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JGP

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  1. I'm not sure the answer to this, but interested in the community's view (particularly that of any lawyers): I'm in the process of selling a condo in NYC. (Please note, these aren't actual prices, but are on the same scale as the actual ones.) The broker representing me also was representing other sellers in our building. I'd gone with him because he is a resident of the building and has successfully sold a number of other units in prior years. He also has a bit of a mixed reputation, but I decided to work with him nonetheless. My apartment was listed at $1.1 million. Via the broker, I got an offer for $950,000. I asked him his advice on whether or not to accept it and his response was that it was too low and, in fact, didn't warrant a counter because it was so low. His advice was to go back to the buyer and say that I'm willing to negotiate, but they have to make a higher, good faith offer. I took his advice and did so. One week later, the person who made the $950,000 offer went into contract on another of our broker's apartments, at $950,000. That seems really shady to me. It's been about 6 months since then, and the real estate market has slowed way down and now I'm looking at offers closer to $900,000. Does anyone think what he did is illegal, or was he just being highly unethical? I'd love to sue him for the difference in price as well as for what I had to continue to pay for the ensuing months the apartment has been languishing on the market. I feel like there probably are emails that would be discoverable in court if I pursued litigation, but of course, that's a roll of the dice and I'm not wealthy enough to go into protracted litigation. Grateful for any thoughts, thank you!
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