The verdict is out for the property flipping incident involving the marketing agent friend we’ve mentioned about few days ago.
REAL estate agency ERA has been ordered by the High Court to cough up $257,000 and other expenses to a married couple whose property agent had acted in conflict of interest.
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When a property agent is engaged to sell or buy property, he has a responsibility to act in the interests of the person who hired him – not his own, or his friends’, or his relatives’ or his boss’, said the judge.
This is a huge tarnish to the real estate brand name and I’m sure clients who engages the affected firm in the near future would be asking about this case and be more cautious. Again to be fair, one black sheep doesn’t mean the whole herd is of the same type.
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{ 2 comments… read them below or add one }
Yes indeed courts the world over will never tolerate a conflict of interest.
Agents must never consider putting themselves into the position even if it means passing up some very nice potential deals.
Right on my friend. Lucrative deals come and goes, but once reputation is tarnished, it’s really hard for people to trust you.