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Posts: 703
Reply with quote  #1

the artivle makes note that appraisers opinions of value vary but that the agent likely defrauded his clients for a measly 7 million

The outcome of the lawsuit, which is scheduled to go to trial at the Santa Monica Courthouse in September 2017, may hinge on the value of the home, a figure that varies widely with the vagaries of the real estate market and in any case ultimately is a subjective matter (as appraisers always are careful to note). But a larger issue raised by the case is the degree of a real estate agent's fiduciary duty to a client and the ethics of "dual agency" (an agent acting on behalf of both seller and buyer) — a question that the California Supreme Court will take up in the fall in a precedent-setting case that also, as it happens, involves a lawsuit against Cortazzo and Coldwell.

better to have lost a lender than a license
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