A real estate agent is a licensed professional who specializes in the buying and selling of properties. They undergo extensive education and training to develop expertise in real estate transactions and must pass a state board exam to obtain their license. Real estate agents perform various tasks, including preparing paperwork, providing customer service, negotiating deals, and guiding clients through property tours.
Understanding the Responsibilities of a Real Estate Agent
Real estate agents have specific responsibilities based on their education, credentials, and licensing. They are not allowed to offer legal or tax advice unless they are also licensed attorneys. Moreover, they must comply with the Fair Housing Act, which prohibits them from disclosing certain protected details about a neighborhood or community.
Misrepresentations and Failures to Disclose
Misrepresentations occur when a real estate agent makes false statements regarding essential features of a property. Failures to disclose happen when a broker intentionally withholds information about a material aspect of the property. These issues often involve structural problems, property boundaries, or environmental concerns. Unfortunately, it’s only after a property is purchased or sits on the market for a long time that buyers realize they have been deceived.
Common Lawsuits Against Real Estate Agents
Real estate agents may face legal claims related to their work. The most common claim is negligence in their fiduciary duties. As fiduciaries, they have a legal obligation to act in their client’s best interest. Breaching this duty may include undisclosed profits or fees, failing to inform sellers about other offers, or accepting offers without the client’s consent.
Other lawsuits against real estate agents include failing to disclose property defects, negligence in exercising due care, and mishandling clients’ personal data. However, suing for a lie or misrepresentation can be challenging, as the nature of the lie significantly impacts its legality.
Available Remedies for Lawsuits Against Real Estate Agents
In most real estate-related lawsuits, the court may award monetary damages to the plaintiff. Compensatory damages are common for breaches of contract or misrepresentation, while punitive damages may apply in cases of fraudulent misrepresentation. The court may also issue equitable remedies, such as instructing the agent to cancel the breached contract through rescission. Additionally, emotional distress or other damages resulting from the agent’s actions may also be considered.
To pursue legal action against a real estate agent, collect all relevant documents that demonstrate the damages you have suffered. It is crucial to mitigate any further harm to yourself and not seek additional damages to recover from the agent.
Consulting an Attorney for Legal Action Against a Real Estate Agent
If you believe that a real estate agent has wronged you, it is wise to consult with an experienced real estate attorney in your area. An attorney can assess the details of your case, determine if you have a valid claim, and represent you in court if necessary. For reliable legal assistance, consider reaching out to Garrity Traina, a trusted and experienced firm specializing in real estate law.
Remember, by understanding your rights and seeking appropriate legal counsel, you can protect your interests and pursue justice when dealing with issues involving real estate agents.
