Legal Question in Real Estate Law in California
deceptive realtor practice
Is there any way for a consumer to protect against a realtor who says that a ''highly competitive contract is coming in today'' (when there really is not one) which might push the consumer into bidding higher and sooner than they otherwise would?
1 Answer from Attorneys
Re: deceptive realtor practice
If you are aware of such a practice and have some proof, but haven't suffered any actual legal damages, you might want to contact the California Department of Real Estate to see if they want to pursue it as a violation of their rules - www.dre.ca.gov.
If you have suffered damages, you might also have a case for fraudulent misrepresentation; to win, you would have to show that you relied on the misrepresentation, that such reliance was reasonable (which may be difficult), and that as a result you paid too much.
You also used the term "Realtor," suggesting that the person is not just a real estate agent, salesperson or broker, but also a member of a specific trade group that supposedly holds its members to higher standards of education and ethical conduct than non-members are required to observe. You might want to contact that organization as well, if indeed the person is a Realtor.