Reply to Reporting Realtor for Ethics Violations

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I used to own a large title company. Let me assure you that by realtor standards this is nothing and reporting her will have virtually zero effect.

About 15 years ago we used to remit agent commissions via check. We FedEx the check to the brokers office. We got a call from the broker stating that they never received it. We provided the FedEx signature at which point they acknowledged that it was lost and asked us to reissue. We put a stop payment on it and reissued it. A lot of people don’t know that stop payments are only good for six months so we also had the broker sign an indemnification agreement agreeing that if the original check was ever cashed that they would upon demand immediately reimburse us and if they didn’t cover attorneys fees. Literally 6 months and 2 days later they cashed the original check and then refused to return the funds to us.  I sued and won.

Then I filed an ethics complaint. The broker was required to complete 3 hours of ethics training within the next 12 months as punishment, which time the broker can use for her otherwise mandatory continuing education.

That was actual theft. That is how serious realtors take ethics. And how serious their punishments are. [/quote]

If what you are saying is true, that would be an actual crime and not an ethics violation that would go to the board. [/quote]

I am the former title company owner.  It may technically be a crime but if you think the police will do anything about that you are mistaken.  It’s too complicated for the police.  Technically we wrote the 2 checks.  Needs to be way more black and white for the police to do anything.  [/quote]

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