Statistics show that only 1 in 4 real estate transactions make it to the closing table. After conquering all of your hurdles, resolving contingencies and conflicts during the process, not to mention the months of time courting your client---the last thing you should be worried about is having your Broker Not Pay Your Commission!
HIR Orlando is no longer offering the LOI signed by the broker to be paid at the title company closing for a $200 fee.
With months of not paying agents their due commissions, HIR Orlando is now expecting you to trust them. You are supposed to have the title company WIRE them the funds at closing and HIR "promises" to wire your share of the commission the following day.
HAS ANY FORMER HIR AGENT WHO LEFT THE COMPANY BEEN PAID THEIR DUE COMMISSION ON ANY OUTSTANDING DEALS---AFTER LEAVING?? PLEASE SHARE......
Thursday, August 16, 2007
O.R.R.A.--FILE A COMPLAINT
I was told by an attorney to file a complaint against Home Investment Realty (Orlando) regarding the misconduct of the firm.
As Realtors--we are all held to a "Code of Ethics" which is clearly outlined for us. However, where is the Code of Ethics for the agent/broker relationship? Ive read all through the code of ethics on ORRA and nothing seems to imply direclty to the agent/broker relationship.
Where are those duties outlined? Strictly in the policy manual given by the Broker who is mistreating you?
Here is the information, the link is not clickable so copy and paste it into your browser:
http://www.orlrealtor.com/Main/Main.asp?CategoryID=8&SubCategoryID=96&
As Realtors--we are all held to a "Code of Ethics" which is clearly outlined for us. However, where is the Code of Ethics for the agent/broker relationship? Ive read all through the code of ethics on ORRA and nothing seems to imply direclty to the agent/broker relationship.
Where are those duties outlined? Strictly in the policy manual given by the Broker who is mistreating you?
Here is the information, the link is not clickable so copy and paste it into your browser:
http://www.orlrealtor.com/Main/Main.asp?CategoryID=8&SubCategoryID=96&
Home Investment Realty Orlando--FRAUDS!!
We'll---Ive learned the saying "You Get What You Pay For" in the worst way! I joined the HIR team in March of 2007. As most realtors know and can relate to; we run our own business. We pay out of pocket all of our expenses, generate all of our leads and pay for advertising--etc.... Therefore, the flat fee transaction broker model that Home Investment Realty offered at the time was very appealing. Most Real Estate brokerage firms dont provide many services---so why not keep 95% of your commission?
I went to HIR as a referral from a friend who had been with HIR for a year. There were office facilities to be used and a receptionist that answered the phone. My friend told me that the support wasnt anything spectacular and did require alittle extra follow up but is was worth the trade off of receiving the full commission. Just paying a transaction fee & admin fee off approx $500.00 total. I took a small leap of faith and joined HIR in Casselberry, FL located at 950 S. Winter Park Drive Suite 100. Little did I know that I was joining HIR right at the downfall--with the floor being yanked out from under me.
1st warning sign: I submitted all of my paperwork to transfer a listing to HIR within the first week (It took over a month for the bafoons at HIR to transfer it!)
2nd warning sign: You were never allowed to speak wth a broker or anyone with authority for that matter. I left several messages for Matos Jr., Mr. Cancel, Lissett---all the people in charge, with never one phone call returned. How can this be allowed when operating a real estate brokerage firm?
3rd warning sign: All agents were restricted from entering listings into MLS. HIR would actually make you pay $50.00 to enter your listing into MLS for you. To boot--the HIR admin bafoon entering the listing information into MLS would make typos and take over a week to get it in the system.
One month into my constant battle with HIR staff, just trying to do my job as a Realtor......we get a company wide announcement stating that Keller Williams has bought the building in Casselberry and that HIR is being kicked out! Of course in a more polite manner. Wow---very surprising since commercial deals typically take at least 6 months on average to close.
I had just joined the Casselberry office, ordered business cards, had been getting situated and the office was now CLOSING? In only one month of time. What are the chances that HIR knew about this office closing---but yet neglected to tell any new hires about this before making their move????? This was obviously known and in the works for awhile, yet this information was withheld on purpose. Tell me why as Realtors we are held to a higher standard while the Brokers arent?
Come to find out through another party, the HIR lease in the Casselberry office didnt end until November and they were never told to leave the facilities. This had just been an excuse for HIR to make a quick get away.
This was a deal breaker for me. I needed an office close by my home to do business and quickly found another broker to hang my hat. During my 2 month span with HIR, I had one contract written that has yet to close. Unfortunately at this point, if it does close its only going into the pocket of Luis Cancel.
My friend who referred me to HIR (yes we are still friends NO BLAME) took HIR to small claims over a commission. She was awarded a judgment with HIR to start making monthly payments. Guess what---she never received her first payment.
I called the FAR Legal Hotline, and all they could tell me was to get a lawyer. For what? So I could end up like my friend. Spend more money to get nothing? HIR IS IN THE WORKS OF FILING BANKRUPTCY---If you contact them directly, they will tell you this isnt true but just wait and see.
The broker that started this firm, hired all of his family (PAID HIS FAMILY VERY WELL) and now he is stiffing all of the agents of their own money---WITH NO REMORSE! He is lying to your face with IOU notes that wont hold up in court. He will be going through BANKRUPTCY and wipe his slate clean while us agents are out of THOUSANDS of dollars in a very slow market.
HIR NEEDS TO BE EXPOSED AND HELD ACCOUNTABLE!
PLEASE SHARE YOUR STORY, PROGRESS, FEEDBACK OR ANY SUGGESTIONS ON GETTING JUSTICE!
I went to HIR as a referral from a friend who had been with HIR for a year. There were office facilities to be used and a receptionist that answered the phone. My friend told me that the support wasnt anything spectacular and did require alittle extra follow up but is was worth the trade off of receiving the full commission. Just paying a transaction fee & admin fee off approx $500.00 total. I took a small leap of faith and joined HIR in Casselberry, FL located at 950 S. Winter Park Drive Suite 100. Little did I know that I was joining HIR right at the downfall--with the floor being yanked out from under me.
1st warning sign: I submitted all of my paperwork to transfer a listing to HIR within the first week (It took over a month for the bafoons at HIR to transfer it!)
2nd warning sign: You were never allowed to speak wth a broker or anyone with authority for that matter. I left several messages for Matos Jr., Mr. Cancel, Lissett---all the people in charge, with never one phone call returned. How can this be allowed when operating a real estate brokerage firm?
3rd warning sign: All agents were restricted from entering listings into MLS. HIR would actually make you pay $50.00 to enter your listing into MLS for you. To boot--the HIR admin bafoon entering the listing information into MLS would make typos and take over a week to get it in the system.
One month into my constant battle with HIR staff, just trying to do my job as a Realtor......we get a company wide announcement stating that Keller Williams has bought the building in Casselberry and that HIR is being kicked out! Of course in a more polite manner. Wow---very surprising since commercial deals typically take at least 6 months on average to close.
I had just joined the Casselberry office, ordered business cards, had been getting situated and the office was now CLOSING? In only one month of time. What are the chances that HIR knew about this office closing---but yet neglected to tell any new hires about this before making their move????? This was obviously known and in the works for awhile, yet this information was withheld on purpose. Tell me why as Realtors we are held to a higher standard while the Brokers arent?
Come to find out through another party, the HIR lease in the Casselberry office didnt end until November and they were never told to leave the facilities. This had just been an excuse for HIR to make a quick get away.
This was a deal breaker for me. I needed an office close by my home to do business and quickly found another broker to hang my hat. During my 2 month span with HIR, I had one contract written that has yet to close. Unfortunately at this point, if it does close its only going into the pocket of Luis Cancel.
My friend who referred me to HIR (yes we are still friends NO BLAME) took HIR to small claims over a commission. She was awarded a judgment with HIR to start making monthly payments. Guess what---she never received her first payment.
I called the FAR Legal Hotline, and all they could tell me was to get a lawyer. For what? So I could end up like my friend. Spend more money to get nothing? HIR IS IN THE WORKS OF FILING BANKRUPTCY---If you contact them directly, they will tell you this isnt true but just wait and see.
The broker that started this firm, hired all of his family (PAID HIS FAMILY VERY WELL) and now he is stiffing all of the agents of their own money---WITH NO REMORSE! He is lying to your face with IOU notes that wont hold up in court. He will be going through BANKRUPTCY and wipe his slate clean while us agents are out of THOUSANDS of dollars in a very slow market.
HIR NEEDS TO BE EXPOSED AND HELD ACCOUNTABLE!
PLEASE SHARE YOUR STORY, PROGRESS, FEEDBACK OR ANY SUGGESTIONS ON GETTING JUSTICE!
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