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Realtors Hate Land Surveyors
I have come to the conclusion after many, many years of working with, for, because of and in conjunction with real estate brokers, that these brokers despise land surveyors.
Of course there are excretions to the general premise.
But as a general rule, real estate agents do not like land surveyors.
Land surveyors in their mind are trouble finders and no good comes from a land surveyor in a real estate transaction. Land surveyors find problems such as encroachments, fence lines off the property that kill contracts, easements that devalue a property and driveways that cross over a line.
Land surveyors are deal breakers.
Real estate agents have become more concerned with keeping a deal together than looking out for the best interest of a buyer. The Colorado real estate contract to buy and sell real estate has a section that stipulates a survey with a survey date. Many/most real estate agents cross the section out and write N/A and have the buyer initial it. (who’s looking out for who)?
Near a I can tell – Less than 10% of the real estate closing in my area have a survey done anymore.
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Sorry for the Soap Box Rant
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14 Replies
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As both a licensed land surveyor and a licensed real estate salesperson, I must protest. First, I do not hate myself. Second, it is the abstract/title insurance people who are most feared. It is their need to eliminate all possible risk that drives them to require surveys when everyone else just wants to make the transaction happen. This leads to much work for surveyors.
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Some of my better clients are agents.
That said, I do see your point. A lot of agents are not looking for their clients at all. -
The feeling is mutual
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The majority of title folks in these parts do not require a survey to write title insurance. And as a matter of fact, the title people tell r/e agents and banks that a survey is an unnecessary cost to the buyer and seller.
A recent study shows that less than 10% of the residential real estate transactions have a survey as part of the deal.
In my effort to speak directly with r/e agents concerning surveys and closings, the r/e agent says something like, “only if title requires it”
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To realtors, surveyors are like dentists. You know you have to go to them, but you hate what they uncover.
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>than looking out for the best interest of a buyer
The real estate agent is agent for the seller. The buyer has no one representing them.
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God hates fangs, and realtors are vampires.
🙂
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Yes!
In the vast majority of cases, the agent’s fiduciary responsibility is to the seller.
Many a buyer has been screwed thinking the agent is working in their interest and RE folk never fail to capitalize on that misconception.
-Jeff
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Some other ramblings that is à propos
http://www.banswer.com/renting-real-estate/1908-1-banswer.html
Maybe it not that Realtors hate surveyors,
It’s more like realtors don’t have a clue -
“Of course there are excretions to the general premise.”
I love it!
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American business is all about the almighty dollar so I don’t really see how Realtors are any different from most of the American way.
If we could somehow use our equipment to magically uncover pots of gold then everyone would love us.
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Actually, rather than blaming realtors, sorry, I have to blame buyers.
If some fool buys 100 shares of stock at $5 per, and he doesn’t do careful research on his investment, he’s going to get burned. Common sense.
But all sorts of people will put down big money on real estate and not do much research on it all at. And they get burned, too.
Nobody really to blame but themselves.
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ABC
But, the realtors try to present themselves as experts in real estate transactions and in most cases you can’t buy or sell property without running into one in the process. It’s hard to get your property shown if it’s not in multiple listing, but the best way and way cheaper than a 6% commission is if you have a willing buyer and a willing seller is to go through a competent real estate attorney to process the transfer.
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Al
What you say is very true.
However the vast majority of home buyers are not sophisticated in the issues of real property ownership and the problems and issues that arise.
They buyer depends upon the information supplied by the individuals he has contact with during the r/e process, namely the real estate agent. Who then in turn says something to the effect of “you really don’t need a new survey, it’s been done before”, of “the bank doesn’t need it, so you don’t” or “your mortgage company doesn’t require a new survey therefor you don’t” or “the title company says they will cover you if there’s a problem, so say yourself some money and don’t get a survey”
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