by Tim O’Dwyer M.A., LL.B
When will governments put in place stronger legislative measures to protect real estate consumers not only from self-serving real estate agents, but also from their own trusting natures?
The story below from a school teacher client of mine, whilst ending happily, gives ample reason for a long-overdue legal prohibition on agents’ referring buyers to building inspectors, mortgage brokers, solicitors and the like.
“A recent experience with building inspectors and a real estate salesman may serve as a warning to others looking to purchase a home. My experience was enough to turn a normally reasonable person into someone with noticeable traits of paranoia.
It all started when my partner and I visited a real estate agency as part of our search for a new home. The salesman we dealt with soon showed us a tenanted property – which he happened to own himself. The house, although thirty years old, was a log cabin with beautiful timber cathedral ceilings, it had a touch of class.
The seller/salesman negotiated a sale price with us and, while we were signing the contract, helpfully gave us a card (from many others in his office) for a building (and pest) inspector. He suggested that this fellow was thorough, but cheaper than the rest. My partner and I were thankful for this advice, and happily engaged the recommended inspector…