Unethical and/or illegal real estate practices will definitely catch up to those who engage in such behaviors.
The Washington State Department of Licensing recently suspended the licenses of brokers engaging in unethical/illegal practices regarding short sales.
Read the full blog post - here is an excerpt:
Investigators found evidence of ongoing patterns and practices that financially harmed consumers. These practices included:
- misrepresenting to sellers that the home would be purchased by the broker if it didn’t sell within 30 days
- telling homeowners to stop making mortgage payments so they could do a short sale
- listing homes at prices not authorized by the homeowner
- listing homes at artificially reduced prices in order to generate low-ball offers
- misrepresenting the contents of listing agreements by having homeowners sign blank addenda and later filling in unacceptable list price authorizations
- failing to provide sellers with copies of executed listing agreements
- telling homeowners to vacate their home before they were legally required to do so
- communicating negligently with homeowners, potential buyers, and lenders
Get Educated on Short Sale Best Practices, Applicable Laws, and Negotiating and Processing Short Sales.
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215 & W. Russell Rd. Take Jerry Tarkanian Way to W. Oquendo Rd.)
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