Ethics Question for Realtors!

Sam Dodd · #**1 Ethics Question for Realtors!** 08-11-2007, 04:33 PM

Senerio - Not Real Life I was Just Thinking about it today.

Buyer wants to buy way more house then they can afford with a neg am loan. Do we as Realtors

A. Let them our check is higher
B. Educate
C. Let Another Realtor Sell Them the Home.

jasoncrouch · 08-11-2007, 04:52 PM

I would try to educate them, and if they still insisted, I would probably sell them the home (assuming they really understood the risks).

Malok · 08-12-2007, 07:44 AM

Educate - in extreme detail.

If they are still determined, represent them as best you can for the remainder of the transaction.

AndrewRE · 08-12-2007, 10:55 AM

I would educate them about the current foreclosure rates and give them some guidance

Dan Connolly · 08-12-2007, 12:24 PM

Educate, disclose, and if they wanted to proceed I would write it up!

ericbramlett · 08-12-2007, 02:07 PM

I'm with everyone here. Educate & sell whatever they choose.

Irene Ward · 08-12-2007, 02:25 PM

Educate, educate, educate. In the end, if the person is of sound mind and a consenting adult, then they will have to face the consequences. An addendum articulating that they were educated on the financing options they chose and "were fully aware of the inherent risks" wouldn't hurt either! At least then I wouldn't have to lose sleep over it.

jasoncrouch · 08-12-2007, 04:03 PM

I suppose my theory is that once they are educated on what the risks are, there is no reason to let someone else make the commission. If you are providing the service/education to the client, you deserve the check at the end of the transaction!

Fort Lauderdale · 08-12-2007, 04:35 PM

For once, I totally agree with all the responses! I too would have a document signed that they understand the risks. It always comes back to the Realtor.