When a Real Estate Agent is not Enough
Purchasing a new home is likely to be the single most important transaction for you and/or your family. This life changing experience, especially for first time home buyers, typically comes along with a fair amount of anxiety and second guessing.
With most standard pre-purchase boxes checked before you sign off on your new home, real estate agents and banks play a limited role in important due diligence matters which lie on the peripheral for every new homeowner. In addition to hidden or structural issues that get missed with preowned home sales, there are also important questions associated with the local crime trends, neighbors, and schools that frequently get missed. When it does get captured in a real estate report or realtor’s website, more often than not important information is underreported, filled with old data, or simply not disclosed by either agent representing the deal out of fear of losing a sale.
The Role of the Buyer’s Agent
Most real estate transactions have one or more agents involved in the sale. For the purpose of this piece, we will just focus on the buyer’s agent. Unless you are planning to purchase your home directly from the seller, you hire a real estate agent for their industry knowledge and expertise. Generally speaking, all real estate agents should be licensed professionals and are guided by a code of ethics, principals and rules. Whether this is your first home purchase or not, the savviest buyer and deal comes with unavoidable stress. A good agent should be capable of providing unbiased advice and guide you through the tedious process of contracts, negotiations and closing the deal. Within their professional network an agent should be able to recommend title companies, real estate attorneys, inspection services and in some instances, buyer friendly lenders which are an integral part of most real estate transactions. Your real estate agent is an independent contractor who can provide invaluable input allowing you to navigate through the tedious process of buying your new home or property.
The Benefits of Hiring a Private Investigator
All real estate agents are bound by a Code of Ethics, the most recent version called the 2021 Code of Ethics & Standards of Practice. Most of the code establishes the contractual relationship between agent and client which is fairly straight forward. However, Standard Practice 10-1 under the caption Duties to Public states that “agents shall not volunteer information regarding racial, religious or ethnic composition of any neighborhood” nor provide other “demographic information which may result in panic selling.”
In essence, this rule protects the agent and sale by keeping you uninformed. As licensed private investigators, our services allow us to uncover important data about your home purchase not restricted by this same code of ethics. The buyer has a right to hire any private investigator, independently and without the need for consent by their agent or knowledge of the seller.
At Integrated Security Services, our seasoned private investigators can conduct deep dive research into the socio/economic aspects of a neighborhood or community, such as analyzing the crime stats-including but not limited to: juvenile offenders, sex offender, resident halfway housing, drug rehabilitation clinics, along with homeless encampments, sanitation issues and related quality of life conditions. With access to local, state and federal criminal records, we can provide you with critical intelligence to avoid buying next to someone with a dangerous criminal past.
Working with a private investigator can be especially important when buying a condominium or co-operative home. A comprehensive records search on the property manager, various housing agencies, building inspectors, as well local police and fire departments can provide extensive insight into the security and safety of a multi-unit dwelling. While much of this data is in the public domain, the process can be tedious, time consuming and could compromise a timely decision to buy especially during a competitive real estate market.
Finally, a private investigator will be able to uncover any civil and/or criminal related matters pertaining to building management. As an example, the recent building collapse of the Surfside Condominium in Florida, which resulted in 98 deaths, may not have been prevented by hiring a private investigator, but could have uncovered lapses in structural repairs, overdue maintenance, prior engineering assessment reports, thus calling out these red flags to potential buyers.
Conclusions
Both real estate agents and private investigators play an important role in all property transactions. Working independently or together, they are subject to professional codes, standards and ethics review. Mutually exclusive, there are aspects of their unique knowledge and services that do not overlap, allowing a perspective buyers and sellers to utilize the expertise of both.
At Integrated Security Services, we recommend that before making a non-negotiable financial commitment on your next home or property purchase, you contact us to discuss how we can help you take some of the guessing out of this important transaction. Our investigative team can set up a cost-effective investigative package that gets you answers your real estate agent can’t and won’t! Our detailed assessment report provides you with peace of mind and ensures that you are making a sound and informed decision. Please contact us now to speak with a dedicated case manager to review your options. We can be reached toll-free at 888 808-9119 and of course via our website at intesecurity.com.
Witten By Larry Teitle & Alan Schissel
