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You're the Ethics Expert: How Would You Rule?

By
Real Estate Agent with Bill Cherry, Realtor 0124242

 

 

A postcard from a fellow Dallas Realtor came in the mail a few days back to our house.  I thought he did a good job with his writing.

 

However, I found several statements that I know were considered ethics violations in prior years. 

 

I send him an email that suggested he check those items with an authority at the Metrotex Association of Realtors.

 

Here they are:

 

1.     He showed a photo of the house that had sold, and the price.  The quoted price, however, was the listed price of about $499,000.  I looked the sale up on the MLS, and it had sold for about $480,000.

 

          I say that infers that he sold the house for an inflated amount, and that   

          is unethical. 

 

2.     The listing that he sold was not his or his firm's, but was a co-op with another broker, who was the listing agent. 

 

          I say that he should disclose that the listing was not his, but that of             another agency, and I would prefer he show that agency's name.

 

3.     The card listed a web site where an interested party could immediately determine the value of their own home.  That internet address didn't exist.

 

          Misleading information is a violation.

 

Well what's interesting is that he told me that he did show the postcard to the person in charge of ethics review at Metrotex, and that person said there were no violations.

 

What do you think?

 

BILL CHERRY

Broker-Realtor

Since 1966

Keller Williams Dallas Premier

Direct: 214 503-8563

BillCherryRealtor.com

Comments(12)

Wayne Zuhl
Remax First Realty II - Cranford, NJ
The Last Name You'll Ever Need in Real Estate

I'm not sure that #2 would qualify as a violation with our board. The buyer's agent sold the property also. I wonder if #3 is a typo? There's no benefit to him to put a bogus website on his advertising piece. In my opinion, though, #1 is a violation. 

Aug 01, 2015 12:07 AM
BILL CHERRY
Bill Cherry, Realtor - Dallas, TX
Broker & Wealth Coach

The legal opinion in years back was that a co-op agency that sold the listing of another agency was, in fact, an agent of that company.  Therefore, he/she had to disclose that the listing was not his/her agency's.

Aug 01, 2015 12:10 AM
Tom Arstingstall, General Contractor, Dry Rot, Water Damage Sacramento, El Dorado County - (916) 765-5366
Dry Rot and Water Damage www.tromlerconstruction.com Mobile - 916-765-5366 - Placerville, CA
General Contractor, Dry Rot and Water Damage

It sounds like the postcard is misleading, regardless of whether or not it was ethical BILL CHERRY 

Aug 01, 2015 12:22 AM
Bill Roberts
Brooks and Dunphy Real Estate - Oceanside, CA
"Baby Boomer" Retirement Planner

BILL CHERRY Good morning. The reported sale is OK at the listing price if the escrow hasn't closed yet, but if it is a closed sale then it is false and misleading, a clear violation of ethics rules and probably law as well.

Bill Roberts

Aug 01, 2015 12:29 AM
Lenn Harley
Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate - Leesburg, VA
Real Estate Broker - Virginia & Maryland

I think he lied when he said it has been approved.

Aug 01, 2015 12:40 AM
Jerry Lucas
ABC Legal Docs LLC - Colorado Springs, CO
Notary Training, Consulting. Colorado Springs, CO

Notaries have to follow state notary laws.  In addition, I recommend that my notary students follow the Notary Code of Professional Responsibility, published by the National Notary Association, which provides professional and ethical standards.

If an industry or association publishes ethical standards, members should follow them to avoid problems.  But, some topics may be subject to interpretation, then it becomes fuzzy.  The ethics review committee would need to look at the evidence and make a ruling.

Notaries must avoid giving legal opinions, advice or interpretations to avoid unauthorized practice of law.

Sadly, I think that, in general, ethics are in decline.  Too many people are motivated by greed, and don't see any problem with breaking the rules to achieve their goals or agenda. 

 

 

Aug 01, 2015 12:42 AM
Kathy Streib
Cypress, TX
Home Stager/Redesign

Don- I don't know what a local Board would say, but in my consumer's eye, it seems to be misleading information. 

Aug 01, 2015 01:45 AM
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

I think his statement about ethics being approved his highly doubtful. I know in Oklahoma this would not be tolerated if a complaint was filed.

 

Aug 01, 2015 05:10 AM
Rob Arnold
Sand Dollar Realty Group, Inc. - Altamonte Springs, FL
Metro Orlando Full Service - Investor Friendly & F

Definitely borderline information.  Exaggerations and misleading information is an ethics violation. 

Aug 01, 2015 06:44 AM
Pamela Seley
West Coast Realty Division - Murrieta, CA
Residential Real Estate Agent serving SW RivCo CA

#1 would be considered misleading and false advertising and most likely illegal under state law. #2 is definitely unethical, listing broker should be on advertisement if claiming sold the home on buyer side. I don't know about #3 except that is dumb, or something happened to the website since the mailing. 

Aug 01, 2015 07:20 AM
Troy Erickson AZ Realtor (602) 295-6807
HomeSmart - Chandler, AZ
Your Chandler, Ahwatukee, and East Valley Realtor

Bill - If nothing else, this seems to be a shady way to advertise. I don't believe that the agent showed the postcard to the person in charge of ethics.

Aug 02, 2015 04:35 AM
Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Buy Daytona condos for heavenly good prices

Bill - looking at something and seeing it and comprehending is not the same. I believe you are correct on all accounts.

Aug 15, 2015 01:40 PM