Uyen Cao, Real Estate Pro in Sacramento County, CA

Have you been hearing rumors of illegal practices that are going on between the buyers, sellers, and agents especially on short sale transactions?

Asked by Uyen Cao, Sacramento County, CA Wed Dec 12, 2012

Not once but several of my buyers are telling me that they have been told that certain buyers are now giving kickbacks to certain sellers to entice the sellers to accept their offers. If that is the case, then certain real estate agents are involved in the practice as well. Is that true?

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4
We will be reading about them in the paper soon as being prosecuted and imprisoned.

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Sheryl Arndt, Real Estate Broker – Sr. Loan Officer CA only
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0 votes Thank Flag Link Thu Dec 13, 2012
You can probably assume that if there is a loop hole in the system that someone will find it. With this said, it probably has happened and will happen again. Whether or not it is a common practice is open to debate but if there are inapproprate/unethical/illegal activities that RE agents are involved with, they are taking a huge risk. Some will eventually be caught...others will not.

I view this as a broker responsibility that should be addressed sooner than later.

Good post.

Bill
0 votes Thank Flag Link Thu Dec 13, 2012
"They" are the most misquoted people in history.
Take care of that for which YOU must care. Chasing the rumors of rumors takes too much energy and poisons the environment in which we must conduct our work.

Best of success to you,
Annette
0 votes Thank Flag Link Thu Dec 13, 2012
Who knows? Kind of a tough question to answer since no single agent is going to know what;s going on everywhere. The market is so tight that nothing would surprise me.

Regardless of what others are doing legally or otherwise, all we as agents can do is keep our noses clean and tread forward. My license means to much to me to dabble in anything that is not perfectly legitimate. What others do is none of my business.
0 votes Thank Flag Link Wed Dec 12, 2012
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