I am not a Real Estate Agent and I certainly don’t play one on T.V. But this piece of news coming out of California caught my attention:
CARLSBAD, Calif. — Marty Ummel believes she paid too much for her house. So do millions of other people who bought at the peak of the housing boom.
What makes Ummel different is that she is suing her agent, saying it was all his fault.
Ummel claims that the agent hid the information that similar homes in the neighborhood were selling for less because he feared she would back out and he would lose his $30,000 commission.
Real estate lawyers and brokers say the case, which goes to trial in North County Superior Court on Monday, is likely to be the first of many in which regretful or resentful buyers seek redress from the agents who found them a home and arranged its purchase
Read the full story and tell me what you think. If this couple wins this lawsuit it could be the RE communities worst nightmare? I hope agents didn’t spend all the money they made in the boom, because things could get nasty.