Caveat Emptor

In the early days of real estate, the industry operated under the principle of “caveat emptor”, meaning “let the buyer beware.” Buyers were largely on their own to discover problems with a property, and sellers and agents were not always required to disclose important information. This lack of oversight often led to unfair practices, misinformation, and financial harm to consumers. As real estate transactions became more complex and involved larger sums of money, it became clear that rules and standards were necessary to create fairness, honesty, and accountability in the marketplace.