Real Estate Malpractice Definition
Real estate agents and brokers have a duty to act in accordance with the accepted standard of care in the real estate profession. They also have a fiduciary duty to their clients to represent and advise them about the real estate transaction. When an agent or broker fails to act in accordance with the required standard of care or breaches her fiduciary duty to the client, the client may have a claim for real estate malpractice. Further, Realtors must abide by the National Association of Realtors Code of Ethics.
Common Occurrences of Real Estate Malpractice
A client may sue a real estate agent for malpractice for a variety of reasons; when a real estate agent intentionally or accidentally misrepresents a material fact about the property or the transaction; if the real estate agent violates the terms of the brokerage agreement between himself and the client; if the agent knew of but failed to disclose a dangerous condition on the property which resulted in injury to a client; and if the agent or broker failed to communicate with the client or failed to follow the client’s instructions.
Real Estate Malpractice FAQ
- How long can I wait before I sue for real estate broker Malpractice?
- Where should the suit be filed?
- How do I find a good Real Estate Broker Malpractice attorney?
- What will I need to prove my claim?
Real Estate Malpractice Articles
Real estate legal malpractice claims on the rise
Real Estate Claims Lead Malpractice Actions
Professional Liability Exposures for Real Estate Brokers and Agents
Real Estate Malpractice Links & Resources