Real estate agents work in a precarious industry. They are constantly handling the actions of a handful of people involved in a transaction, and many obstacles could derail the efforts. Anytime big money is involved, there is a chance for a big risk. A Real Estate Lawyer in Brooklyn NY, has seen it all. The Law Offices of Elan Wurtzel lists the top three most common case types, and the main method of fighting against them as an agent.
Fraud
Fraud is vague because it encompasses any kind of intentional activity to hide behavior and subsequently cost a client money. The key word here is “intentional.” Fraud must have a conscious attempt. For example, an agent may not provide information about a property by mistake. If the plaintiffs can prove that the real estate agent hid that information on purpose, they have a case. Fraud is only defined by a conscious effort to deceive and does not include oversight and just an accident of the business.
Breach of Duty
A real estate agent must act in the best interests of the client to the best of their ability. They are considered a fiduciary, and that defines the second most common case against an agent-;a breach of duty. A fiduciary based claim is progressing on the idea that the agent provides confidence in their ability to their client. This may encompass general industry mistakes not consolidated under fraud. This will also include intentional lies made to limit client information. That can be a rather important distinction with agents because they often act to provide only what they find pertinent to their client.
Breach of Contract
The last major type of case seen by a Real Estate Lawyer in Brooklyn NY, is a breach of contract. This does not have to include any intentional fraud or even an accident. It could simply be a client who wants out of a contract they are legally bound to. The agent has an incentive to uphold that contract, even if everything is being done legally.
There are many case types real estate agents need to be aware of. These are only the main ones that may come up in an industry rife with big money and bigger transactions. You ca also visit them on Facebook for more information.
