Can real estate agents give property price forecasts to customers?

Tip 1: Be cautious when you give price forecasts to customers, you may be sued for negligence.  Case Study 1: Jason is a real estate agent. He brought Miss Chong to see a house in Klang and forecasted prices to skyrocket. Miss Chong bought the property but prices dropped 50% in 3 months due to a recession. Can Jason be sued for this? Answer:YES. Estate agents may be sued for negligence if : a) They have presented themselves as an expert in this field. b) They would have known that the customer's purchasing decision depends highly on this price forecast c) They did not disclaim responsibility after giving the remark Recommended Solution:a) Do not simply provide price forecasts. b) End the discussion by telling customers that your own opinion may not materialise as there are many factors affecting property prices. c) Advise that at the end of the day they need to make their own decision instead of relying on your own opinion. More of such knowledge covered within our real estate diploma course. Register for our December Intake now and get an early bird discount. Choose any of the class timings below: a) 2 Year Diploma Part 1 - Mon, Wed, Thu 7pm-930pm b) 2 Year Diploma Part 1 - Mon, Tue, Wed 2pm-430pm b) 2 Year Diploma Part 2 - Mon, Wed, Thu 10am-1230pm c) 2 Year Diploma Part 2 - Sat 9.30am-12pm, 1pm-330pm, 4pm-630pm

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