If you've had a problem with a real estate agent, then you might be able to sue them for malpractice. When do people take legal action against their agents?

Incorrect Property Values

In some cases, homeowners have taken legal action against real estate agents who have not valued their properties accurately. For example, an agent might tell a seller that their home is worth a certain amount and that they should market it at that level. However, they undervalue the property to ensure a quick sale.

Here, you might be able to take action against the agent for misleading you over the true value of the property. You'll have made less money than you could if you had been given an accurate valuation.

False Claims

While real estate agents are supposed to act openly and honestly, some bad apples can cause problems for home buyers as well as sellers. Sometimes, an agent will make false claims to facilitate a sale at a higher price to boost their commission.

Say, for example, you have put in an offer for a property you want to buy. The agent tells you that the seller has already had offers at that price and has turned them down. The agent encourages you to put in a higher offer to make the sale. However, after the sale, you may discover that there were no other offers at your original amount. You paid more for the property than you needed to. In this case, you might be able to take legal action against the agent for making false claims to you.

Failure to Disclose Information

Real estate agents are supposed to disclose any information they have to the people they deal with. If you are renting or buying a property and they know something negative about it, then they should inform you.

For example, if you tell an agent that you plan to extend a house after you buy it, and the agent knows that the local council has recently rejected an application to do that from the current owner, then they should tell you this. Or, if an agent knows about a dangerous defect in a rental property, they should tell you before you sign a lease.

Real estate malpractice suits can be complex. These and other possible reasons for lawsuits need expert guidance and advice. If you feel you might have a case, then contact compensation lawyers to begin the process. They can help you decide if you can or should sue your agent.