The mortgage and real estate industries are bound by a series of rules, regulations, laws, and hopefully by ethics. While there has always been a few that have avoided or just plain disregarded the rules, most of those in the professions of mortgage and real estate have paid attention to the rules and were likely held to task when they didn’t.
The mortgage meltdown led to a huge collapse in the markets worldwide. Most responsible for the violation of trust placed with them have never been held accountable for their actions and some that were, didn’t suffer more than pennies on the dollar for their crimes, forget going to prison for a long time.
Today we are facing larger and more overt violations of rules and regulations than we saw prior to the mortgage meltdown and nobody seems to care! Major companies openly violate norms that have been well established and yet NOTHING happens.
How is it possible that these things happen in broad daylight and it goes almost accepted as part of the new world? How is it possible that companies can violate some of the most basic of all ethics in the real estate community, not communicating with or marketing to, a seller who is already listed their property with a licensed real estate agent and share with them specific strategies on how to terminate that agreement and the benefits of listing with a different agent, one that the company soliciting that seller will be happy to direct them to? You just have to go back last week to the National Real Estate Post and see their piece about the story of an agent in Washington State and wonder how this is possible, but nothing has even been done about it!
Is it possible that the National Association of Realtors® could have missed it? Is it possible that the local real estate board or the State of Washington could have missed it? Is it possible that collecting dues and thinking about what to lobby for is all any of these people are good for? Please go to www.nationalrealestatepost.com and look at the March 1st video. Then ask yourself what is going on?
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