Saturday, April 5, 2008

Who's to blame if you overpay?

A couple who bought a $1.2 million home in Carlsbad, CA, are suing their real estate agent, claiming that he provided poor counsel, which lead them to allegedly overpay for their home. They are accusing him of failing to inform them that similar properties in the neighborhood had recently sold for $100,000 less than they paid.

When I first heard about this story, I was momentarily taken aback. But that feeling quickly disappeared when I stopped to think about the safeguards I take to ensure that my clients are fully informed about the market value of any home they consider purchasing. Indeed, all good agents do diligent research on comparable properties before advising their clients concerning offers on properties they are considering. (Note: According to the news article, the agent in question provided information on over 40 comparable properties, so it is difficult to understand how this couple hopes to prevail in court.)

So why am I bringing this story to your attention? Simply to point out the importance of working with an agent you know and trust. The following links provides guidelines and suggestions concerning how to choose the right agent for you. How to find and choose a buyer's agent:
How to choose and find a seller's agent: http://media.reliancenetwork.com/dyna_images/clients/1974690/20085411055.pdf

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