Lawsuit Filed Against Realtors Who Don't Disclose Client

According to a recent study, realtors only tell 30% of homebuyers information about their clients, meaning that confidential information could be lost and unfair advantages given to sellers.

"A pending lawsuit in the suburbs of the nation's capital is focusing fresh light on a growing problem: Realty agents are failing to disclose whom they represent in transactions, even where state laws require them to do so in writing at their first substantive meeting with a potential client.

According to new research by the National Association of Realtors, just 30 percent of buyers during 2005 received disclosures about representation from their agents at their first meeting. Nearly half of first-time buyers either received no disclosures anytime during the sales transaction or were unaware of whether they did or did not."

"Clarity about representation is crucial because sellers and buyers often divulge confidential information to agents about their finances, personal circumstances or bargaining strategies that can dramatically affect pricing and negotiations."

Full Story: Suit tackles agents who shirk full disclosure

Comments

Build Your Own Paper Block City

Urban Fold is an all-inclusive kit that allows anyone to build the city of their dreams with a few simple folds.
$24.95
building block set

NEW! Build the world you want to see

Irresistible block set for adults when placed on a coffee table or desk, and great fun for kids.
$25

Stay thirsty, urbanists

These sturdy water bottles are eco-friendly and perfect for urbanists on the go.
$19.00
City Plate table setting

New Arrival! City Plates

City downtown cores printed on gorgeous decorative collectible porcelain plates.
$50.00