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Short Sale Scams Dupes Un-Suspecting Realtor....Are You One?
Be very careful with who you do business with.
Here lately, many Realtors are be contacted by people who claim they can expedite the Short Sale process or offer you double commission on your Short Sales. Be careful!
These 3rd parties (typically investors or an investment firm) offers to negotiate the Short Sale on behalf of the homeowner and, all you (the original Realtor) have to do is set back and let them run the show. sounds great...right? Well, it's not and let me explain why.
First off, only 4 people are allowed to represent a homeowner when selling their home and they are....
1. A licensed Realtor
2. A licensed Mortgage Broker or Loan Officer (available only in some states)
3. A qualified housing counselor by a government agency
4. An Attorney
Because these "investors" are not one of the above but, you allow them to work the deal (because their recent advertisement to you said, they do it all and, well.....you let them) then you (the Realtor) just became negligent in your fiduciary duty to the client and they are involved in illegal representation.
Ok, so the Realtor (original Realtor) got the bank to agree to a price of ... more

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