Lynda S. Gibbons, Brent Wilson, and Gibbons-White, Inc., a Colorado Corporation v. Gregory T. Ludlow, S. Reid…

Summary

The court held that a plaintiff alleging professional negligence by a transactional real estate broker must prove that, absent the negligence, the plaintiff either would have obtained a better deal or would have been better off walking away from the transaction. The Sellers' appraisal, prior unsuccessful offers, and testimony about other potential buyers did not establish that they could have sold the property for more or otherwise avoided a financial loss without speculation. The court therefore reversed the court of appeals and reinstated summary judgment for the Brokers, including the award of attorney fees and costs. Justice COATS, joined by Justices HOBBS and BOATRIGHT, dissented, arguing that the Sellers alleged loss of a valuable property right and that the appraisal created a genuine dispute about injury and damages.