Seek help from a reliable mortgage broker, they will  show you how to clean up your credit for free !!

A side job/scam, hopefully not part of his brokerage.

Never heard of this before

I have not seen these promotions.

I would steer clear!

You should consult with your local real estate commission and attorney. 

Personally, I'd stay away from services such as this. Are they just a FL organization?

Sounds like a rip off scheme. Most people can repair their credit on their own. It just takes time.

I've never heard of this so it's hard for me to say if it's legal.  I would stay away from most credit repair programs.

If you have to ask that question, then it probably isn't. If they are actually providing a service and doing a service then its probably legal-but legal isn't always ethical. What does your gut say?

Chris,

We would not do that.

I don't know about either the legality or if it is an ethical ad but, I surely hope that people don't fall for it! It's a free service offered by lenders.

I would consult the Florida REC to see if it is legal and ethical. Definitely let us know what you find out, Chris!

I'm pretty sure that's illegal in California.

I'm not a lender so I always refer those to my lenders.  They don't charge a fee. 

I do not know.  That is not anything I would be involved with. 

Interesting idea, coming from a Realtor. Why pay for something that any good LO will do for FREE? Personal consultant, reviews weekly, get your credit report from your mortgage guy, please stop, I'm laughing so much it hurts

Advance fee activity has to be approved by the BRE as a rule. Agents would do well to tread lightly and walk softly on coming close to ethical regulations

If you agree to it, they can charge you whatever they want.  But I woudn't, if I were you.

Endorsing a service that can readily be accomplished for free with a little guidance is not for me. I do not see this happening in our area. 

Wow! Run people run!

It doesn't seem right to me and think about it, you have credit issues and your real estate company wants to charge you $500 upfront? Isn't that a part of the reason you are in trouble?

I have no idea regarding the legality but I do know that I don't enjoy working with clients that have credit issues.

Chris, looks like SmartKeyProperties is out of business?  Website not valid.  The best credit repair is a mortgage broker who has a vested interest in helping buyer repair their credit.  They may get the loan if they enable buyer to do what's necessary to qualify.  Unfortunately potential buyers get talked into credit repair companies that charge a monthly fee but do little to nothing except keep that monthly fee coming in.  Stick to the lenders who know what it takes to qualify!

I do not think so - just my opinion.

I've seen brokerages that have all sorts of affilate marketing businesses.

Seems it is not really typical for FL, and would be very unusual for CA , since we can refer to someone who can help to with credit issues but we can not do both.

As I am not an attorney, I do not know if it's illegal, but as a Mortgage Banker with 48 years in the business, I would think it is highly unethical to collect any fee, for that purpose. I could make millions by doing this. I even helped a friend start his own credit reporting company, and I still would not do this. To me a real Professional in our Industry only cheapens themselves by doing this junk! Also, I am so happy to see that the over whelming majority of my fellow Active Rainer's feel the same as I. It's is so good to see.

We do have a place in our Buyer Agency for hourly fees, but would never do this.   I would refer to a credit repair company.

Never heard of that before

OK everyone...take a deep breath.

I read it...it also includes "mortgage professionals".  So can they charge for helping someone clean up their credit?  Sure, why not?

Can they then refer them to a real estate agent who is chomping at the bit to turn a deal who promises them a $$$ rebate at closing?  Yes, they can.

UNFORTUNATELY...commission rebates are legal in Florida.  UGH...

Eve

Not legal here.

I'm on Cocoa Beach, about 70 miles from Altamonte Springs, and have never heard of them so did a quick google search and it appears to be a new company.

I took a cursory look at their website and it looks like they have two other companies...one for real estate and one for credit. If you haven't already read the FAQs, take a minute to do so, very enlightening. According to google they also have a FB page but I don't have time to stay with this.

Based upon what I saw so far, it does not appear they can do anything you can't do yourself at no charge.

Some people need credit repair services and I have always heard these services are costly. Many lenders will give similar advice for free to help someone get their finances in order to buy a home.

  What do we get for that $500?  What credentials, license, or experience do you have (Smart Key Properties)?  Are you practicing law without a license?  How will this help me buy a house?

good question

Does not sound legal for real estate people to do that.

I don't think it's legal for a Realtor.  Not sure about others.

Chris Locke Brokers can charge an upfront retainer fee so this could be legal. Having said that, I believe anyone who charges an upfront fee for this type of service should be avoided.

In what could be a poor choice and waste of money becuase a buyer can do all these things for free to improve their own credit

I have not heard of anyone doing it.

Parked and reading...

Noting to do about nothing.

Smartkey is not a real estate brokerage but clearly IS a referral service, perhaps favoring subscribers just like ZILLOW. (according to the link provided)

They offer to apply the $500 fee to closing just like Redfin. (according to the link provided)

The have a minimal purchase just like Redfin. (according to the link provided)

Agents do pay more than $500 for referrals to other agents. That is unethical in my humble opinion.