Does Real Estate Need an Ethical Ass-Whipping Every Now & Then?
You’ve seen the short line at the Target. You avoid it, because surely there must be something wrong with it – like the lady who wants to pay with a check? (Who the fetch uses checks anymore?). Then unlike the rest of the suckers in the long line, you realize there ain’t a damn thing wrong with the short line. But when it comes to real estate ethics
, should you
get in the short line, or take the long road to success?
I’m bypassing the short line and taking the long, high road here by saying that most of us get into the real estate biz with the best of intentions. All fresh and green, like baby poop, we strive to play by the rules, but saying “no” to all the short cuts that tempt and tantalize us like Oprah saying “no” to cake. It’s just not in the cards. Mama like her cake!
ETHICAL REAL ESTATE INVESTING
Let’s look at just one example. There are a TON of Guru’s out there who sell short sale products, short sale courses, short sale systems, and yes, even short sale schemes. Most could care less about your success because once they have your $1497.00 dollars and $37.00 a month fee, they really don’t care if you’re using the product, or even if the product breaks laws in your jurisdiction. I know for a fact that most short sale Guru’s would be in jail if they practiced their craft in Maryland – because Maryland has one of the strictest, most unforgiving foreclosure laws in the country in terms of how we investors can deal with homeowners who are late on their mortgage.
As the banks were writing mortgages at a break neck pace, someone whould have stood up with a huge flare gun and said, “WAIT! This is too much…” Who was watching them? Supposedly organizations like….Congress, Fannie and Freddie, and yes even the The National Association of Realtors (NAR). To me, that’s like having a room full of cops watching the Dunkin’ Donuts!
WHAT IS YOUR CODE OF ETHICS?
Who will keep you straight? Maybe you “forget” to disclose and get away with it. Maybe you “dick-over” a solid, well-established cash investor on a wholesale deal only make a few extra bucks. Maybe you make a quick payday, when you know the payday was meant for someone else. So keep comin’ back for more like Rihanna (oh no I diiiin’t!). Makin’ fast money may feel good at first, but when you catch another Chris Brown right to your eye, you’ll be out of a job and worse yet, you could end up in prison. And when you finally stop waking up in the night screaming “No Big-Ray, Please don’t make me your bitch again!”, the cashier gig at In and Out Burger is gonna be an even tougher pill to swallow.
So what’s the moral of the story, kids? Say via con dios to instant gratification, and ride the ever-sweet, sometimes boring, long road to success. A solid reputation and a network of clients, and the respect of other like-minded investors who trust and recommend you is what will make you profitable in the end. Your conscience and your ass will thank you.