Preventing Buyer's Remorse
Successful real estate professionals are brokers. They act, not only as agents for property owners who want to sell their properties, but they also have a duty of care to help buyers obtain the property they want and which meets their needs. A successful sale is one where there is a willing buyer and a willing seller; where both parties consider themselves winners.
An informed purchaser is less likely to get buyers remorse. A real estate Salesperson’s duty of care extends to helping a buyer research their dream property before they become committed to buy it. There are two ways they can help ensure prospective buyers are informed.
Firstly by ensuring the buyers gets a Land Information Memorandum (LIM) Report, and secondly by encouraging the buyer to have the property inspected by a qualified, experienced building inspector.
LIM Reports provide all the information the local authority holds about the property, including any permitted alterations and any proposed changes to the area or property zoning.
Encouraging the buyer to have the property inspected by a qualified, experienced building inspector will ensure they are forewarned about any problems. While a pre-inspection report is not a guarantee that all possible defects have been identified, it does provide an independent professional opinion about the state of the property. Should the inspection reveal any significant defect, the vendor can then be advised to consider taking remedial action before undertaking further marketing.
