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3 Comments

  1. 1

    John

    In 1980, I bought a house through a licensed real estate salesperson. She told me she would arrange for a termite inspection, which she did. A week later, she called to say that the report came back, and there were no termites. What she failed to pass along was the inspector found dry rot at the bottom of the back stairs (this was winter) and the stairs needed to be replaced. Cost me – after the closing. But she got her commission check, just like she wanted to .

    Real estate people look out for themselves. Sales generate paychecks. And, unfortunately most omissions will not be discovered until months after the transaction. Buyer beware.

  2. 2

    Raylando

    Well thought out article and very much to the point. It seems as if the statutory requirement to be a licensed Real Estate Associate implemented by State Legislators does not translate to a somber realization by the Sales organizations of the fiduciary responsibilities that come with it. At least in Florida, I think it would be very beneficial for the Associates as well as the Consumer if the 14 hour Continuing Education requirement for Licensees have a curriculum and test for those specifically involved in Timeshare sales. At least requiring them to KNOW the law would be a good first step to expecting them to respect it.

  3. 3

    Paul

    Licensing has never been the issue or problem.

    Some of the biggest fraudsters in the world like Bernie Madoff who was once the Chairman of NASDAQ, an attorney, a stock broker, an investment advisor and financier operated the biggest Ponzi scheme in history

    All or most of those titles required schooling, registration and licensing and if you’ve been living under a rock and don’t know; Mr. Bernard Lawrence Madoff ripped off investors tens of billions of dollars.

    I do agree that education, schooling and licensing are important but when all the ink is dried the only thing that really matters is that amoral sales people and business owners will do what they do best.

    Licensing those of us that sales timeshares, cars, RV’s, boats, motorcycles or solar etc. is what it is; a revenue source to feed the bureaucracies and agencies that can not and most often do not help any consumer until way after the evil deeds are done.

    That help, often limited to filling out some forms etc. rarely returns money to the consumer; but is great Press for the Agency because as we all know they exist to help us all (LOL).

    Now, however, in this era whereby any consumer who so desires can hook up to the Internet and check out anything and everyone before they make a purchase decision really have, in many instances, no excuse for not understanding what they are about to buy be that a product or services.

    It’s as old as time itself; Caveat emptor (buyer beware).

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