The following excerpt is from McDermott v. Related Assets, LLC, 998 N.Y.S.2d 306 (Table) (N.Y. Civ. Ct. 2014):
As noted above, real estate brokers insist that they are professionals, and as professionals they are to be held to a higher standard than an unsophisticated, untrained buyer and seller. This court has previously held that along with receiving a license, brokers and salespersons are charged with knowledge and responsibility to check the public records to confirm any information the broker is conveying to the potential purchasers. [Acquino v. Ballester, 37 Misc.3d 705 (2012) ; Olukotun v. Reiff, NYLJ 8/1/8/04, p. 19, col.1]. Counsel for defendant has cited several cases holding that New York follows the rule of caveat emptor that is let the buyer beware. Defendant argues that as a result the claimant should be charged with knowledge of any facts which the claimant could have obtained using reasonable means of inquiry and defendant has no liability.
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