Agent/broker perspective: The buyer blame game

  • There are always going to be some unhappy post-purchase buyers looking to blame the agent for their concerns. The broker should be involved immediately in these cases.
  • Legal protections for the agent and office are built into contracts, but brokers can secure an extra layer of defense by purchasing E/O insurance.

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

In this monthly column, Anthony Askowitz will explore a hypothetical Miami real estate situation from both sides of the broker/agent dynamic. This month’s situation: A Miami real estate agent has a very unhappy customer just a few months after helping him purchase a new home. Agent perspective It looks like no good deed goes unpunished. Three months ago, I finally found a home for a demanding buyer, negotiated the price and closed the deal smoothly. He was very pleased at the time, and we parted from this transaction on good terms. Now, he is calling me every week with a litany of complaints about the home that are simply not my problem. Apparently, a few issues were missed during inspection and comps are suddenly dropping in this once-promising neighborhood. This buyer is really furious and threatening legal action against me, my team and my brokerage. I have had some unhappy post-purchase buyers before, but never anything like this. I pointed out to the buyer that the...