Lawsuit Initiated by Buyer Who Paid $1 Million Over Listing Price
(Blanche Evans - 02/15/2000)
Very Common...
Posted By: YourMoney - 02/17/2000 05:04 PM
For 6 years I have been hosting the "Your Money" radio show and listening to my listeners complain about ethics with their real estate agents. I am all for agents making lots of money. Especially when they are lucky or skillful enough to "double-end" home purchases. However, in this story I believe the inflated value of the home was created by the real estate office, for their own gain. In my area (Roseville, CA) an average purchase price is about $150,000 and we make about 1.5% per loan. I am happy if I can make more than $2,000 per loan. This story talks about a $93,000 commission! Why was there any need to be so greedy when the commissions were already so high? I hope that these agents receive proper punishment and have to repay the commission. David Oldenburg
Responses to this Post
very cpmmon... Posted by: advocate - 03/23/2000 06:25 PM