People in the real estate business oftentimes run into legal trouble. The realtor will be sued by some disgruntled client. The realtor will sometimes find his or her real estate license might be at stake. In Florida, the situation with real estate issues may intensify. The matter might be taken to the Division of Real Estate or the Florida Real Estate Commission. If this is the case, the matter is very serious and the realtor may want to secure a real estate attorney to represent him or her. This is what the realtor should consider when a complaint has been lodged.
There are many charges which could be brought against a real estate agent or realtor. The biggest charge is usually associated with fraud. The agent could be accused of intentionally misrepresenting what is true or withholding information that is pertinent to the real estate law. Another accusation could be that the realtor is practicing real estate sales without a valid license. Other things could be improper recordkeeping, failure to follow proper procedures regarding the paperwork, the inappropriate use of escrow funds, or using the client’s funds for personal use.
The process of the complaint begins with the establishment of whether or not any real estate laws or codes have actually been violated. If such violation has been established, the real estate commission will contact the realtor in violation. This will be the time to hire an experienced real estate attorney. There could be an informal hearing, and there will also be a formal complaint. In the formal complaint, the charges will be listed against the realtor. There are three ways for the realtor to handle it.
If the hearing is an informal hearing, minor infractions can be handled there. A formal hearing will be handled in the same manner as if in a regular court. The end result of the alleged infraction by the realtor will be the Final Order. This could be a fine of $5,000 for each offense, a suspension of the real estate license for up to ten years, or even a revocation of the license. To find a real estate law firm that can help, check out Ms. Career Girl’s website for more.