Comments on: South Seattle: Bring Your Own Fridge http://blog.redfin.com/seattle/2007/01/south_seattle_bring_your_own_fridge.html Redfin Seattle Sweet Digs Sat, 11 Feb 2012 00:35:59 +0000 hourly 1 http://wordpress.org/?v=3.0.1 By: Glenn Kelman's Conscience http://blog.redfin.com/seattle/2007/01/south_seattle_bring_your_own_fridge.html/comment-page-1#comment-159 Glenn Kelman's Conscience Tue, 19 Jun 2007 19:20:07 +0000 http://devblog.redfin.com/seattle/2007/01/south_seattle_bring_your_own_fridge.html#comment-159 "I overheard that the tear down is to take place in 60-90 days, so fear not for your property value."- wow, that's sounds like a an act of "puffing" at best Polly! A Realtor would have liability for that statement if it turns out to be incorrect... but then again, SweetDigs/Redfin doesn't need to worry about Realtor misrepresentation; the authors of the blog remain unlicensed and therefore unaccountable...besides, they can just blame the listing agent!!! Puffing is exaggerating the virtues of benefits of a property. It isn't illegal, and it's done all the time, by the very people that Glenn Kelman vilifies daily, real estate agents. On the other hand, if you say property values are going to go up 10 percent a year for the next few years, you seem to be stating a fact, but the buyer has no way to check it out, because no one can predict the future. As the agent, you're perceived to be the expert and customers have every reason to believe you. However, if you're wrong, you could be in trouble. Worse yet is an outright false statement that you know is wrong. "No, sir, there are no plans to extend the six lane road past your house." In the courts, which is where you may end up, your actions in either of these examples can be interpreted as fraud or an intentional misrepresentation to sell the property. “I overheard that the tear down is to take place in 60-90 days, so fear not for your property value.”-

wow, that’s sounds like a an act of “puffing” at best Polly! A Realtor would have liability for that statement if it turns out to be incorrect… but then again, SweetDigs/Redfin doesn’t need to worry about Realtor misrepresentation; the authors of the blog remain unlicensed and therefore unaccountable…besides, they can just blame the listing agent!!!

Puffing is exaggerating the virtues of benefits of a property. It isn’t illegal, and it’s done all the time, by the very people that Glenn Kelman vilifies daily, real estate agents.

On the other hand, if you say property values are going to go up 10 percent a year for the next few years, you seem to be stating a fact, but the buyer has no way to check it out, because no one can predict the future. As the agent, you’re perceived to be the expert and customers have every reason to believe you. However, if you’re wrong, you could be in trouble. Worse yet is an outright false statement that you know is wrong. “No, sir, there are no plans to extend the six lane road past your house.” In the courts, which is where you may end up, your actions in either of these examples can be interpreted as fraud or an intentional misrepresentation to sell the property.

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