March 29, 2008

HousingPANIC Stupid Question of the Day


Should the realtors and mortgage brokers be sued for damages?


19 comments:

Anonymous said...

In a word, yes

DIE U REALTOR PIG said...

Absoultely.

They act and get paid as professionals then they should be held to the standard of professionals.

Live by the sword, DIE by the sword.

eric in vegas said...

Why? Most of them are probably tapped out.

Anonymous said...

no. sales people can puff in almost any industry.

buyer beware. read what you sign. stop depending on the nanny state to think for you.

Anonymous said...

Anon @ 7:49AM is right - "puffing," or qualitative promotional statements, are not actionable in court, so most suits against realtors would have no chance.

Besides, since they're all broke now, how would you collect?

keith said...

Here's some grounds for suits I think:

If the homedebtor can prove that the realtor took a bonus commission to steer them to a
certain property

If a mortgage broker falsified documents

If a realtor didn't turn over information they knew to be true so as to ensure the sale would go through (like a murder in a house, toxic spill, etc)

Probably bunch more, but there's a few for starters. And yes, it's tough to get blood out of a turnip

Anonymous said...

yes
yes
yes
yes
yes
yes
yes
yes
yes

Anonymous said...

Then we'll have a legal bubble, since most plaintiff firms or giant organizations that are or will be listed on the stock exchange. The only people to get anything out of these suits will be the law firms. The only profession with more amoral greedy slimballs than mortgage brokers or realtors is lawyers. This would be like the fox fixing a broken henhouse.

Anonymous said...

Yes - they should be held accountable for lying and misleading people. Even if it wouldn't hold up in court, to make them sweat and squirm for their lies is worth the trouble. I say have them served.

wc said...

Hard to prove that a mortgage broker falsified a document and you didn't provide them with false documentation. Also - hard to prove that a realtor didn't disclose something as most often they can claim they didn't know. I suppose there are isolated cases where the lies are obvious. But ultimately people have to take responsibility for their own ineptitude. Mortgage brokers and lenders are far more to blame for this mess than their cheerleading realtor counterparts.

Carioca Canuck said...

What do you mean should they be sued ?

They are all actionable for their errors, as well as their deliberate misleading actions.

We all are.

People just have to start suing........because the real estate brokerages, and parent organizations, whose shingle these clowns hid behind are not broke.

Go after them.......I am a licensed auto dealer and own my own business.......we a more highly regulated than they are an din fact than most businesses are.....if I acted like I have seen and heard many realtor's act (and other dealership staff) I would potentially be forced to reverse a questionable transaction, I would be fined, possible jailed, and my reputation would suffer as a result.

Anonymous said...

Broke and being sued still isn't enough for them. But it's a start!

RichCinAz

Anonymous said...

I like the old english way. Drawn and quartered, and then hanged by the neck. In fact we could use all those for sale signs out on front lawns all over america.

Anonymous said...

yes, and they should be held criminally liable as well - throw the bums in jail.

Mark to Market said...

In our victim society to suing the mortgage brokers and used house salesmen willing only sanction their victim status. The FBs will blame the brokers, the brokers will blame the CEOs, the CEO will blame the FED and on and on.

The market will punish the salesmen and the brokers when their value to the economy is marked to market as is now happening. Working a minimum wage job has got to suck. Imagine how much it must suck to go from 6 figures a year to $6 an hour.

Anonymous said...

We should contact any Greg Swann sucker and see if they'll sue that ass

Anonymous said...

Only if you are going to sue every salesman that has ever sold anything for a profit.

Anonymous said...

Yes and I'm a realtor. All my clients were told to sell in
2004. I was a bit early but they are safe and most are not. I'm in Miami, Miami should get hurt bad.

Anonymous said...

Yes sue them all .