Thankfully the Federal Trade Commission has issued a statement that they are cracking down and investigating many of the so called get rich schemes. This includes the ones that promise people they can get rich buying and selling real estate without using their own money.
How many times, as an agent, have you been asked about these stupid schemes. You want to be honest and let people know they are not legitimate but at the same time you don't wnat to be too critical because then it sounds like sour grapes and you are jealous. You end up walking a tight rope while these crack pots make money hand over fist ripping people off. I think overall it hurts real estate agents in the public eye because the public does not distinguish the difference between the real agents and the phonies.
I applaud the Federal Trade Commission for this move and hope they continue to make sure that honest people are not taken advantage of. It also helps us agents trying to earn an honest living and help people realize their home ownership dreams.