August 26, 2009

Vegas real estate firm denies claims

A Las Vegas real estate company says it can't find any evidence of corners being cut as alleged by a former agent featured in a Time magazine article.

Jeff Sommers, president of Coldwell Banker Wardley Real Estate, told the Las Vegas Sun an internal investigation failed to turn up any cases involving the fast-and-loose practices described by Brooke Boemio in a story about the Las Vegas real estate market.

In the article published Aug. 24, Boemio describes breaking into a foreclosed home and helping financially strapped clients buy a new home and let their current residence slip into foreclosure, the Sun reported Wednesday.

Sommers said such practices would violate company policy, and also released a statement contending Boemio was misquoted in the story.

The Sun also said Nevada real-estate licensing officials were aware of the Time story and were looking into the matter.