Q How do you know if real estate agents are bonded while they are showing your home to prospective buyers? I am concerned about theft and other damage they may do while they are in our home. Do they have any responsibility at all? I am also concerned about the brokers requesting that we not be home when they hold open houses or show the house to prospective buyers.
— P.G., Edmonds
A Let me answer your second question first. It is standard practice in real estate to keep the sellers and buyers apart as much as possible. That’s why the agents don’t want you around when they are showing your house. This is actually for your benefit.
Agents know that one ill chosen remark or a slip of the tongue by the sellers can send an otherwise interested buyer heading for the door. You are hiring a real estate agent to present your home in its best possible light. Don’t get in the way. Let the agent do the job. There’s nothing you can tell the buyers that the agent can’t tell them. If they have a question the agent can’t answer on the spot, he or she will get the information from you and pass it on to the buyers.
Buying a home is a major event in most people’s lives. Emotions run high and tempers can flare. The agents act as a buffer between buyers and sellers, taking the heat so that the deal doesn’t fall apart over a personality conflict. Believe it or not, that is one of the most valuable services that agents perform.
As for your question about real estate agent liability while they are showing your home, agents make an effort to keep an eye on the buyers they are escorting, but in most cases they are not bonded. Be sure to keep your homeowner’s insurance policy in force while your home is on the market, especially if it is vacant. An empty house may not offer many potential targets to thieves, but if the house burned to the ground, you would have nothing to sell.
Real estate agents generally advise sellers to pack away their valuable collectibles, breakables and items that are easily stolen. Get them out of the house, or at least out of sight. Remember buyers are interested in your house, not your stuff. While it’s on the market, treat your home as a model house open to the public. I know it’s an inconvenience, but that’s part of the price you pay when selling your home. To minimize the impact on your personal life, price your home as low as possible so that it sells quickly.
While I understand your concern, you should know that cases of theft or property damage by real estate agents or prospective homebuyers are extremely rare. Agents in the Puget Sound region use a computerized key box system. The box electronically records the name of the agent and the date the key box was opened. Homeowners and their listing agents always know who has been in the house. If something turns up missing, you can contact the agent or agents who had access to the house during that time period.
But again, let me emphasize that problems of this sort rarely happen. As I said earlier, if you are concerned about your valuables, put them out of sight so that they don’t offer a tempting target to the few people who might be inclined to walk away with them.
Mail your real estate questions to Steve Tytler, The Herald, P.O. Box 930, Everett, WA 98206. Fax questions to Tytler at 425-339-3435, or e-mail him at economy@heraldnet.com
Steve Tytler is a licensed real estate broker and owner of Best Mortgage, Inc. You can visit the Best Mortage Web site at www.bestmortgage.com.
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