Should Agents Talk About the $8,000 Tax Credit?

By
Real Estate Team Leader with Prudential Homesale Services Group RS221729L, 532943

Show of hands: How many folks reading this feel that real estate agents should understand the current First-Time Home Buyer Tax Credit well enough to explain the basics to others? OK, how many believe that agents ought to simply tell customers and clients to consult a tax expert?

Our branch manager tells us to hand out the less-than-hard-hitting corporate flyer on this subject and deflect any and all questions by referring people to their tax advisor. This IS prudent advice from a branch manager, I think--you know, focus on showing and selling houses, don't cause people to rely on you for things outside your core of expertise, and so on.

But, aren't we in the homeownership business? Shouldn't we know something about topics directly related to our role as trusted advisors to our clients--something beyond the headlines? Or, are we doing clients a disservice, and opening ourselves to liability, if we attempt to provide information on anything except the homebuying process? What do you think?

For those who want something to pass along, here are two possibilities:

NAR's presentation on the $8,000 tax credit

NAHB's site - FederalHousingTaxCredit.com 

Posted by

Peter Gibaud Team

Franklin County PA & Washington County MD

717 267-3222 x229 office

peter@GoGibaud.com

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Topic:
Mortgage / Finance
Location:
Pennsylvania Franklin County
Groups:
Active Rain Newbies
Long & Foster Agent Lounge
Realtors®
Tags:
tax credit
firsttime home buyer
agents
advisor
expert
homebuying

Comments 7 New Comment

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Rainer
207,212
Shane OnullGorman
Eau Claire Wisconsin, Real Estate Agent & Realtor- Buy or Sell
Eau Claire Realty, Inc.

I put up a page about it on my website and it gets hundreds of views. If you search for any of the key words involved I rank in all the top spots for it in my area. I have the NAR pamphlets available and it says specifically to consult a tax expert. You can make the info available and still provide service as well as tell them where to go. Otherwise they are standing there looking at you like you must be some kind of dummy for not knowing about it.

March 20, 2009 09:09 PM
Rainmaker
307,343
Michael Russell
Overland Park Kansas Real Estate
Keller Williams Realty Partners, Inc.

it is not hard to understanf the basics of the tax credit. Every agent should be capable of talking about this.

March 20, 2009 09:19 PM
Rainer
51,006
Omega Omega
Omega

Hey Peter and Tammy - I'm sure your branch manager has good intentions but uhhhhhh, that's why you and others are the clients "trusted advisor."  The issue....as far as I can see is not for you to discuss the tax consequence, etc. but to make sure YOUR CLIENTS are empowered.

Just my 2 cents.

Best wishes!!!!

Cheers

March 20, 2009 09:21 PM
Rainmaker
692,982
Chuck Carstensen
Minnesota Real Estate Expert
RE/MAX Results

I think we should tell them.  But I am okay with telling them to check with their tax advisor on it too.

March 20, 2009 09:43 PM
Rainer
36,475
Donald Wenner
Keller Williams Maplewood Mid-Town Direct

Thanks for that link.  That is great information.

DW

March 20, 2009 09:54 PM
Anonymous
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Peter Gibaud Team

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Additional Information

The Peter Gibaud Team blog reports on the real estate market in Franklin County PA, Washington County MD and the surrounding areas. Local happenings and tips about home hunting and home ownership are discussed from time to time.