Mythomania: The Disease Most Unlicensed Brokers Suffer

[John Thedford]

ARV? URV? After rehab value? Unrealistic retail value?
Unlicensed brokers generally have NO fear of misrepresentation. Licensed agents get sued for value misrepresentations and is one of the top 10 reason agents get sued. I see lots of ads by these scammers claiming GREAT returns. Once investigated, it turns out most are just total BS. 

Unlicensed brokers suffer from MYTHOMANIA - a pathological inclination to exagerate. Buying from unlicensed brokers should be undertaken VERY carefully. Remember, they are NOT licensed, have no accountability, no insurance, no oversight, and often no money. Many of them try to coerce buyers into non-refundable fees. This is NOT typical in real estate and rarely if ever seen when dealing with a licensee unless they are "wholesaling".