Have You Made This Mistake?

[HHI Golf Guy]

From time to time I provide assistance to real estate agents outside of my client list. One item that recently came up on a site was a section referring to investing and making money.

As a reminder, it is a violation of real estate law to guarantee or even imply future profits on a home, land, or even rental property.

What you can do is provide historical information on past transactions. Violations of this law may result in fines and / or license suspension.

The best thing to do is stay away from the word "invest" as much as possible.

[cutreal]

I will. This has not been known to me before reading the post
Thx.

[teamgreene]

Good info. I tell people all the time what a good investment real estate is. I had no idea.

[kensmith]

It's a historicly strong and stable investment ;) .

It does amaze me how many agents forget everything they learned to pass their exams.

[teamgreene]

I changed it. I told them that these were just my opinions, and that if they wanted a sure thing they should put their money into a piggy bank.:rolleyes:

[HHI Golf Guy]

It does amaze me how many agents forget everything they learned to pass their exams.

Some agents will say or do anything to close a deal.

[Ralph]

My background was in the financial planning, and I find it scary how easily real estate agents treat the term investment and the type data that is given to a potential client looking for investment property. We were trained over and over to be aware of security laws and to always practice due diligence. It only takes one hungry attorney to ruin a career or business. Along the same line is giving tax advice or opinion. As the economy tightens up, some investors cannot believe they would ever make a mistake and look for someone to blame. The sharks are out there and they have their place, just do not let yourself become a victim from being lax.

[Thesa]

I tend to not use words such as invest or investment in my marketing - I too see it used time and time again -often wonder how easily it would be for even a disgurntaled client to make life fairly unconfortable for an agent or broker that used the term "great investment" and it turned out to be a money pit.