isn't there a DOJ title lawsuit against the title company in DC and the agents who did the joint venture relationship because of RESPA? i don't why agents do this because it just gives the industry a bad reputation ven if technically it is legal and they win the DOJ lawsuit. morally it isn't a good look to recommend a service that you get a profit from especially in the home purchase industry.
I agree that you have to be careful with it. Join venture with a title company is very common practice though, agents just need to make sure they fully disclose they have ownership in the company. I've read some of these disclosures and many clearly state that the buyer is able to choose any title company they want to. Some even give other recommendations. In my experience, the buyers don't typically care either way.
@@next-genagents7731 why don’t they care? Because they have no clue and they rely on the fiduciary to give them the most unbiased advice. Not only is that advice not unbiased, it also is a profit center for the agent. Why take the risk? As mentioned, there is a DOJ case in DC against the JV title scheme. Overall, it just gives agents a bad look, if not worse.
This is so good! Thank you Malcolm!
whata are downsides of the real private label for independents joining?
No real downside, you still have access to all of REALs benefits if you choose to go that rout.
isn't there a DOJ title lawsuit against the title company in DC and the agents who did the joint venture relationship because of RESPA? i don't why agents do this because it just gives the industry a bad reputation ven if technically it is legal and they win the DOJ lawsuit. morally it isn't a good look to recommend a service that you get a profit from especially in the home purchase industry.
I agree that you have to be careful with it. Join venture with a title company is very common practice though, agents just need to make sure they fully disclose they have ownership in the company. I've read some of these disclosures and many clearly state that the buyer is able to choose any title company they want to. Some even give other recommendations. In my experience, the buyers don't typically care either way.
@@next-genagents7731 why don’t they care? Because they have no clue and they rely on the fiduciary to give them the most unbiased advice. Not only is that advice not unbiased, it also is a profit center for the agent. Why take the risk? As mentioned, there is a DOJ case in DC against the JV title scheme. Overall, it just gives agents a bad look, if not worse.