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Better Business Bureau ®
Start With Trust®
In Denver & Boulder, Colorado
BBB Sees Rise in Real Estate Complaints
July 30, 2013

DENVER – Home sales are on the rise and the trend is affecting complaint volume at the Better Business Bureau of Denver/Boulder. The BBB says so far in 2013, it has seen a 43 percent combined increase in complaints against real estate services, property management firms and mortgage brokers.

“The BBB expects all business transactions to involve a level of trust but in industries such as real estate, trust is especially crucial,” said Su Hawk, president and CEO for the BBB of Denver/Boulder. “Because there is so much at stake, we urge the public to carefully research companies first and find BBB Accredited Businesses to hire on our website.”

A variety of problems in the real estate industry have been seen in BBB complaints this year including issues with incomplete services and unpaid payments. The BBB is also observing a new issue for brokers who provide appraisal services to real estate firms. According to several complaints, those brokers do not get paid timely, if at all, for their services.

According to the National Association of Realtors®, home sales are well above year-ago levels, and the median price shows seven straight months of double-digit, year-over-year increases.

Whether you are buying, selling or offering your property to rent, the BBB offers the following tips:

· Start with trust. Always check out any company with the BBB before hiring. Find a BBB Accredited Business and get quotes using the BBB’s free Request-A-Quote service at denver.bbb.org.

· Verify credentials. Mortgage brokers who originate Colorado residential mortgages must be licensed with the Colorado Division of Real Estate. Check out brokers and real estate professionals with the state.

· Ask questions. Real estate matters require many details and disclosures so it’s important to understand each step of the process thoroughly. Get everything in writing and ask questions to increase your confidence, understanding and trust.

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About the BBB

The BBB is an unbiased nonprofit organization that sets and upholds high standards for fair and honest business behavior. Businesses that earn BBB Accreditation contractually agree and adhere to the organization’s high standards of ethical business behavior. The BBB provides objective advice, BBB Business Reviews, BBB Charity Reports and educational information on topics affecting marketplace trust. To further promote trust, your BBB also offers dispute resolution services for consumers and businesses. The first BBB was founded in 1912. Today, there are 113 local, independent BBBs across the U. S. and Canada. Please visit denver.bbb.org for more information.