Three Reasons That You May Want To Take Legal Action Against Your Real Estate Agent

Law Blog

When you're buying or selling a home, your real estate agent should be a trusted confidant. This is the biggest financial decision that you'll make in your life, and knowing that your agent is representing your best interests is integral. Unfortunately, there can be times that you're unhappy with how your agent has handled your situation, and you might even think about pursuing legal action. You should set up a consultation with an attorney at a firm like Law Offices Of Harry G Lasser and discuss your experiences. This legal expert can indicate whether you might have grounds for legal action and then represent you moving forward. Here are some times that this action may be appropriate.

He/She Was Advising The Other Party

You want to feel confident that your real estate agent is working only for you. However, you might begin to get a suspicion that he or she has been in contact with the other party in an advisory role. For example, if you're a seller and you have your house listed at $300,000, but you've indicated to your agent that you'd likely accept an offer of $280,000, the agent may have shared this information with the prospective buyer in an effort to get the deal done quicker. This scenario may have cost you money and is worthy of legal action.

He/She Had An Undisclosed Relationship

In many jurisdictions, a real estate agent has to disclose any relationships that he or she may have with someone involved in the buying or selling of real estate. For example, if you have hired a buyer agent to help you buy your home, and the agent's sister has her house for sale, the agent can steer you toward it — but only after advising you of this relationship. If you've learned that your agent failed to do so, which may be the case in a smaller community where word can quickly spread, you may have grounds for a suit.

He/She Gave You Inaccurate Information

While a real estate agent can occasionally make an innocent mistake, he or she has to be extremely careful to avoid passing along information to you that is inaccurate. You don't automatically have grounds for legal action if the agent has said something inaccurate, but if such a statement has caused you to lose money — regardless of whether you're buying or selling a home — it's worthwhile to provide these details to your attorney so that he or she can evaluate whether there are grounds for legal action.


26 February 2019

Business Law Basics: What Small Business Owners Need to Know

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