4 Ways to Protect Your Seller Clients When Listing Their Home
From fraud to legal disputes or even theft, there are potential dangers that come with listing your home for sale. As a real estate professional, you’ve likely seen it all — but, your sellers probably don’t have the buying or selling experience under their belt to know the potential red flags.
That said, how can real estate professionals protect their home seller clients when listing their home? What types of advice should they give? And, what about insurance?
Here are some insights to help your home seller clients combat four potential dangers:
#1. Lock Up Valuables During Showings
Showings are an important aspect of marketing a home for sale, but it does come with its fair share of risks. It’s easy for anyone to feign as an interested buyer, so how can you know their motives are legitimate? Walk-throughs and open houses invite strangers into your seller’s home, so it’s necessary to keep in mind all of the potential vulnerabilities.
Agents can protect their seller’s from theft by reminding them to stow away their valuables when prepping for showings. This includes anything from antiques, memorabilia, mail that contains sensitive information, costly items, and more. It’s a good idea to lock these away or remove them from the property altogether.
#2. Remove Medications
The stealing of prescription drugs is becoming more and more common during showings. According to a survey conducted at the Greater San Diego Association of REALTORS Expo, nearly half of 164 real estate professionals reported knowledge of prescription drug thefts taking place at open houses.
Although your sellers may not anticipate it, they should be wary of leaving medications in their home during a showing.
#3. Keep the Property Monitored
Listing a property online lets the whole world know that it’s up for grabs - and not just for buyers. Since a staged home (or a home without furniture in the listing photos) could be perceived as already vacant, criminals may target the property.
Agents and brokers should warn their clients that they may want to take extra security measures. Always lock all windows and doors, keep track of everyone coming in and out, and think about opting for a home security system. Taking these precautionary steps can save your sellers in the long run.
#4. Ensure Disclosures Are Done Right
Even after a sale is closed and finalized, sellers are still at risk. Legal issues commonly come up after the transaction has been completed, and their leading cause is incorrect disclosures. Agents and brokers need to stress the importance of correctly and accurately completing the disclosure documents — and the problems that come with failing to do so.
Since each state has different disclosure requirements, it’s important for sellers to understand what’s required in their state. For example, California requires sellers to disclose material facts, any deaths that have happened within the last 3 years, noise, nearby airports, registered sex offenders living in the neighborhood, and more.
Keep Your Sellers Protected
It’s easy to make mistakes, and with stakes this high, your sellers need to ensure they’re disclosures are done right. Check out Glide’s premier disclosure services to help mitigate both you and your clients’ risks. Interested in taking safety a step further? Click here to learn about our new E&O Insurance offering.