So I am purchasing my first primary residence & I took the first time home buyers class yesterday. I was asked by the one of the counselors at the time of signing up to provide the class with insurance info they should know. I sat there for 6 hours and heard a Mortgage broker speak, an Inspector speak & a Realtor Speak. I noticed they all sort of grazed by things or touched on things that were insurance related and offered up horrible info. I work at a Home Owners carrier presently and I always was so taken back by the lack of information the insureds had in regards a numerous things.I mean 50% of them have no clue who there agent was!!!!
The thing that I found so shocking was the fact that they are all selling this bundle idea as to one person can take care of everything Idea which I am totally against. I don't think purchasing a home is like bundling your home services!! Seriously!! This buying thing for me has been a bit rough I am on my 3rd realtor (sigh), and the lender that I was going to use initially doesn't qualify for the programs I am using on my attempted house hack :-)!! So now I have to go to another lender get my credit hit for the 3rd time, blah, blah blah!
So basically the realtors was the ones who takes care of the insurance portion when comes to home buying!! Really!! The realtor takes care of the insurance? I understand referrals and things like that but last time I checked you can't call your realtor to confirm if a loss is covered or not!! Especially when I talk to numerous realtor who are clues as to the basic mechanics of insurance when it comes to their own home insurance. So I sat there in amazement at the bad information that was being given out to people who were buying there very first home. No one in the class knew I was the speaker on the program I just asked questions and offered senarios that contradicted what the realtor was saying. Not trying to give her or any realtor a hard time but I am a strong believer is knowing what your talking about when giving other people information. It's one thing to give an opinion but when your are being looked as the home buying professional by impressionable people, stay in your lane.
I always tell insureds if possible have an agent who they have the ability to walk into their office when they have an issue. No one wants to leave 10 calls with an agent about flooding at a property they own & can't get anyone in Call the office ask questions see their willingness to help you to make an informed decision. Go into the office ear hustle see how they talk to and about their insureds. What comes to mind when you walk into the office? Is it clean, do they take care as to the appearance of the office?
By the time it was my turn to go over the insurance part of home buying I was fluffed out after all of the foolishness I had heard thru the day. For a Realtor as a professional to say to a home buyer "As your realtor, if I was chosen as your realtor I would handle the home insurance your lender requires you to have". While knowing nothing as to the makeup of insurance!!! I was totally shocked!!!! Is this normal?
I have been a realtor in a smaller town for over 10 years. I have never chosen an insurance agent /co for someone. Just like any other referrals i give.. i'd always give them a few different local contacts to different isurance companies if they asked. I have never heard of any other Realtor handling that either. Maybe I misunderstood your post.
Im not sure who your anger is directed towards the city/county/ or state that offers the homebuying class or tge Realtor who offered to supply you with a home owners insurance company so that you would not have tonworry about looking for that. Realtors do officiate alot of the relationships especially for first time home buyers and because of our experience with past companies we can verify who has meet the most client needs in different situations to see which companies would be a great resource. Many of my clients expect me as a Realtor to know everything which I make it a point to be knowledgeable in all things dealing witb the buying/selling/ maintenance / and insurance categoriesbut I make it a point to tell them to contact the carrier for specific advice because I dont like to give half information that I was not trained and certified in. Maybe you shojld ask the realtor to explain because I am positive that she does not think she will process your insurance claims but much like my self i let my clients know they can always call me even after we close if they have an issue and many still do even with insurance claims because they want to know who to contact and what to say or how to present their issues because they dont want to do or say the wrong things. They should know who their agent and insurance company is by the time they close because it is apart of their closing docs and if they choose to ignore their information anf not read what they are signing and qhat the title company is going over with them page by page then shame on the buyer.
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