$5,750,000 (sold)

Scott O’Connor was engaged as an expert witness defending a real estate broker who listed and sold the Pretty Penny Ranch at 8330 E Thunderbird Road, Scottsdale, AZ, for its then owner in 2006.

The transaction was completed at the absolute peak of the market before the recession of 2008 completely took hold; a heroic price was achieved, and paid in cash.

Unfortunately, the seller invested all of the proceeds in poor investments and lost most of her equity.  On advice of counsel, she sued the broker, claiming he had been the reason she lost money after the fact, because (in a separate transaction) she asked him to lend her most of his sales commission to finance the purchase of a new home.  As plaintiff, she argued that this created a conflict of interest and breach of his fiduciary duty to her as her agent.

The claim was a travesty of justice and fair play, but the trial court ultimately awarded a verdict in the plaintiff’s favor, and the defendant could not afford to appeal.