Originally Posted by Sailormann
The broker gets a percentage of the final selling price - around here the standard is 10%. It is unconscionable that they actually earn money for the stunts they pull on innocent, unsuspecting newbies, and they are not shy about trying it on folks who have been around the block a time or two either.
Don't ever believe what a broker tells you until you have verified it yourself. Don't ever agree to anything verbally - have a written letter or an email covering every single detail - keep in mind that the bulk of them were fired from used car dealerships because of unethical behaviour...
Never, Never, Never use a surveyor that the broker "recommends".
Am I sounding a tad bitter here ???
there are bad apples i every industry. I have been licensed as a securiteis dealer for over 15 years, as a trader and dealing with the public as an advisor and have never been fined/sanctioned etc in any way during that time. While I helped people pay for kids college, retire early etc there were bad apples there too. Moving to brokering a different class of assest, I certainly feel that I am not coming from your 'usedsalescarguy' generalized depiction. I hold myself and my actions to the highest ethical standards, both professioally and personally.
I am sorry, as it appears you had a bad experience, but we dont crucify the whole of any
industry due to some bad apples.