What is the Florida Real Estate Commission?
What is the Florida Real Estate Commission?
What is the Florida Real Estate Commission (FREC)? The Florida Real Estate Commission (FREC) was created to protect the public through education and regulation of real estate licensees. The Commission consists of seven members appointed by the Governor, subject to confirmation by the Senate.
How do Realtors report unethical behavior?
Complaints against Real Estate Agents or Companies If you have a complaint against a licensed real estate agent or business, visit California DRE’s website for details on How To File A Complaint, or call the California DRE Public Information Line at (877) 373-4542.
What can you sue a realtor for?
Common lawsuits against real estate agents involve legal claims for such things as:
- Negligence;
- Breach of listing agreement;
- Hiding, not disclosing, or concealing of information;
- Fraud;
- Misrepresentation;
- Breach of statutory duties;
- Breach of fiduciary duties;
- Breach of duty by self-dealing;
Why is Underquoting bad?
Just to make things clear… the practice of underquoting is where agents lure potential purchasers to look at a property (usually for sale by auction) with the suggestion that the property will sell for much less that they believe it will. It is illegal and many would say unethical, but it certainly still occurs.
Why do real estate agents Underquote?
Why does it happen? An agent is always going to want to increase the interest surrounding a given property as much as possible in order to boost the price come auction day or slowly over the duration of the selling period.
What does Underquoting mean?
Underquoting is about misleading sales practices by agents. Underquoting occurs when an agent makes representations about the price of a property – either through advertising or in one-on-one dealings with a potential buyer – that are less than their reasonable estimate of the property’s selling price.
What is Underquoting in real estate?
Underquoting is when an agent gives a buyer a property price lower than the agent’s estimated selling price in the sales agreement (the agent’s written contract with the seller).
What is a real estate price guide?
A price guide is exactly what it says it is, an estimation of price, based on recent sales of comparable properties. A practise known as ‘underquoting’ has been known to occur within the industry where real estate agents deliberately quote lower than the estimated property price in a bid to gain more interest.
What is a guide price on property?
A guide price is a marketing figure, which is used to guide potential buyers as to how much a property could be worth. They are not necessarily figures which a property will sell for, the sale price will be dependent on bidding in the auction room. Guide prices can either be a single figure price or a price range.
Can you offer more than the asking price for a house?
Offer Above-Asking If you want the house, you’re likely going to have to go above the asking price. Don’t allow the thought of offering over the asking price overwhelm you. Sometimes, you only need to offer $2,000 – $3,000 more to achieve the effect you’re going for.
