Real Estate Industry In 2019 And Its Famous Public Clashes

2019 will go down as a year of ups and downs in the real estate scene, especially to competitors and regulators involved in that area. So many businesses have been in 'public clashes' over rights to the property. Forbes highlighted these and many more, stating that there are a number of other problems real estate agents needed to navigate through, aside from natural ones like the bad market and overpricing.

A class action suit in the Midwest came out as one of the more popular problems, where a 'plaintiff's bar' had prepared one for major national brokerage players in the country. According to the report, these lawyers have decided to make these brokerages pay for having cost sellers extra money.

The problem between Zillow and Compass is another high-class action suit mired deep in real estate problems. Zillow claimed that employees were hired away from them by Compass, bringing important IP with them. Compass, meanwhile, faces a collection of different lawsuits not only from Zillow but from a collection of other real estate companies as well.

Real estate clashes that make the public eye happen, but sometimes, they are just waiting to happen. Real estate agent Aaron Drever was arrested on charges of deception, according to Stuff NZ. Drever also holds a record number for most official censures going against a real estate agent, according to the report.

Drever has been vocal in media about his role in the sale that happened, however, defending the sale of the land that used to belong to the once-Avondale Bowling Club. The now-disgraced real estate agent firmly held on to his own claim that he was there as a 'private speculator' as he negotiated the deal which brought $300,000 to a company owned by a relative.

This wasn't the first time the real estate came under fire, though. In January, he fielded a complaint from The Coca-Cola Co. and Fonterra, which demanded Drever to remove their respective logos from a personally-owned speedway car. He has also been banned for life from being a member of any New Zealand bowling club.

It is understandable why real estate is currently facing the troubles it has. Real estate has a lot of money going around--whether from home-buyers or investors. That's why there are a lot of real estate companies on the lookout for their clients or real estate agents acting on double security. It's up to all the parties concerned to see a peaceful resolution to these clashes.

© 2019 Business Times All rights reserved. Do not reproduce without permission.
Sign Up for Newsletters and Alerts