Posted by mary on February 14, 2003 at 09:07:32:
im an agent trying to do the right thing and wasteing money to put it in my ads when hardly anyone else is.and no im not one to get anyone in trouble,they will do it by themselves.i never thaught of it as personal property.hum makes it cheaper on my ad.thanks.what about real estate purchasing?any disclosure on that one?it really only gripes me when i call on an ad and i know they are agents and are selling these houses with undisclosed termite damage for instance.i was told it had been checked and clear.haha and lost big time on that one.i learned all about buyer beware.thanks for the answer.
ethics - Posted by mary
Posted by mary on February 13, 2003 at 11:22:47:
i have noticed that there are individuals running ads to buy notes that are licensed agents.i thought they had to disclose it in their ad;am i wrong?
Notes not necess. synon. with RE - Posted by John Merchant
Posted by John Merchant on February 13, 2003 at 13:21:16:
A note is personal property, not RE, and your state’s laws & regs for RE Agents may not require an RE Agent to disclose his/her licensed status if it’s not RE per se…find your state’s RE regs on one of the law sites. Might take you all of 5 minutes to find your state’s laws & RE regs.
So what’s YOUR concern? - Posted by John Merchant
Posted by John Merchant on February 13, 2003 at 16:33:43:
Are you an Agent and wanting to do the right thing? Or just wanting to call down the offendors, if they are breaking the law?
If you’re the former, disclose…if you’re the latter, I’d forget it. Notes are not RE, but personal property, and if I were the RE Agents selling or wanting to buy the notes, I suspect I might also choose not to disclose my licensed status.
If the law is unclear, and I were an Agent there, I wouldn’t have a whole lot of concern about this…and would figure that even if I were called on the carpet, “getting forgiveness is easier than permission”.