respa: Bad Press...A One Way Street!
- 04/20/08 06:14 AM
Today there was an article on the front page of our local Newspaper entitled, "Three Real Estate Firms Subpoenaed in Kickback Probe". I chose not to cut and post the link to the article because I happen to know that at least one of the brokers named seems to be a man of integrity and I don't want to give him the negative press. The article DOES go on to say: That's the Good Ol' Newspaper for ya! "The Springs brokerages are not suspected of wrongdoing at this time, said Erin Toll, director of the Colorado Real Estate Division. "... But the damage is … (3 comments)
respa: No Discounts and No Rebates Here! (Most Times)
- 10/31/07 10:42 AM
This post was inspired by another member's question about the upward trend in the market. Although it is illegal to dictate or infer that there is a set price, (Price Fixing), for commission charged...it is apparently not illegal for a brokerage to advertise discounted commissions or rebates to Sellers or Buyers as long as these discounts are contractually agreed upon and any money coming back to a Buyer in a transaction is expressed on the HUD1, (in compliance with RESPA Real Estate Settlement Procedures Act). When I graduated from real estate school about 12 1/2 years ago, I came out with … (6 comments)
Today there was an article on the front page of our local Newspaper entitled, "Three Real Estate Firms Subpoenaed in Kickback Probe". I chose not to cut and post the link to the article because I happen to know that at least one of the brokers named seems to be a man of integrity and I don't want to give him the negative press. The article DOES go on to say:;)
;)
