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The Unknowing Expert- Consumer Involvement in the Real Estate Market

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written by Frank Schulte-Ladbeck on Monday, March 31, 10:53AM

Frank Schulte-Ladbeck
Frank Schulte-Ladbeck
The other day when I was clearing off my desk, trying to catch up on my reading, I come across an article that deals with the
growing number of sites on the Internet where you can find information about an illness. Much of the data being provided to these sites are from patients. I know that when my wife’s cousin received her diagnosis of cancer, she was helped immensely by my mother, a cancer survivor, coming to talk to her. Nevertheless, much of the information being provided does not really give a new patient all of what he really needs to know, especially from an expert that may know more. This is a concern for me.

The truth hurts

In a way, I have seen the same problem on many real estate sites. On one occasion, I answered a question in a Zillow forum about home inspections. This is my job, which in Texas requires over 400 hours of education, so I thought of myself as qualified. I faced strong opposition to my answer though, because it went against a perception that many homeowners have. Many people believe that older homes do not need to meet the same safety requirements that newer homes do.

Here in Texas, I am required to report on several safety issues that were not enforced even twenty years ago. Many of these items are minor in the sense that a two-dollar part could repair the situation. For example, an antisiphon device on an exterior hose bib is needed, but many older homes here typically do not have one. The argument presented to me was that if it has been safe so far, it will always be safe. I angered several people on the forum when I wrote that I would have to place such an item in my report. Their claim was that I was just being mean to the seller. I could have blamed my listing these issues on the state government, since it was a state regulation requiring me to include these items in the report to begin with. But I tried to explain that the reason for mentioning these safety issues is so a buyer would be made aware of them. The seller is not required to repair them, and the buyer does not need to do anything about them, but they need to know what they are getting into.

Experts matter

Experience of a situation is useful to the homeowner and the buyer, just as my mother's talk was useful to my cousin. These stories are valuable, and they should not be underestimated. In that regard, these forums play a vital role for our professional community on the Internet. We know that new buyers are going to the Web for information, and these sites are main providers. From looking for homes to understanding the buying process to finding a real estate professional, the Internet is becoming an integral part of real estate transactions. I believe that housing experts like myself, need to become more involved on Internet sites to help better understand our clients’ needs.

In the end, we have to factor in consumer experiences as important to the understanding of housing problems and misconceptions that exist, but we also have to ensure that they are hearing our own voices as well. Listening to consumers will make real estate professionals better at their job, and the communication between industry experts and their clients may help dispel some myths about their homes.

Frank Schulte-Ladbeck Professional Real Estate Inspector

Comments

Comment from An Online Consumer, a Consumer:


Thanks for this post as it will give me some perspective when an Inspector creates a report for me. I'm glad you are participating online despite being attacked on another forum. We're out here looking for information and we don't know what's expert advice and what isn't. After reading this post, it's clear that you are very knowledgable. If only I lived in Texas...
Comment from Becky , a Consumer:


I'd rather hear the truth when it comes to home repairs. I hate it when people try to hide things. Thanks for your honesty Frank. There should be more inpectors like yourself out there.
Comment from Jonathan, a Consumer:


Good idea. Having more involvement by real estate "experts" makes sense to me - are there any sites out there like WebMD (for the medical world) or Seeking Alpha (for the stock world) that provide this type of knowledge base? If not, why hasn't anyone created it?
Comment from Frank Schulte-Ladbeck, a realtor:


Well, Zillow and Trulia do offer a forum, as does Active Rain, but there are sites specializing in certain communities.

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