Realtor Fails to Inform Buyer of Zoning Changes to Property

Case Overview

This case involves a family who was subjected to the nondisclosure of material information in the purchase of real estate property. The defendant was the owner of the property. The subject property is a lot situated on the border of a large retirement community. One of the defendants purchased residential property adjacent to the plaintiff’s property. The retirement community decided to sell and rezone the property adjacent to the lot. The plaintiff had no idea that a piece of the retirement community’s property had been sold off and rezoned. It is alleged that the defendants failed to disclose that the adjacent property lot was other than presented and had, in fact, been sold and rezoned in such a way as to materially affect the value of the subject property and its use in an adverse manner.

Questions to the Real Estate expert and their responses

Do you have knowledge of the code of ethics for realtors (national/local)?

I was the Real Estate Commissioner of the state in question for 6 years and have heard many disciplinary cases over the years. A majority of this time was devoted towards the ethics behind real estate, and I have created and implemented rules and regulations in the state that focused on those situations. I am licensed in multiple states and well aware of the code of ethics that should be in place locally and nationally.

About the expert

This highly qualified expert is the owner of an independent commercial and investment real estate practice. His firm specializes in land acquisition for development and investment; retail, office and industrial site selection; tenant representation; and investment acquisition and counseling. This expert has extensive real estate ethics experience. From 2001 to 2007, he served as the President of the Nevada Real Estate Commission. Appointed by Nevada's Governor, the five-member commission conducts disciplinary hearings, approves all real estate education courses, advises the Nevada Real Estate Division and adopts regulations governing the activities of Nevada's approximately 25,000 real estate licensees. This expert also has significant national real estate experience. He served for 18 years as a member of the Board of Directors for the CCIM Institute, a 20,000-member organization which awards the Certified Commerical Investment Member designation. This expert has extensive expert witness and trial experience. He earned his BA at the University of Southern California.

E-008612

Specialties:

Real Estate