The current Charlotte real estate market is seeing a boom, unaffected by the pandemic. The demand for homes is high, as of November 2021, and the inventory of available homes is low. Charlotte is also seeing an influx of new residents moving in from more expensive cities in California and New York. Because of this boom, real estate agents are likely very busy; but, as a buyer, it is important that you have an agent that is acting appropriately on your behalf.
Real estate professionals are often balancing multiple listings, clients, contracts, open houses, and more at one time. Even with the best of intentions on the part of the real estate professional, mistakes can happen. If you believe your real estate agent acted carelessly, failed to take appropriate action, took the wrong action, or made an error in judgment, you may have a case for professional negligence.
Negligence is defined as the failure to exercise the care that a reasonably prudent person would exercise in like circumstances. Legally, negligence differs from fraud due to intent; a fraudulent real estate agent would intentionally mislead a client while a negligent one may not intend to cause harm.
Negligence lawsuits are common in real estate as clients may claim their agent breached their duty in some way that caused harm or damage. Many claims relate to a failure to disclose important information about the property, affecting the value or price of the property.
Types of professional negligence claims include:
- The real estate agent provided inaccurate or misleading information.
- The agent was acting for the buyer and the seller at the same time.
- The agent accidentally breached client privacy.
- The agent should have known about defects found after a purchase.
- The agent unintentionally omitted information or misrepresented facts.
- The agent missed a deadline for opting out of a contract.
- The agent did not pass on disclosures by the seller to the purchaser.
The court decides whether a defendant did or did not exercise sufficient care; if it is found that they should have known better, the court can award the plaintiff monetary damages.
If you believe your real estate agent acted negligently, you should contact an attorney with experience in real estate law and professional negligence claims. At SeiferFlatow, we will help you determine if you have a case for negligence and represent you appropriately. Contact us today by calling 704-512-0606.