Realtor Faces License Suspension for Listing Property Without Owner’s Consent
Real estate professionals are in the business to help people buy and sell homes. There is often hundreds of thousands of dollars at stake in a real estate transaction, so ethics is a huge deal. Engaging in fraud and other tactics is not allowed, and doing so can cause a real estate agent to have their license suspended or even revoked.
A real estate broker recently had his license suspended after forging a contract and causing a home to be listed without the homeowner’s consent. The owner of Stateline Realty in Illinois is now facing $14,000 in fines a two-year suspension of his professional license.
The state’s Department of Financial and Professional Regulation began scrutinizing the broker in 2016 after he placed a home on multiple listing services. The home was later sold by another real estate agent.
The broker did not have permission to list the home. He also forged the homeowner’s signature on multiple contracts.
The broker claims that he had permission to list the home by the parents of a family friend. He attests that the signatures on the contracts were real and signed by someone who had ownership stake in the home. The broker claims he spent several years renovating the home before listing it on multiple services. He is upset by the charges and plans to file an appeal.
Unethical Practices in the Real Estate Industry
Many believe the real estate industry engages in many unethical practices. While the practices listed below might not result in a licensing dispute, they are things you should be aware of as a real estate broker.
- Lying about buyers interested in a home. Some listing agents lie to keep their clients happy. They may claim there are interested buyers and even offers on the home when there are not. While more than 30 percent of real estate agents found this was common, nearly 95 percent found this unethical, which is good news.
- Agent makes unsubstantiated claims. Nearly every agent claims to be a “No.1 agent” or “top agent.” How many #1 agents can there be in one area? Don’t try to make these vague claims unless you have received an award telling you so.
- Buyer’s agent shows only the company’s listings. A fair and balanced buyer’s agent will show homes that meet the buyer’s criteria, no matter which company is listing them. When a buyer’s agent shows only the company’s listings, the company gets an unfair advantage. Plus, the buyer is short-changed because the options are limited.
Keep Your License with Help From a Tampa Real Estate Broker License Lawyer
Real estate brokers and other licensed professionals need to act in an appropriate manner at all times. Forging signatures and listing properties without permission are unethical acts that can lead to license suspension.
Hearing that your license may be suspended can be a scary situation, but you don’t have to deal with this on your own. The Law Offices of David P. Rankin, P.A. has 30 years of experience handling licensing suspensions and other disputes. I represent real estate brokers and other licensed professionals. For a free consultation, contact my office today by calling (813) 968-6633.