SD Realtor: While I would agree with your sentiment that there is not widespread victimization going on, I would also point out a slight flaw in your argument. You are predicating your argument on the fact that people are, by and large, educated and professional like yourself. If someone is knowledgeable and knows the right questions to ask, it is a very different proposition from someone who is not and does not.

A quick read on the sub-prime mess shows a whole lot of people who never thought twice about asking some fairly basic (and commonsensical) questions about something as significant as their mortgage. There is a level of basic financial fundamentals missing in this equation.

If a realtor or broker was looking to pull the wool over someone’s eyes regarding D.O.M. metrics, I would think that, unless the person was someone knowledgeable about the process, it would be fairly easy to do.

You also have to remember (going along with your “ask professionals the questions” assertion) that most people have a certain level of deference to someone they perceive as a professional and take quite a bit of information at face value, as a result.