This past week, an agent approached me and said he would like me to join him in a lawsuit against an individual. My first question was, “Why are you suing this person?” His response was, “I paid him $5000 up front and he promised to set up listing appointments for me and when they closed I would pay him a referral fee.”
He said he never received any appointments and the company will not return his phone calls or his letters requesting a refund. He felt that this company was not honest and basically stole his money.
I said, “Why would I be involved in your lawsuit?” … his answer … “The company used the name Mike Ferry in their presentation and I bought the service because of your name." He then said, “What are you going to do about this?” My answer was … “What can I do?”
Two words probably apply here … greed and fraud. Greed … because too many agents actually believe they can “buy” appointments and listings without having to do anything to get them. They believe they can write a check for $5,000/$10,000 and they are going to get 2 or 3 listings a month by just showing up for an appointment. I'm not sure if this is greed, being naïve, or just not very smart.
Why would I say fraud? Because I've had 50 or more agents call me with the same story. To-date, every one of these agents have paid between $5,000 and $10,000 up front … heard my name is used in the sales presentation ... then never received any listings or any valid presentations. There have been hundreds of letters, emails, and phone calls to this company and never a response. They have contacted attorneys but since the company is in the East, they have never pursued the legal system.
So … who is at fault here? Both that company and the agents who are trying to succeed without working!
Is there a solution? Yes. First, do a little due diligence before signing a contract. Second, if you really believe that I recommend this type of service or endorse this service ... call me or email me. There is a solution ... COMMON SENSE!
Mike Ferry
CEO - The Mike Ferry Organization
800-448-0647
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