“Marty Ummel feels she paid too much for her house. So do millions of other people who bought at the peak of the housing boom.
“What makes Ms. Ummel different is that she is suing her agent, saying it was all his fault.”
I came by this story from today’s New York Times by way of the 1000 Watt Blog, one of my favorite daily stops.
Naturally, I can’t speak to the facts of this particular case and it’s my guess that it will be a difficult argument to make. However, the story should serve as a reminder to agents that there is more to representing a client than finding them a home and putting a contract together.
Ultimately, we are responsible to “protect and promote the interests” of our client. If they’re offering to pay more than market value, they have a right to know it. They depend on us to tell them the truth.
Nobody can predict the direction of a real estate market with absolute certainty, yet almost daily I hear from people who claim that a Saskatoon real estate agent has told them that prices are going to go through the roof this spring. Just three weeks ago, one agent stood in my office and relayed portions of a conversation he had with a buyer. “This house will be worth $X by spring. I guarantee it!”
“Hmmm…and I think you just did guarantee it.”
If your agent is using this kind of language, he or she may be either ignorant or reckless. I could be wrong, but it’s worth thinking about. :)
The full New York Times story is here.
I’m always happy to answer your Saskatoon real estate questions.
All of my contact info is here. Please feel free to call or email.
Norm Fisher
Royal LePage Vidorra