California home buyers sue their "buyer agent"

If you have been watching news about home buying you might have seen the New York Times article about the Ummels in California.

According to Marty Ummel when she bought her home using a "buyer agent" from Re/Max, the "buyer agent" didn't tell her about similar property in the neighborhood that was priced less. The Re/Max guy also was the loan officer and reportedly didn't let the Ummels see their appraisal even after they had asked for it. (This allows the agent to make a lot more money, typically at the expense of the home buyer client.)

Bottom line - if you are a home buyer you need to understand what kind of "buyer agent" you have. It sounds like this guy might have been out for his own best interests.