Recent Trends in Realtor Malpractice

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Recent Trends in Realtor Malpractice
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Moderator John R. Gonzo, Esq.Kaufman
Dolowich Voluck Gonzo, LLPPanelists Vincent
J. CataniaXL Select Professional
InsuranceJonathan Vine, Esq.Cole, Scott
Kissane, PA
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Buyers Remorse or Realtor Malpractice?
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Breach of Fiduciary Duty

• Commission Driven Structure of the Industry
• Motivation to Inflate Property Values

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Mortgage Fraud

• Overvalued Appraisals
• Cash Back Deals at Closing
• Kick Back Schemes
• Higher Frequency Due to Downturn in Real Estate
  Market

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Foreclosure Actions

• All professionals involved in the real estate
  transactions that results in a foreclosure suit
  are being dragged into litigation

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Consumer Fraud Act

• Misrepresentations and Omissions
• Duties and Obligations of the Realtor
• Damages
• Litigation Costs
• Expert Testimony/Professional Malpractice Standard

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Best Practices

• Underwriting the Risk
• Claims
• Litigation

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What can we expect in the near future?