View Single Post
  #3 (permalink)  
Old 01-22-2008, 11:25 AM
RodKnock's Avatar
RodKnock RodKnock is offline
Senior Club Cobra Member
Visit my Photo Gallery

 
Join Date: Feb 2007
Cobra Make, Engine: KMP 539, a Ton of Aluminum
Posts: 9,591
Not Ranked     
Default

Buyers always look for someone to share their pain when the market depreciates, but when the market appreciates and you ask the buyer to "participate" in the upside, then they just laugh at you.

Ultimately, it depends on how the agency agreement between buyer and agent reads, if there is one, but generally the listing agent and selling (buyer's) agent have only a responsibility to the seller. At least here in CA.

Regarding the auction houses, anyone can be sued, but I read an article in Keith Martin's Auction magazine a while back about a similar problem and the auction house's agreements are quite massive and protect them from most stones thrown at them.