A real estate agent has a duty to conduct a reasonably diligent physical inspection of the property and is liable for failing to disclose property defects that could have been discovered by a reasonably competent real estate licensee. How would you go about conducting your inspection to meet your duty? What types of "red flags" might you observe that would indicate a potential property defect?
If you can't answer such a simple question, then you should re-read that section of your books again. Why ask someone for help on something that you should be learning? Don't be lazy! Learn your stuff or don't get into the practice.
Real Estate agents are not licensed inspectors. Not sure what state you live in, but this is not the case in the state where I live in....and that is the case with every state I have done business in so I find it very weird that yours is different...are you sure you are not misreading your text? Don't confuse the responsibility of agents with the responsibility of the sellers...a HUGE difference. Agents are NOT legally responsible to find the defects...they are required to be disclosed by the seller...our state has the sellers fill out a buyer disclosure statement that has a list of very, very specific property condition questions. They are NOT required to disclose ANY defect that doesn't appear on that list. Sellers are also not held liable for conditions of the home that they are not aware of...ie. hidden defects. That is where a property inspection comes in...and if the buyer makes the choice not to have one, then that is their problem.
