Real Estate Agents Have No Legal Obligation To Look Out For You

Real Estate Agents Have No Legal Obligation To Look Out For You Or Your Interests When They Represent You


Real Estate Agents
So you want to sell your house? Or you want to buy your wife her Barbie dream house? You would think real estate agents are required to represent your best interests. That’s where I need to stop you. Why? Because your assumption would be wrong. The real estate agent has no legal obligation to look out for your best interests.
The Consumer Federation of America recently posed that question to a national survey sample of adults. The survey showed 50% of adults believe real estate agents are obligated to look out for their interests. However, that is not entirely true.
All but five states do not require real estate agents to represent the interests of their clients.
Here’s a perfect example. I had a real estate agent list a house for me about fifteen years ago. He insisted I take a lowball offer for $25,000 less than I owed. This would have required me to bring $30,000 to the table. I refused it and fired him when he became belligerent about it.

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