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RESPA rules no more flyers

I'm sure you all know that the RESPA rules for next year dealing with Title reps. No more flyers not even updating a photo. It has been a mad house for some agents. Its almost like some people are going to have all their flyers made for next year by their favorite title reps.

If any of you are enterprising we should work together gathering of all the templates we can and share. I will redo some of my youtube vids on how to work with publisher

To the title reps, we will miss you when it comes to flyers but follow the rules and don't get fired.

Posted by David Wang | Prudential | 650.504.8190 on 11/25/2008 04:04 PM

Comments (7)

Make Those Flyers Now in the Offline Marketing Channel

respa new rules for next year

7 Comments on RESPA rules no more flyers

NOV

2008

David -

You don't mess with RESPA!

And those flyers lenders want to help you with - I've heard they will crack down even further here as well - true?

Enjoy the Thanksgiving Holiday - safely!

DEAN & DEAN'S TEAM CHICAGO

Does that include mortgage people as well? I have 3 mortgage people delivering flyers to the office for my new listings. I feel bad wasting them but I dont even use flyers. I have a automated number to capture people inquiring about the homes. Flyers just leave and I never talk to the people who take them.

Youch! I use adobe CS2 to create my flyers. You can use vflyer and postlets to do so also I believe!

I think most of us know how to make a flyer? At least I hope, it's paying the printing cost that stinks.

I didn't realize title folks did this! My company has a standard brochure and we have them provided on every listing. Guess I'm a little spoiled.

It has NEVER been legal for title agents to make your fliers for you. Nothing new here. The clock is running and you have one year from the last flier they made for you before the statute of limitations on RESPA runs out and you don't have to worry about the FBI knocking on your door. However, you just published a nice invitation for them.

However, you may not be out of the woods after one year either. If you analyze this from your clients' point of view, they may have a cause of action against you for accepting something of value intended to alter the advice you provided them. That's called commercial bribery when it involves a fiduciary and it is also of course is a breach of fiduciary duty. Typical damages for a breach to the duty of loyalty is forfeiture of all fees earned.

It is for exactly reasons like this that the selection process needs to be fixed. Realtors should not be selecting title agents or loan officers or home inspectors for their clients. It creates too much of a temptation for illegal activity.

JAN

Hi David,

I'm glad I have always made my own flyers and pretty much all of my own marketing material. It may not be the best but it is mine and I do not need to rely on anyone else at this time to help me. I'm also fortunate enough to have a good arrangement on printing, so the RESPA, no more flyers doesn't effect me much, although I will miss some other things that they can no longer do...

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