Q: 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.
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.
You might think you are being helpful but may end up causing more harm than help. There’s nothing you can tell prospective home buyers that the agent can’t tell them. If they have a question the agent can’t answer, he or she will get the information from you.
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 left to sell.
Real estate agents generally advise home sellers to pack away valuable collectibles, breakables and items that are easily stolen while the house is on the market. Get these items out of the house or at least out of sight.
Remember most 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.
To minimize the impact on your personal life, price your home as low as possible so that it sells quickly and you don’t have to worry about strangers wandering through your house on a regular basis for several weeks or months.
While I understand your concern, you should know that cases of theft or property damage by real estate agents or prospective home buyers 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 and time 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.
Let me emphasize that problems of this sort rarely happen. If you are concerned about your valuables, put them out of sight.
Steve Tytler is a licensed real estate broker and owner of Best Mortgage. You can e-mail him at features@heraldnet.com.
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