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Originally Posted by clooless
Call me clueless (ha ha), but I am not completely understanding the issue here.
Is it not incumbent upon the vendor of a home to have a realistic estimate of the market value of their home and to use due diligence in all matters relating to the sale of their property? The owner sold the condo to his agent with the understanding that they would not flip the property. Why the verbal agreement? Doesn't that indicate that the property owner knew that the selling price was lower than market value?
Why isn't every car dealership sued for what amounts to the same thing? Someone has to explain this to me, please.
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Real Estate agents have a fiduciary duty to put their clients interests ahead of their own. That duty is enshrined in law.
Car dealerships do not have any fiduciary duty similar.