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03-23-2006, 07:15 PM
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#1 (permalink)
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Status: Senior Real Estate Forum Member
Join Date: Feb 2006
Posts: 140
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Kickbacks
Four real estate brokers were fined $80,000 for RESPA violations in Detroit. They were fined for overcharging and accepting payment from Metropolitan Title Company for the use of conference rooms. HUD determined that the rates of the conference rooms were substantially higher than the fair market value. I guess someone should have told these guys that kickbacks are illegal.  |
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03-24-2006, 06:52 AM
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#2 (permalink)
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Status: Administrator
Join Date: Apr 2005
Location: Missouri
Posts: 887
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Like the old saying goes “honesty is the best policy”.
The public’s misconception that REALTORS® charge too much for their services only grows with this type of incident unfortunately.
~VegasMack
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03-28-2006, 04:30 PM
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#3 (permalink)
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Status: VIP Real Estate Forum Member
Join Date: Apr 2005
Posts: 1,131
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Well, in my opinion, everyone should be aware of the fact that kickbacks are illegal! Not only do we learn that in real estate school, but any broker in which I have ever worked with or interviewed was very clear on the topic. I think that people get what they deserve. Especially places like the Las Vegas real estate market where everything is so copetitive, agenst who get greedy and break the law should be penalized!
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05-25-2006, 02:17 PM
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#4 (permalink)
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Status: VIP Real Estate Forum Member
Join Date: Apr 2005
Posts: 1,056
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I find it very hard to believe that anyone in this industry is or was unaware of kickbacks! I knew that they were illegal before I was even licensed here in the Las Vegas home market! In my opinion, those who violate the rules, get what they deserve in the end!
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05-25-2006, 07:18 PM
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#5 (permalink)
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Status: Moderator
Join Date: May 2005
Location: Portland, OR
Posts: 479
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Those greedy guys are really a disgrace to our industry. I'm glad they got caught.
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05-28-2006, 06:46 PM
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#6 (permalink)
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Status: VIP Real Estate Forum Member
Join Date: Apr 2005
Posts: 1,008
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I am with the rest of you guys! Anyone in the Las Vegas real estate market, or anywhere else for that matter, deserves to be caught. Kickbacks are the common known illegal action in which a Realtor, title company, etc ca make, so I do not think that there should be any excuses accepted!
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05-30-2006, 02:43 AM
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#7 (permalink)
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Status: Real Estate Forum Member
Join Date: Mar 2006
Posts: 54
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i seldom kickback in our school projects during school days. lol (im off topic)
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06-15-2006, 01:54 PM
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#8 (permalink)
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Status: Senior Real Estate Forum Member
Join Date: Feb 2006
Posts: 140
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It's like my old man told me growing up, " If you're gonna play, you're gonna pay". For those slow ones out there it means if you're a bad boy ( or girl) you will be punished.  |
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