Saturday LA Times article on Real Estate by Peter Y.Hong states that brokerage firms settle litigation and deny wrong doing.
This leads me to say several things to the public. The Hazard Report is an important 3rd party information system that Realtors highly regard.
I have attended informative sessions and visited Property I. D. offices. They have a strong company
The facts that the hazard report provides in every transaction is truly essential. Palos Verdes and Malibu have “fire areas”, Torrance has a section with “soils” issues that need owner awareness and care, Airports, land issues and every potential hazard is outlined in these reports.
The issue is not the report but if the referral has a kickback. Buyers can have several choices of companies in Hazard reports. Some companies have more detail than others. Like a cliff notes version, or the Mercades. It is good to see the variety of reports to choose the one you think will give you the most information.
The “clue report” is an additional report that shows any insurance claims. Many companies from insurance to hazard report companies can research that for the buyer.
My hope is that the truth in this situation and the correction will lead people to greater trust than less. Buyers and Sellers do have choices. Realtors have found companies that they trust for accuracy, timely delivery and service. This is a balance of referral that is not about money passing hands back and forth but about relationships and trust. We can tell you about the many options.
Clue reports Hazard reports Property I.D. referral kickbacks LA Times
