An Overview of Federal Real Estate Regulations: When to Prospect

by Isaac Benmergui, Esq on April 9, 2014

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Here, we get to a very relevant series of pieces discussing some of the facets of real estate law that are absolutely crucial to understand. Federal regulations. Specifically, these directly influence real estate law. Some might surprise you, others might make you say “yep,” but most definitely all of them are essential, especially when it involves your rights as an American. Starting with….national_do_not_call_registry

Prospecting. People calling you for purposes of marketing and advertising – and maybe even selling. We all get annoyed with it, we want to hang up the phone. Unfortunately, they keep calling and calling. That’s why there’s such a thing as the “National Do Not Call Registry,” fostered by the statute often called the “Do-Not-Call law” where it’s actually illegal for any party to call you, in this case involving real estate, for any purpose regarding the sale or potential sale of a home. This also includes faxing and e-mailing. Absolutely no one can do it unsolicited. It’s against the law.

Understand, though, that businesses can pick up the phone and call you if they like. You, however, have to give them permission to do it. Additionally, the law allows a business to make an initial approved call to a customer, and let’s say the customer buys; legally the business can then call that same customer unsolicited for a period of 18 months if necessary. Also a business is allowed to basically “follow up” on a customer inquiring about their services. For instance: if you were interested in a particular home and called a real estate agent, that agent could then potentially and legally call you back several times for at least three months to see if you’re still interested.

This is especially important when it comes to real estate law for one reason: landlords and their tenants. Understand, too, that the consequence for violation of the law pertaining to the Do Not Call Registry is a hefty $11K in fines, plus $500 per call. Be sure, if you’re a landlord, or agent, or broker or any other real estate professional – hesitate to pick up the phone and call unless you already have prior approval.

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