Broker Reactivation-Discussion & Results of the Case

Video Transcription

Video Summary

In this video, the concept of adverse material facts in real estate transactions is discussed. The video emphasizes that if information goes against the interest of any party involved, brokers must disclose it to all parties. However, certain circumstances that may psychologically impact or stigmatize a property, like a homicide, suicide, or a resident with HIV/AIDS, need not be disclosed without the informed consent of the client. In a specific case discussed, the broker failed to disclose adverse material facts and inform the seller about their repair obligations, resulting in violations and penalties, including a fine, ethics coursework, license suspension, and supervision. The seller may now face civil damages from the buyer. The video highlights the legal obligation of brokers to disclose known material facts to all parties involved in the real estate transaction.

Keywords

adverse material facts

real estate transactions

disclosure

broker

seller