The Creative Investor - Realtors File Complaint Against FSBO Web Site

The New Hampshire Association of Realtors has filed a complaint against ISoldMyHouse.com, asking that the for-sale-by-owner Web site be sanctioned for allegedly acting as a broker without a license.

The complaint, filed with the New Hampshire Real Estate Commission, asks that the commission require ISoldMyHouse.com to repay all fees collected from New Hampshire residents and "also sanction ISMH at a level commensurate with the scope of violations demonstrated."

ISoldMyHouse general manager John F. Gallagher on Thursday said the allegations are unfounded and not rooted in truth.

The association contends ISoldMyHouse is acting as a real estate broker, not simply an advertising service. The complaint is not an attack on a Web-based business, said attorney John Sullivan, who filed the complaint on behalf of the association. He said it's simply

an attempt to get the company to comply with the law.

the association alleges that ISoldMyHouse:

Lists nearly 800 New Hampshire properties and claims to sell hundreds of properties weekly.

Lists properties for a fee, has a tie-in to a national Multiple Listing Service for a fee and claims ownership of the listings.

Claims to supply pre-approved buyers.

Offers legal forms and advises sellers and buyers.

Charges fees, including charges to buyers agents.

That action can include suspending, revoking or denying a real estate license if the person in question holds one, imposing fines of up to $2,000 for each offense and/or issuing "cease and desist" orders. I say some folks just need to get a life!

John Michael is the author of many guides that can help you become more successful as an investor. See http://www.thecreativeinvestor.com/ChanPart-JohnMichael.html