I wonder if the NAR isn't past due in taking a position on how Realtors should represent flippers.
I frankly believe those who do this kind of work need to be licensed, and Realtors have no business participating in the listing and sale of the products of those who are not licensed.
Those of you who have known me through the ActiveRain pages for the past nearly ten years, will recall that I personally did a great deal of property renovation, both residential and commercial, in Galveston and Houston. Actually multi-millions of dollars worh.
I tell you this because I am, perhaps, more acutely aware and critical of the generally poor quality of work -- most not to code, and not permitted -- that many of today's flippers are guilty of than the average Realtor.
What if in advance of listing a property that would be defined as a flip, the owner was required to retain a licensed home inspector to provide a report similar, but more voluminous, to the Owner's Disclosure that is required in Texas? That inspctor should be picked by lottery, to assure he wasn't the pal of the flipper or the agent.
That inspection report would be accompanied by the building permits that were pulled, and the names and licenses of all of the mechanical trades that worked on the project.
During the past ten days or so, along with clients, I have looked at more than twenty Dallas area home listings that were the work of flippers.
While some were painted up pretty, had new kitchen cabinets and granite tops, a la HGTV, everywhere one could possibly put granite, the structural and mechanical work was obviously done by handymen rather than those with licenses.
One $400,000 home burned to the ground the night it was completed by the flipper and listed with a fine and well-respected agent.
I honestly think that as it stands now, listing flipper products are a serious liability problem for Realtors.
What's your experience?
KELLER WILLIAMS DALLAS PREMIER
Direct: 214 503-8563