Why I dislike some Realtors - Posted by Tim Jensen

Posted by JJJ - FL on July 21, 2002 at 23:56:22:

Sounds like jealousy to me. Instead of making money himself he wants to stop you from making it. How sad.

Good luck, and let us know what happens!!


Why I dislike some Realtors - Posted by Tim Jensen

Posted by Tim Jensen on July 20, 2002 at 16:26:17:

Here is an e-mail I recieved from a local agent. I deleted the name and number, as I am not sure I can post that info.

Just and FYI - You can purchase homes and not need a license - but if you prospect for consumers to assist them in securing a lease with option or “rent to own” – you are performing real estate licensed activities. And your ad does not indicate that you are a licensed real estate broker in the state of Illinois - which is another violation of the Illinois statute and rules. If one is licensed one must include the sponsoring broker name in all advertisment. If someone reports you to the Office of Banks and Real Estate - which could result in an investigation and prosecution the State can fine you $25,000 per incident of unlicensed practice. I just thought you might want to know the facts. If you have any questions feel free to call - 3x7-xx40 x 205 Jxxx Crxxxxx - Realtors - Rockford IL

Re: Why I dislike some Realtors - Posted by Nate(DC)

Posted by Nate(DC) on July 21, 2002 at 22:58:46:

Sue them for antitrust violations and restraint of trade. That should get their attention.

Just kidding,

Re: Why I dislike some Realtors - Posted by Sean (TX)

Posted by Sean (TX) on July 20, 2002 at 19:51:48:

Why don’t you drop Matlock, esq a return e-mail and inform him that “You can file lawsuits and not need a license but if you are going to offer Legal Advice through the mail (snail or electronic) the state Attorney General’s Office ,Bar Association, and Secretary of State’s Office have much stiffer penalties for providing Legal Advice without licenses from all of them to practice law.”

Best of Luck,


Re: Why I dislike some Realtors - Posted by Tim Fierro (Tacoma, WA)

Posted by Tim Fierro (Tacoma, WA) on July 20, 2002 at 17:59:53:

When I first started putting up bandit signs about a month ago, I got a call from one of those that felt they had to call and find out who I was.

I answered in the same fashion that I always do and this fella asked if I was an agent. I said that I was and if that would help you with your situation, I would be able to help you by listing it to the public. He went on a tirade about how I couldn’t advertise my signs without the broker’s name on the sign. I told him that the sign was put up by the owner of the company, my wife, and the sign he saw was for a private company that buys and sells properties. He didn’t know what to say since as a private citizen, my wife, can do anything she wants.

Only in America ! - Posted by $Cash$

Posted by $Cash$ on July 20, 2002 at 17:43:23:


Glad to meet you.

Several years ago when I first started in REI I was called everything but a human being by Realtors.

This is because, I told them I did not need them to list or sell my properties.

The real estate agents told me because of what I was doing; selling Contract for Deed, I was going to jail, what I was doing was illegal, they were going to report me to the Board of Realtors, the Attorney General and on and on.

My feelings are as a Private Real Estate Investor I can buy and sell as many properties as I want, as long as I am the principal involved. Only in America, ain’t it great.

Someone did report me to the Board of Realtors. They called and we got into a discussion about violations of my civil rights per USC 1983, I never heard back from them.

These same real estate agents today are listing properties and when they do not sell, telling the house seller, we can do an A.I.T.D., Wrap or Sub2 (whatever you care to call it) and sell your house on Contract for Deed to help you out. These same people who wanted to put me in jail, have suddenly become REI’s.

The difference is they know when they list the house that has little equity and they add there commission on top of the FMV it is not going to sell. I call that a captive audience. Even if the house does have equity and does not sell they still go after the deal.

The real estate person even gets their commission if the house does sell and it leaves the house seller paying the difference out of the their pockets.

Now, I am not saying all Real Estate Agents are bad, there are a few good ones around the country.


Re: Why I dislike some Realtors - Posted by Matt MPD IL

Posted by Matt MPD IL on July 20, 2002 at 16:40:31:

While the agent is correct from what I’ve read in the above message, I’ll assume that you are a principal in any contract that you are working on. That, or perhaps you are selling via lease option on properties that you own. Either way, the real esate agent needs to read just a few more paragraphs in the license law for Illinois and he/she will see that you are not in violation if you indeed are the owner or principal in the above contracts.

Sounds as if this is someone who is either a.) fresh out of school and the ink is still wet on their license, or b.) someone who believes that only real estate agents have the knowledge required to transact business with regard to real property.

If either is the case, go lightly on them as we all know it doesn’t take years of schooling, thousands of dollars in dues/fees or a rocket science degree to buy/sell real estate. It takes simply a desire to succeed, some basic knowledge and oh yeah… a property or two for sale! :slight_smile:

Best of luck and try not to outsell that agent too badly this year!

Matt Yohnk
MPD Investments Inc.

What if YOU are owner? - Posted by JJJ - FL

Posted by JJJ - FL on July 20, 2002 at 19:32:23:

Hello Tim…just curious…

What would you say if YOU were the owner of your own private co, but still a licensee? I’m asking, because I’ll be in that situation soon.


Re: Only in America ! - Posted by Al Miller

Posted by Al Miller on July 21, 2002 at 21:09:00:

Im completely crazy!! I love commissioned sales people and mine them like diamonds. Its like having about 100 free employees that work
for you for no pay - only the chance of making that
3 or 6% when they find you something.
A realtors dream - an Investor with big cash that will go through them on any good deal. Over the years Ive been handed unbelieveable deals
because I could act quickly.
One office alone fed me huge profits because they could
count on getting both sides of the commission and keep
it in their office.
Realtors are often at a disadvantage to investors.
They`re working by the hour and all over the place
to make their money.
Good investors work a certain area and know it better
than anyone.
But those little rascal commission sales people can
really come in handy.

USC 1983 - Posted by Hank

Posted by Hank on July 21, 2002 at 15:56:46:

US Code 1983… What’s that?

Re: What if YOU are owner? - Posted by Tim Fierro (Tacoma, WA)

Posted by Tim Fierro (Tacoma, WA) on July 21, 2002 at 23:52:54:

Funny thing tonight. The joker who called last month about my signs, called again tonight. This time he says he is giving me a last warning or he will report me. I told him if he needs anything, to give me a call.

If this guy gets off on this, let him. We shall see if anything comes of it.

Re: What if YOU are owner? - Posted by Tim Fierro (Tacoma, WA)

Posted by Tim Fierro (Tacoma, WA) on July 21, 2002 at 24:00:42:

Yes, I am licensed, but I am working as a private individual for my own company; but I could help you out with listing your property also. What can I do for you? Should we get together to go over how I can help you?

Work the conversation. If licensed, once disclosed, you owe no more to the conversation regarding it. Then proceed with finding out what they want. If they are just jealous or have some agenda, just ignore it. if they truly need your services, they will continue. The fella that called me didn’t have any come back and the call ended.

Re: What if YOU are owner? - Posted by Rob FL

Posted by Rob FL on July 20, 2002 at 22:10:31:

I always put the word “broker” in small print on my signs. That’s enough disclosure as far as I’m concerned.

The only time the brokerage’s name needs to be disclosed is when you are acting as an agent for a 3rd party and not as a principal for your own transactions. At least that’s the way I read Florida law.

Re: Only in America ! - Posted by $Cash$

Posted by $Cash$ on July 21, 2002 at 22:20:18:

Al Miller,

Glad to meet you.

I have trained a few of those little rascals, sometimes they made more than I did. I laughed all the way to the bank.

Forgot about that one.


Re: USC 1983 - Posted by $Cash$

Posted by $Cash$ on July 21, 2002 at 18:46:14:


Glad to meet you.

Title 42, United States Code, Chapter 1983, in parts has to do with Civil Rights Violations.

In other words be careful, what you tell me I can and can’t do.