Brokers Could Face License Suspension for Harassing Homeowners
In this uncertain economy, many homeowners are hanging onto their homes. This means that real estate brokers need to be even more aggressive in order to survive in the current housing market.
Some resort to extreme tactics to encourage homeowners to sell. They may even go as far as to knock on a person’s door and present unsolicited offers in an effort to entice them to lease or sell their home.
Many homeowners do not find this form of harassment welcome, especially if they are not in the market to sell their home. As a result, many cities have banned this sales tactic and real estate brokers who violate the law can face punishment as severe as license suspension or revocation.
The Department of State in New York starting enforcing cease and desist regulations on January 1. This allows New York residents to add their names to a list to prevent harassment from real estate brokers—similar to the “do not call” list. Residents can sign up by adding their names to the Department of State website.
All of Queens was designated as a cease and desist zone from 1989 to 2014, when the regulations expired. But real estate brokers starting approaching homeowners again with sales proposals, so lawmakers brought the regulations back.
Real estate brokers who violate the regulations will face punishment, which will depend on the severity of the incident. Penalties range from reprimands to $1,000 fines to license suspension or revocation.
Real Estate Ethics Under Florida Law
While not all states have similar laws in place, Florida Statutes Chapter 475 outlines the requirements of real estate brokers. One of the biggest things that has been overlooked in the past is disclosures. Many real estate agents fail to disclose certain aspects of a property in order to sell the property quicker and essentially make a quick buck.
Real estate brokers who approach homeowners without their permission are doing so unethically. While it’s important for real estate companies to market their services to potential clients, there are less invasive ways to do so.
If a home buyer or seller is dissatisfied with a real estate agent and feels that he or she violated a law of ethics, very few file ethics complaints. They are more likely to hire a lawyer and file a lawsuit, which will likely result in more compensation for damages.
Keep Your License with Help From a Tampa Real Estate Broker License Lawyer
Real estate brokers have many ethical issues to keep in mind while working. If they engage in actions that harass homeowners, they may face punishment. It is possible for them to even lose their license.
Your real estate license is your livelihood. If you are facing punishment from the board, you need someone on your side who can help. The Law Offices of David P. Rankin, P.A. can help you keep your license. I have 30 years of experience representing real estate brokers and other licensed professionals. For a free consultation, call my office today at (813) 968-6633.