by David Chapman
Staff Writer
While most members of the local real estate community follow the rules of their craft to the letter, sometimes even the best might make a costly mistake during the process. During their final quarterly themed meeting of the year, members of the Ponte Vedra Council — one of the geographic groups of the Northeast Florida Association of Realtors — heard from two investigators from the Florida Department of Business & Professional Regulation pointers on how to avoid such mishaps.
James Pierce — a Jacksonville native, longtime real estate agent and 1993 Realtor Associate of the Year — and Robert Krantz, both investigation specialists with the department, met with close to 100 members of the real estate community to explain their jobs as it applies to the real estate industry and what they see as common mistakes.
“Realtors, I applaud you,” began Pierce. “You increase the economic state of the local economy ... I’ve known a lot of you people for a long time and I know what you go through.”
In his regulatory role, Pierce talked of his position as both an educator in teaching individuals who have problems of a better way to do business and an eliminator charged with stopping people in the business who maliciously harm the public through illegal practices.
“We’ll try to educate,” said Pierce, “and if not, you’ve got to go.”
Krantz, whose past roles included investigations into criminal defense, tax fraud and arson, told the group the department is actually there to help realtors alleviate their problems including eliminating unlicensed real estate agents who take business and can give the profession a bad name.
Pierce then discussed, in detail, the deadly sins of real estate — greed, control, sex and drugs, emotions and ignorance — that he sees affect agents in the way they do business, often leading to trouble.
Mishaps in paperwork are also a common problem, both investigators said, even to the most honest of real estate brokers — especially what paperwork to keep on file, who’s in charge of it all and maintaining up-to-date education on new statutes and forms.
“I’m often asked ‘What should I have on file?’,” said Pierce. “The answer is everything. You need to have all your contracts, not just the final one ... the contract is your life’s blood.”
Krantz added it’s still the broker’s responsibility for contracts, even if they go to the title company and money is exchanged. Excuses like blaming bookkeepers, losing materials or not knowing the rules won’t fly, as he again stressed the educational aspect of the real estate professional’s job.
While headlines might shed light on issues like mortgages fraud, Pierce said that since he took the role in 1997, he would say around 95 percent of the real estate business is honest.
As for the ones who are honest but simply make a mistake? Well, their advice and discussion to the group was part of the reason Ponte Vedra Council Chair Terrell Newberry thought the group’s members should join in the discussion.
“They’re the guys who are trying to keep us out of trouble,” said Newberry. “I thought it was excellent and informative for us to hear.”
Pierce said the setting — in front of more than 100 real estate community members at The Plantation at Ponte Vedra during a holiday celebration — was a little different from his norm.
“I’m used to more of a classroom setting,” he said, “but this went well.”
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