Using a real estate agent to purchase or sell a home is likely to be one of the most important financial choices you will ever make, so choose wisely. The California Department of Real Estate oversees all salespeople and real estate brokers and investigates allegations and sanctions professionals who break the rule.
The California Department of Real Estate has helpful hints for homeowners, borrowers and mortgage loan practitioners on its website as well as an online booklet called Finding the Right Real Estate Agent. Market guides on homeownership and valuable knowledge on mortgage loan programs are also available from the California Department of Business Oversight.
Complaints About Real Estate Agents and Firms
For more information on filing a lawsuit against a licensed real estate agent, call or go to the DRE’s website. When consumers are defrauded or a real estate licensee misappropriates their assets, the California DRE manages a victim’s fund called the Consumer Recovery Account, which helps them seek monetary compensation. For more details, go to the California DRE’s Customer Recovery Account website.
Escrow agents, mortgage loan brokers and other financial services are licensed and supervised by the California Department of Financial Security and Innovation (DFPI). For updates on mortgage-related problems and how to file a lawsuit against mortgage brokers or other licensees, go to the DFPI website.
If you suspect a real estate agent of engaging in illegal activities such as fraud, robbery or embezzlement, you can also contact the local district attorney’s consumer protection division. You may also file an online complaint with the attorney general’s office by accessing the Consumer Complaint Against a Business/Company website.