This real-estate scam can land you in jail......

This real-estate scam can land you in jail

In some cases, ‘flopping’ is a crime with serious consequences

http://www.marketwatch.com/Story/story/print?guid=1B883062-A0CE-11E0-9F46-002128049AD6



Dear friends and colleagues,

I wanted to share this article with you I read on Market Watch. Those of you who have attended one of my events with my Real Estate Attorney “David Bright" know how passionate we are about education in the short sale market to ensure we are all operating above board and in the same return protecting all parties involved in the transaction. Please take time to read it.




I found this very interesting. As a listing agent in a short sale transaction our fiduciary duty is to the seller and the lender. To help the homeowner experiencing a true hardship; to find a serious and committed buyer and bring the lender the highest best offer. PERIOD. There is no easy way around it. No short cuts. Though this process can be very frustrating at the end of the day if the process is done properly then it will be a win win for everyone. If it is not, then we run the risk of potential legal ramifications. I don’t know about you, but I would much rather be able to close my eyes at night and actually sleep.





The BPO agent’s fiduciary duty is to the lender. I personally have only ran into issues with BPO agents driving my values up not down. Which is why I have developed the listing history method. This helps me when I am in a value dispute situation. So, now we have" Flippers and Floppers" to watch out for. Ha!





It is unfortunate to me that so many people are willing to create situations such as these. This is not a market to mess around with. Our number one goal should be to help homeowners who really need the help avoid foreclosure. The only way to do that is to take on qualified clients; know what the lender is looking for and act accordingly to reach that goal upholding our integrity and ethics. .





I believe if we truly have our client’s best interest in mind all of our good intentions and efforts will come back tenfold.




(Quote) "There are seven things that will destroy us: Wealth without work; Pleasure without conscience; Knowledge without character; Religion without sacrifice; Politics without principle; Science without humanity; Business without ethics."

— Mahatma Gandhi




REALTORS, what is in your business plan this year? What are you doing to create a system that will allow you to build your short sale business? How often are you out there prospecting and how do you know if you are taking the listings that are going to be successful and not a waste of your time?




Call us today and let us show you a system that works to help you expand your business and effectively and efficiently close short sale transactions.





LOTUS REALTY GROUP



PROFESSIONAL SHORT SALE NEGOTIATORS




At Lotus Realty GROUP, helping people ethically succeed is at the forefront of who we are...


Call today to find out how Lotus Realty Group can assist you in closing your short sale transactions or go to WWW.LotusRealtyGroup.com