Throughout the west Houston area Betty Bookmark presents herself as "The Area Specialist." Her billboards in the immediate area show her with her arms folded in front of rows and rows of text books with the caption "No One Has More Knowledge and Expertise Than Betty!"
But how much knowledge should Betty have?
A few months back Betty represented a seller where she found her elastic britches being sued off by the home buyer because it wasn't disclosed to him that the nearby - existing major highway was going to be expanded from 4 lanes to 8.
The construction was going to last at least 2/1/2 years and it would literally take up half of the neighborhood. Johnnie Buyer was furious and he cited Betty's late night commercials where she bragged "I am the only Area Specialist you should rely on." It was that term: Area Specialist that infuriated Johnnie.
In the end Betty argued that she had no way of knowing about the upcoming construction as it was only a rumor at the time. Johnnie's lawyer, however, attended a public meeting by the Department of Transportation where he learned that bonds had been approved thereby paving the way for the much needed construction.
What are you thoughts on this story? The truth of the matter is that this fictional story is close to a real story that happened right here in Houston. Should Realtors (especially when they call themselves an Area Specialist) be more in tune with the Dept of Transportation? Should agents look into expanding roads and growing area retail that could change the immediate landscape of the home they're selling? What about buyer's agents? How much should you be expected to know? What about your designations? Do you they open you up for more liability? Are you a "certified specialist?"