Real Estate Vocabulary

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Misrepresentation-  A false statement made with the intent to induce some action by another party.

I have heard many complaints over the years from consumers who felt as if their agent misrepresented a particular situation, almost always an item of factual, finite value. I see things a bit differently.  I truly believe that an overwhelming percentage of agents try be be very truthful and factual.  The problem is many do not do their homework, or “take a seller’s word for it”, and erroneously and innocently misstate the facts.  

I recall a situation a few years ago when a buyer I represented wanted to know about the farmland behind a certain property, and if it could ever be built upon. The listing agent, when asked, (as per the policy of this blog and my company will remain un-named) stated “That property backs to Green Acres”.  Wrong. Green Acres is state owned, meaning preserved for life. This property was privately owned.  Is this laziness on the agent’s part, or are they just repeating what the seller told them?  Does the agent have a responsibility to know the difference between Green Acres and farmland?  Yes!  The worst part was when I double checked with the agent she became annoyed, as if I was questioning her credibility (when in fact, I could care less about her credibility) I just cared about my client being upset one day when 390 condos are built in her pretty view of a back yard.

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