Section 8-208. Civil remedies


Latest version.
  • 1.  (a)  Any owner of real property who is
      induced to sell his or her property through or to a real  estate  broker
      or  real  estate  dealer  by  acts committed by such broker or dealer in
      violation of  section  8-203  or  section  8-205  of  this  chapter  may
      institute a civil action against such broker or dealer.
        (b) If, in an action instituted pursuant to this subdivision, judgment
      is  rendered  in  favor of plaintiff, such plaintiff shall be awarded as
      damages
        (i) the  amount  of  any  gains,  whether  in  the  form  of  profits,
      commission,  or  otherwise,  realized  by defendant as the result of the
      first subsequent  arm's  length  sale,  exchange,  or  transfer  of  the
      property,  or,  if  defendant  acted  as  a  broker,  the  amount of any
      commissions  received  by  defendant  through  the  sale,  exchange,  or
      transfer  of  plaintiff's  property,  such  gains  in  all  cases  to be
      calculated without regard to any expenses incurred by the defendant, and
      may in addition be awarded reasonable attorneys' fees and  court  costs;
      or
        (ii)  if  the  defendant has not realized any gains as defined in this
      subdivision, an amount equal to the difference  between  the  price  for
      which  plaintiff  sold  his or her property and the fair market value at
      the time of the sale, or the fair market value of the  property  at  the
      time  the  action is commenced, whichever difference is greater, and may
      in addition be awarded reasonable attorneys' fees and court costs.
        2. (a) Any buyer, through or from a real estate broker or real  estate
      dealer,  of real property the last owner of which, excluding such broker
      or dealer, was induced to sell, exchange or transfer his or her property
      by acts committed by such broker or dealer in violation of section 8-203
      or section 8-205 of this chapter may institute a  civil  action  against
      such broker or dealer.
        (b)  If,  in  an  action  instituted pursuant to paragraph (a) of this
      subdivision, judgment is rendered in favor of plaintiff,  the  plaintiff
      shall be awarded as damages the amount of any gains, whether in the form
      of  profits,  commission,  or  otherwise,  realized  by defendant as the
      result of such plaintiff's purchase of the property, such gains  in  all
      cases  to  be  calculated without regard to any expenses incurred by the
      defendant, and may in addition be awarded reasonable attorneys' fees and
      court costs.
        3. With respect to the sale, exchange or transfer of any property, the
      liability of a broker or dealer  created  by  subdivision  two  of  this
      section  shall be independent of and additional to the liability of such
      broker or dealer created by subdivision one of this section.