Claims against real estate professionals allege failure to disclose known defects, misrepresentation of property characteristics, breach of fiduciary duty to a principal, and failure to recommend inspection.
Agency relationships determine which duties are owed to whom.
Alternative Names:
Realtor Liability, Broker Liability (Real Estate)
Why it Matters?
Agency status determines the duty owed, and dual agency is where most disputes originate because the professional owes duties to both sides that can conflict. Disclosure obligations are separately significant, since most states impose statutory duties regarding known material defects that operate independently of any contractual undertaking. Documented disclosure forms are the primary defense.
Frequently Confused with
Related terms
Frequently asked questions
What duties does agency status create?
What is the primary defense to disclosure claims?
