Archive for October, 2009
Inmost states you’ll find three major avenues open to you if you find yourself at odds with the broker involved in a home sale. One is to file suit to recover whatever damages you’ve incurred. Another is to file a complaint with the state licensing body, which generally has the authority to impose fines and suspend or revoke the agent’s license. The third option is available only if you’re dealing with a Realtor, in which case you can complain to the local real-estate board, The board’s interdisciplinary committee can’t suspend the broker’s license, but it can suspend or terminate his or her membership in the Realtor organization. Realtors are required to submit for arbitration by the committee any complaint filed by another broker or by a client — generally speaking, a seller. While arbitration is allowed for buyer complaints, it’s not required, except in buyer’s-broker situations, where the broker actually represents the buyer.
