BUYER AGENT DUE DILIGENCE

By
Real Estate Agent with BEAN GROUP

I read a recent blog on Activerain about incorrect information beiong supplied on a listing sheet and how buyer agents are now being asked by listijng agents on the listing sheet to verify information prior to close...

If there is so much incorrect information posted on listings, then why hasn't NAR or whatever local MLS decided to start policing this with spot checks?  That might make the listing agents really look at the information a little harder than apparently they do before posting.

Comments (4)

Mike McCann - Nebraska Farm Land Broker
Mike McCann - Broker, Mach1 Realty Farmland Broker-Auctioneer Serving Rural Nebraska - Kearney, NE
Farm Land For Sale 308-627-3700 or 800-241-3940

Most MLS and listing paperwork and even contracts state that the buyer needs to satisfy themselves to the accuracy of the measurements and such.  I think that should be done and I carry a 30 and 100 foot tape measure in my truck.  Many of my clients have done just that...verify the info to satisfy themselves. 

I would not want to take the word on dimensions and brand/model of appliances of any listing agent, inspector, seller or builder as gospel as they are human and can make errors. 

If the buyer has a concern about actual measurement or brand versus what they see versus their (buyer) visual measurement...then they should measure....one less thing to worry about on down the road.

Oct 13, 2010 04:41 AM
Dorothy Tanno
ReMax Realty 9 - Jackson, NJ

When I put a listing in I always send a copy to the client and ask them to check it for accuracy.  Then I make any changes that need to be made.

Oct 13, 2010 04:42 AM
Vito Boscaino
Parker Realty Associates - Dublin, OH

Buyer Beware still prevails.  The "Due Diligence" process that a buyer should engage in prior to closing on a real estate transaction should be thorough and comprehensive.  Any material discrepancies identified through the due diligence process which conflicts with data provided through the Listing Agent via the MLS would simply represent an opportunity to rengotiate the terms of the deal or in a worst case scenario, position the Buyer to walk away from the transaction.

Oct 13, 2010 04:46 AM
Judith Abbott
Coldwell Banker Residential - Dallas, TX

When the Buyer and I are in the proposed purchase, waiting for the report from the Home Inspector, I suggest to the Buyer that they use that time to re-measure any parts of the house where accurate measurement is important to them. 

Oct 13, 2010 04:51 AM