Question

A broker advertised in his local newspaper that a home was for sale for $50,000 when it was really for sale for $500,000. A buyer called in and was told that this was simply a typing error and that the correct price was $500,000. The buyer was angry that the associate was so arrogant on the phone and the buyer filed a written complaint with the FREC. The most serious determination by the FREC would be to:

Answer 1

Answer: Punish the broker with an administrative fee of $1000 up to a one-year suspension

Explanation: In situations such as described in the question, the most serious determination by the Florida Real Estate Commission (FREC) in response to a complaint by a buyer who filed a written complaint concerning the arrogance of the associate would be to punish the broker with an administrative fee of $1000 up to a one-year suspension.