Department of Regulatory Agencies: Who has experience?

[Alan Mills]

Hi BP,

We just closed on the purchase of our new primary residence. We went in to the deal without a buyers agent and the strategy worked reasonably well. The listing agent ultimately moved from sellers agent to become a transaction broker, supposedly serving as a neutral party for the transaction. The Realtor disclosed to us early on that the sellers were family members. However, there were several indications along the way that - no surprise - the Realtor favored his sellers/family. There were additional indications that the realtor made errors along the buying/selling prices too. Also, the realtors licensed broker also became involved because of difficulties towards the end of the transaction.

I have been advised to contact our state’s Department of Regulatory Agency to discuss our situation. But I honestly wonder what good it would do for anyone, other than throw mud at each other. In the end, the deal closed and everyone is moving on. I doubt anything would be worth pursuing legally, and even if we felt that strongly, I doubt we have any legal ground to stand on.

I would appreciate thoughts of any kind, particularly if you have experience with “reporting” a realtor/broker or someone else having reported you to your state’s DORA, or what ever the equivalent might be in your state. There really was at least one issue of significant negligence on the part of the realtor/transaction broker.

Out of respect for the agent/broker/sellers involved, I might be a bit vague with additional details below, so please send a private message if you are interested in more of the details. Thanks for your time.