State Regulators Call Prevent NY Real Estate Brokers from Using False Titles, Roger Humphrey, Chester, NJ Professional, Comments

PHILADELPHIA, PA, May 28, 2013

For Roger Humphrey Chester NJ real estate professional, his industry is one that calls for honesty on all ends of the spectrum--especially when it comes to providing accurate information to consumers. However, according to a recent article from The Wall Street Journal, some New York real estate brokers may have been misrepresenting their level of qualification to the market. In fact, the falsification was so prevalent that it has prompted a recent decision from state regulators to prevent brokers from bearing false titles.

The Wall Street Journal reports, "Real-estate brokers in New York may need to buy new business cards in the wake of a decision by state regulators declaring that many of the business titles they've adopted aren't valid. According to a letter sent [late April] the New York's Department of State to the Real Estate Board of New York, brokers cannot use titles such as vice president or executive vice president unless they actually have been appointed or elected as an officer at those companies. Many brokers using the titles haven't received such company appointments."

Roger Humphrey, Chester, NJ resident, comments, "While it may just seem like a small detail that may go unnoticed by most of the consumer public, it is an important decision; it protects the hard work of those who have actually earned those titles, and it protects consumers from investing trust in a falsified professional." In the article, one brokerage-firm spokesman explains, "A title to a broker is very important...Even though they're not voting titles, it designates a sort of level of achievement. How would you present yourself in the industry without a title? People would be very upset."

The Wall Street Journal cites, Neil Garfinkel who serves the state board's legal counsel and reveals, "there are three licenses a broker can have; real-estate broker, associate real-estate broker and licensed salesperson, and that the state can revoke or suspend the license or fine brokers who use titles illegally." In regards to the use of "dishonest" and "misleading" titles some brokers may have used, Garfinkel adds, "It is an opinion that affects the industry in a widespread way...I'd say there are many, many brokers this affects...I think there are some agents who are going to be upset but, at the end of the day, the law is the law." Roger Humphrey, Chester, NJ, professional who works in commercial real estate and facilities management explains that while it may be a harsh adjustment, it may reinforce a stronger, more honest industry.

"I am proud that people in the real estate industry are staying on top of these smaller details in an attempt to create a more trustworthy business. While some may have to reevaluate their titles, those who have worked to earn their distinctions can feel proud of their achievements. Those who have yet to earn these titles, will also feel motivated to achieve them in the future," Roger Humphrey, Chester, NJ resident concludes.

ABOUT:

Roger Humphrey Chester NJ professional, carries more than two decades' worth of experience in the corporate real estate and facilities management business. With a solid and comprehensive skill set Humphrey has earned recognition as a leader among several notable companies.