Originally posted by "spizzo":
What information are you looking for? We can tell you that given the price of the property and the going rent/selling price you COULD bring a return of your investment of a certain percent. It all depends on market conditions and depending on where you are that could change in the next 3-6 months. We can tell you what areas are hot, and where you have the best chance at getting what you want, whatever that is.
That is just factual information. If that were the only information expected of real estate agents, there would be no need for them to be licensed, educated professionals.
Originally posted by "spizzo":
Realtors do risk liability so we have to walk a fine line
I completely disagree with this statement. The whole reason to have a licensed professional is because his/her professional opinion is superior to that of the non-professional. Agents aren't the only profession that can be sued.
Imagine if you were involved in a court case and a settlement was offered. Now, how would you feel about your lawyer if all he/she gave you was the factual content of the settlement offer and the risks of going to trial. That's not what the lawyer is there for. The lawyer needs to give you advice -- "I think we can do a lot better at trial because of X, Y and Z..." The lawyer might be wrong (you may end up losing at trial) and it is ultimately your own decision. That doesn't mean you will sue your lawyer for that advice (you might, but being wrong isn't the same as malpractice).
Imagine if you went to your doctor with some unusual pains and all he gave you were a bunch of stale facts about potential therapies -- "Well, there's an X% chance it's your appendix, with a Y% chance that, if it is your appendix, it will get better without surgery, and there's a Z% chance of complications with surgery..." Yes, you need to make the decision about whether ultimately to actually get the surgery, but your doctor (who probably faces a much greater risk of getting sued than any real estate agent) has to give you some guidance and opinion -- "I think it's your appendix and you need to get it taken out right now." Even if you subsequently die during the operation, it doesn't mean that the doctor committed malpractice for advising it, nor does it mean that it was bad advice (though, being dead, you might disagree). It certainly doesn't mean that he/she shouldn't have given a professional opinion in the first place.
A real estate agent should be held to the same standard. Yes, it's the buyer's (or seller's) decision, but there should be insightful opinion given by the agent. Is this a good price for this house? What will this house likely rent for? What will prices be like in this neighborhood a year from now? Professionals should act like professionals. Nobody knows the future, and opinion can be given with that caveat, but the purpose of all of your training is to help less-trained (unprofessional) people make better decisions. If you won't give an opinion because you are so afraid of a lawsuit every time you might be wrong, you really aren't doing your job.