Friday, August 19, 2011

R/E Brokers Lose Licenses Over Allegations Of Encouraging Clients To Stiff Lenders Out Of House Payments, Listing Homes At Artificially Low Prices

In Pierce County, Washington, Real Estate Today reports:

  • A well-known Pierce County husband and wife team specializing in short sales has been barred from practicing real estate for 10 years by the Washington Department of Licensing (DOL) for multiple violations of the state's licensing code.

  • Bonny Lake broker Michael Hellickson, his wife Tara Hellickson, also a broker, and their brokerage, Inc., were scrutinized after the state received more than two dozen complaints about their practices. Their licenses were suspended in September 2010, then reinstated in October pending a hearing.


  • Among the charges brought against the Hellicksons were listing homes at artificially reduced prices; misrepresenting and advertising that the Hellicksons were the No. 1 agent in Washington, Oregon and Hawaii and would purchase a home listed with them if it had not sold in 30 days, and encouraging clients to stop making payments on their home loans.

For more, see State yanks license of 'Northwest's No.1 real estate agent'.

No comments: