Free Advice!

By
Real Estate Agent with Atlanta Communities 303302

Let's face it. We all have a friend or neighbor that is a Plumber, Doctor, Nurse, Attorney, or any of the other thousands of job holders that may have information the rest of us need. How often have you caught yourself calling a friend who is a Nurse and asking him/her about a fever or rash instead of going to the Doctors office? Or checking with your CPA or Attorney friend about a question that you swear will only take a second for them to answer? Happens all the time.

It also happens in Real Estate. We agents get asked all the time from friends, relatives, and neighbors, questions about all sorts of things. What color should I paint my living room? Should I renovate or sell? And these I love, I am selling my home to X investor company. I don't have to pay a buyer agent! Can you help me with the paperwork? Many questions are simple and easy to answer. Others, not so much.

Honestly, I really don't mind helping when I can. But as agents, we have to be careful how far we go in giving help without representation. Did you know that most agents carry a special insurance that helps if errors in contracts are made? Its called E&O insurance. Did you also know that this insurance probably will not cover the agent in a situation where they are not representing legally the aggrieved party?

It's true, in a lawsuit happy society, we agents have to protect ourselves. So, when you ask an agent a real estate related question, just know there may be limitations on their answer to you unless you engage that agent in representation.

Now, any questions?

Posted by

Peter den Boer, Associate Broker, Realtor

Atlanta Communities Real estate Brokerage

 

Ph. 770.713.1545

www.denboerhomes.com

 

I write about daily life as a Realtor in the Towne Lake Community in Woodstock Georgia.

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Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. Brian England 11/14/2019 10:00 AM
Topic:
Real Estate Best Practices
Location:
Georgia
Groups:
Active Rain Newbies
Realtors®
Out Of The Box!
Almost Anything Goes
Diary of a Realtor
Tags:
questions
liability
real estate
den boer homes

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Rainmaker
1,226,736
Donald Urschalitz
Lubeck Realty Group - Jupiter, FL
P.A. Realtor ABR RSPS North Palm Beach County

Great information since so many folks just look for a reason to seek legal advise.

Nov 14, 2019 04:31 AM #1
Rainmaker
3,417,206
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Peter. It pays to review your E&O coverage. They are not all the same and cover different things. It is the exclusions that deserve attention. Enjoy your day!

Nov 14, 2019 04:36 AM #2
Rainer
546,145
Sham Reddy CRS
H E R Realty, Dayton, OH - Dayton, OH
CRS

Very well put, thanks for sharing!

In a lawsuit happy society, we agents have to protect ourselves. So, when you ask an agent a real estate related question, just know there may be limitations on their answer to you unless you engage that agent in representation.

Nov 14, 2019 04:41 AM #3
Rainmaker
3,740,678
Sheila Anderson
Referral Group Incorporated - East Brunswick, NJ
The Real Estate Whisperer Who Listens 732-715-1133

Good morning Peter. This is excellent information and often not known by the general public.

Nov 14, 2019 04:51 AM #4
Rainmaker
5,178,989
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

Good morning, Peter den Boer it's most important for agents to be careful with the direction they give.... agents are NOT all knowing....

Nov 14, 2019 05:37 AM #5
Rainmaker
5,576,036
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

I have provided free advice thousands of times during my real estate career. It is part of what we do.

Nov 14, 2019 05:58 AM #6
Rainmaker
2,703,310
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

Very well said and if we are indeed someone's trusted source for information about real estate, it is fair to expect that they will allow us to also help them with all of thier real estate needs.

Nov 14, 2019 06:15 AM #7
Rainmaker
2,028,109
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good morning Peter den Boer - no questions at all.  That is crystal clear.

Nov 14, 2019 08:40 AM #8
Rainmaker
4,636,007
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Peter,

We often are asked similar questions about branding, marketing, etc...I find myself giving general answers.  A

Nov 14, 2019 07:50 PM #9
Rainmaker
705,447
Bob Force (REALTOR®)
Weichert - McKenna & Vane - Mount Airy, MD
The FORCE in Maryland Real Estate

Great words Peter den Boer.  Just watch their face when you say, - "Sorry, but my laywer and insurance company advise me not to answer that question."  

Nov 16, 2019 09:25 PM #10
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Rainmaker
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Peter den Boer

MBA,GRI, Associate Broker, Realtor
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