Some month's back, I was a buyer's agent for a property listed by another agency. It was an REO.
(I'm going to use made-up names in this story.)
I'd never heard of the Mary Jones & Associates, Realtors agency before. When I called to tell her I would be submitting a contract...were there any bank requirements? Mary said, "Great!" And then she told me there was an addendum that the bank was insisting on. She'd fax it to me.
Well, after a day or so, I found that Mary had no earthly clue what she was doing. She was very nice to speak with, and was trying hard, but she really didn't know so much as the rudiments of real estate.
I submitted the contract a few days later, and when it was countered by her client, I noticed that the name of the listing broker had been changed from Mary Jones & Associates, Realtors, to Haberdashery Real Estate Associates, Inc. Mary had signed on their behalf.
I went to the web site of the Texas Real Estate Commission and found that Mary was not a broker, but an agent. By her license number it was easy to determine that she had not been an agent for very long.
I then searched for Mary Jones & Associates and found that it was a DBA of the same broker who was doing business as Haberdashery Real Estate Associates, Inc. That broker's main office -- where he officed -- was a four hour drive from Mary Jones & Associates' office.
So what we have is a ruse. Mary is "pretending" to be a broker. She's an agent. And while Mary Jones & Associates has its own phone number, office, signs and agents, it's not a real deal. The public is being misled. Apparently the Texas Real Estate laws permits this; the Texas Association of Realtors must not care.
BILL CHERRY, REALTORS
DALLAS - PARK CITIES
Our 45th Year
214 503-8563
That's interesting. What benefit does she get from this ruse?? Is it people think she is a broker and has experience??
Interesting....i wouldn't necessarily assume that Texas permits it...maybe they just don't know ....boards can be blind or lazy or just not know...
ARE YOU SURE that the TX real estate laws permit that??? I'm surprised. I've always believed that TX ran a pretty clean ship. If they permit a rogue agent to pose as a broker, that is a serious practice.
One of the first rules of advertising for the license law in MD and VA is that the agent will present a true picture of themselves in their advertising, signage, license, etc.
If XXXXX is not a broker, they must disclose and include the name of their broker in all written documents and communications.
Interesting. I don't understand the advantage in doing this. Time and experience will tell. Have a good Tuesday!
In our state, the agent's name cannot be larger than the brokerage's name in any advertising, signage, business cards, etc. and the brokerage name MUST appear with that of the agent.
It is sometimes about the letter of the law and not the spirit or what is right. We see this all the time
That's not permit here.
I would hope all states would have an issue with that practice.
Funny you mention that. The law changes in Washington on July 1, 2010. In two days. All entry level agents are called brokers. Anyone with 3 years experience and who has passed additional testing can be a managing broker, meaning the can run a team and tell other brokers what to do. The designated broker is responsible for the whole office. BUT, individual teams may advertise using their team name only. It will be an interesting mess of mavericks for a few years starting in just 2 days.
Wow is all I can say. I find it hard to believe that deception is legal in Real Estate anywhere
There was nothing that stated the agent Mary was asscoiated with the brokerage? Hmmmm . . . I've heard of independent contractors before, but this takes the cake.
A little scary. This is not permitted in Florida. A broker is allowed branch offices, but it needs to be clearly identified as such and also a manager or broker in charge has to be identified.
Perhaps the problem is the distinction between Broker and Associate?...the distnction is clear here in NH but maybe not everywhere? Or could just be another way to work the system....
Thanks to you all....
What makes me angry is how people are constantly trying to figure out how to get around a law they don't like without actually breaking it.
And there is nothing more passive than the NAR and its state and local boards. If members MLS members were to remove it from the auspices of the Association of Realtors, I'll guarantee you that almost immediately the NAR would all but cease to exist.
And Glenn, what ever possessed Washington to develop that mess? Not one good thing will come from it, and the public will be who will suffer.
Pat, I think that is exactly it. It makes her look like what she isn't. And since the name is a DBA of her broker, that he's the broker and not she doesn't require that notification of the signs, stationery, ads, etc.
Again, it interests me that those who work the same areas that she does haven't bothered to file a complaint with the state and the Professional Standards Committee.
Bill -- It is like the agents who run their own "brokerage" by using a virtual broker.... I don't think that should be allowed either.