The Ummel Verdict Is In - Buyers Need to be Careful in Choosing Their 'Buyer Agent'

Here is a news update on the Ummel case as reported by the National Association of Exclusive Buyer Agents:

AVONDALE, Ariz., April 17 /PRNewswire-USNewswire/ -- The verdict is in and a California jury has decided that a real estate agent did not violate the law by failing to disclose to his buyer client information about comparable homes on their same street that were selling for substantially less money. In a case of first impression, Marty Ummel attracted national attention when she sued her buyer agent and his company, for allegedly duping her and her husband into overpaying for a $1.2 million home."Not disclosing comparable market data to a buyer client may not have been perceived as a violation of law by this jury, however it would certainly violate the Code of Ethics of our association," stated Barry Nystedt, the President of the National Association of Exclusive Buyer Agents (NAEBA). "Real Estate practitioners in traditional real estate firms that usually represent sellers may not have the commitment and skill to fully protect the financial interests of the home buyer. Home buyers would be smart to hire an agent from a firm that specializes in representing only home buyers and subscribes to a higher standard of performance," Nystedt added.

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