1000watt blog

Subscribe to RSS

«
»

Buyer sues agent: Anomaly or tip of the iceberg?

By Brian Boero | January 22nd, 2008 | Filed in: Uncategorized

From the New York Times this morning: "Feeling mislead on home price, buyer sues agent".

This story, alas, is the "most emailed" on the entire site at the moment.

What do you think — are we going to see more of this?

– Brian Boero



Get a jolt of 1000Watt

No spam

Receive new blog posts the instant we hit publish.

7 Responses to “Buyer sues agent: Anomaly or tip of the iceberg?”

  1. Bob Stewart says:
    January 22, 2008 at 11:35 am

    Brian,

    One of our members is a witness in the trial for the defense. She posted something about it on AR (making sure not to say anything other than pointing people to the story).

    http://activerain.com/blogsview/348425/NY-Times-Story-Feeling

    I think this has huge implications (obviously) and should have brokerages scurrying to make sure their files are in order (if nothing else).

    I think this becomes a huge story and the outcome of the case will set a large precedent should the plaintiff win……..Wow……can you imagine?

    Reply
  2. Robert Luna says:
    January 22, 2008 at 1:10 pm

    Bob, I agree and I don't believe this is a first; I would like to see the reports on complaints filed against agents I bet we would also see a spike there.

    Reply
  3. Maria P. says:
    January 23, 2008 at 11:10 am

    My first thoughts was – how much of this are we going to see?
    My second thought is that agent is a jerk. Even if you are being sued for not doing due diligence or whatever it is – publicly calling your former clients "nut jobs" is totally unprofessional.

    Reply
  4. Kevin Tomlinson says:
    January 23, 2008 at 2:42 pm

    tip of iceberg.

    Reply
  5. Robert Luna says:
    January 24, 2008 at 10:37 am

    Maria, you are right there is a level of professionalism that should be taken the problem was the dramatic influx of new inexperienced agents not being mentored or properly supervised; some brokers have done an excellent job of mentoring new agents and I would assume they will reap the rewards by not being targeted by this type of litigation.

    Reply
  6. Lee Drizin says:
    January 24, 2008 at 12:53 pm

    As a real estate attorney primarily engaged in the defense of licensees I am extremely concerned about the implications of this case. In our state the licensee has the obligation to disclose material and relevants facts which the agent knew or should have known about the property. You don't have to be an appraiser to have checked the MLS to determine if there are comparable lower priced units available.

    Reply
  7. Jon Boyd says:
    November 11, 2008 at 5:01 pm

    As it turned out not much came of the case.

    But in our market the biggest problem is that agents are only designated agents but they tell consumers they are buyer agents. That is where buyers are getting cheated.

    Regards,

    Jon Boyd
    Exclusive Buyer's Broker
    The Home Buyer's Agent of Ann Arbor, Inc.

    Reply

Leave a Reply