That's Illegal!

I'm writing this post in hope that more agents will have an open mind and refrain from making false statements. "That's illegal" is a response we received from two agents (this month) who.  1. didn't understand the full details of the transaction or. 2. tried to strong arm us into accepting their clients offer using "fear".

There are many problems when such claims are made. Spreading false information is at the top of the list.  This can hurt clients as well as other professionals in the business.  Complicating the deal is up there as well.  When statements like these are made it can cause everyone involved in the transaction to get scared and have the deal fall apart needlessly. When this happens everybody loses.  With any creative transaction, it's important to seek the opinion of legal council rather than making false statements. The current market is a challenging one and requires both agents and investors to get creative with the structuring of deals. Proper education is vital, and making false assumptions complicates the process. I wish that more agents would stay out of judgment and into curiosity when presented with a scenario they've never seen before. Instead of "that's illegal!", I think a better, more respectable response, would be "let me look into this and get back to you". This can save a lot of headache and deals.