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Nov 3, 2023 · The top seven claims that are made against real estate agents include: Real estate fraud: Real estate fraud occurs when one individual involved in a real estate transaction makes a false representation of relevant information to another individual who is involved in the transaction. In the alternative, one individual may fail to disclose ...
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- Failure to disclose occurs when pertinent information regarding the property is intentionally kept from the client. Examples include omitting past damage to the home, not divulging future development plans in the area, or any part of the MLS listing not matching the property itself.
- Breach of Duty claims are when a client feels that the agent or broker has neglected to act in their best interest or with the highest standard of care.
- Breach of Contract claims occur if any part of the contract isn’t fulfilled. Not acting within a given time frame is a breach of contract. Fraud, breach of fiduciary duty, and negligence are usually filed alongside this claim.
- Negligence is when the plaintiff can prove that the defendant’s inaction caused harm. However, negligence is different than fraud in that intent is not evident.
Dec 15, 2015 · For example, when buying a home, people rely on the advice of their real estate agent and the representations made by the seller when making their decision. If either the seller or real estate agent knowingly deceives the buyer during the sale, the deceptive party may become liable for negligent misrepresentation.
Aug 11, 2024 · In real estate, a breach of duty by an agent might involve actions such as failing to disclose critical property defects, providing inaccurate market analyses, or neglecting to verify essential documents. Such failures signify a deviation from what a reasonably prudent real estate agent would do in similar situations. 3. Causation
Sometimes, though, real estate agents fall short. They act unprofessionally, they make mistakes, or they put their own needs above yours. Depending on the circumstances, you may have a lawsuit against your realtor. Here are the most common lawsuits against real estate agents in Ontario:
A claim of negligence against a real estate agent may also be grounded in statutes and regulations. For instance, the Real Estate and Business Brokers Act Code of Ethics (2002) section 4 specifically requires that an agent must promote and protect the best interests of their clients.
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Foundation of Negligence in Law against Real Estate Agents. There are a number of different sources: Breach of contract at Common law, Breach of Fiduciary duties under the Common law, Breach Real Estate and Business Brokers Act, 2002, Breach of Code of Ethics under REBBA 2002, Breach of various Regulations under REBBA, 2002, Breach of CREA Code ...
