Can I sue my real estate agent for failing to disclose to me the interest of a buyer?

Discussion in 'Property Law Forum' started by PropertySeller, 15 April 2019.

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  1. PropertySeller

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    I have recently completed the sale my property in Sydney to a buyer (Let's call her Buyer A).

    Buyer A visited my property during an open home hosted by my real estate agent (Agent). However, the Agent never showed me Buyer A's offer for the property. Instead, Buyer A told me that she left the Agent a voice message but never heard back, so she contacted me directly to show me an offer. (fortunately I have all visitors' contacts, and she also has mine)

    A few days before Buyer A contacted me directly to show an offer, the Agent and I discussed about Buyer A several times in our text conversations, regarding her request of a rental appraisal. So Buyer A was definitely on our radar screen.

    Meanwhile the only offer the Agent has shown me was from another buyer, Buyer B. I rejected Buyer B's offer, because he insisted on a delayed settlement period, and a lower than usual deposit amount. Buyer B told me the reason he needed a delayed settlement period was because he needed to sell his other property to fund this purchase, a property that he hadn't yet listed.

    I suspect that the Agent intentionally did not showing me other offers, to force me into a deal with Buyer B. The reason could be that the Buyer B will agree to list his property through the Agent, hence the Agent can earn double the commission.

    Can I sue the Agent for failing the fiduciary duty to act in my best interest? Even if I could not prove that there was malice by the Agent in not showing me Buyer A's offer, can I at least sue the Agent for negligence for not following up with Buyer A, and finding out her buying interest?
     
  2. Alert

    Alert Well-Known Member

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    You should be told all offers, either verbal etc.
    It sounds as though buyer B and the Agent had the same interests.
    Did you receive more money from buyer B when you sold the house.
    Let me say this, the experience I’ve had is the agent needs to represent you and only you, agents fail over and over and over again.
    If you didn’t receive more than offer A and this was hidden from you, you can claim compensation for your loss.
    It is up to the Vendor and not the Agent who or when you sell your house too, you should have definitely been given Buyer A’s offer. Even if you did have contact this does not mean anything now as you have sold, you could have bumped into buyer A when you were checking mail and started a conversation?
    It would be interesting to know if you received less from buyer B than what buyer A was prepared to give you.
     
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  3. aati

    aati Well-Known Member

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    Agents are in my experience hopeless. We have contacted agents via email regarding interest in.properties, left phone messages and sent more emails. To no avail. Finally on eventually contacting successfully with offers, we have had no replies! So it looks the norm... I personally will not use an agent to sell property now having had these experiences.
     
  4. Alert

    Alert Well-Known Member

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    I totally agree with you aati, they are hopeless! Just think how the property market is, not like 2-3yrs ago. So really do agents care what you want at this point, NO!
    Write to the Director of the company explaining all your issues.
    How long until your authority for them to sell expires?
     
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  5. Alert

    Alert Well-Known Member

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    It would be helpful if I was to know what the authority to sell is, 30day exclusive, that is usually the norm. After the 30 days you can write a letter to the company saying you no longer want them to sell your property, and find a new agent if you really want. If you do look for a new agent make sure you are aware of their obligations as a real estate agent. I don’t know what stare you are in, search up ‘real estate act’ in your state, and make sure you read this.
    Do you know if you have completed and signed the authority to sell your property correctly? This is important, if they have stooged you, which the majority do, you could be up for fees that you are not aware of.
    Get back to me if you like. I can talk you through this.
     
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