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What is a realtors responsibilities?

By
Services for Real Estate Pros with Birchyard LLC

I am certain realtors have many responsbilities to their clients, some more important than others.  Since I am in the field of insurance I find it fascinating that many new home purchasers come to me looking for homeowner insurance yet barely no the basic details of their home.  Whether representing the buyer or seller I would think that you shoud be doing all you can to get your client to a succesful closing.  Since a home purchase, that is being financed, cannot be completed without homeowner insurance here  are a few ways to make it easier for your buyer or the buyer of your sellers home:

1. Make sure they have a copy of the listing or the e-mail link available.  This will have basic information that is needed to determine a rebuilding cost.  NOTE-home insurance covers the home not the mortgage.  In a mortgage statement it states insurance must be in the amount of replacement cost of the home or the mortgage amount, whatever is less.

2. Encourage them to have it done early, in most cases a closing date is not set until insurance is in place

3. Have them call a good agent, that would be me.  Bill Van Jura 845-471-6500 ext 53445

John Walters
Frank Rubi Real Estate - Slidell, LA
Licensed in Louisiana
We have a lot of responsibilities.  Seems every deal creates new ones.
Feb 28, 2008 11:32 AM
Anonymous
Dionne

What are your thoughts on realtors and their respobsibility when it is a rental? Does a realtor have a respobsibility?

May 30, 2008 06:09 AM
#2
Anonymous
Anonymous

Absolutely they have a responsibility.  In the broad sense it is the same as always, to serve the lient as best as they possible can serve them to make sure the owner is happy with the new tenant and the move in goes smooth.  I think it is also wise to have professionals lined up to make sure proper insurance is in place for the rental property and that the renter maintains insurance. 

May 30, 2008 06:15 AM
#3
Anonymous
Anonymous

is it the realtors responsibility to make sure the seller is selling the house for enough money to cover all of the mortgage(or line of credits attached to the mortgage) before the sign a contract on a sale price?

Jun 12, 2009 05:35 PM
#4
Anonymous
Sue

Is the buyer's broker responsible for checking the financials of the seller in a cash transaction?

Jan 31, 2010 05:43 AM
#5
Anonymous
ariyah f.

what are a realtors' responsibilities and obligations if an apartment is not found within the time limit and money was accepted from the client??

Jun 29, 2011 01:14 PM
#6
Anonymous
Noel

I recently purchased a home for cash and later found out after the point of sale that the home's well water tested positive for T. Coliform. My realtor never disclosed this information to me, nor did the lab that did the testing disclose the test results to the county that I live in. Who is more at fault the realtor or the lab that ran the water testing results. I am now in need of a new well because of this situation. What should I do?

Aug 07, 2012 05:50 PM
#7
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

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