Key Takeaways
- Marketing language matters legally—"properties for sale" versus "contract assignments" can determine regulatory treatment.
- Immediate engagement of a regulatory attorney ($12K) protected against potential business closure and criminal charges.
- Cooperative posture with regulators plus voluntary compliance improvements produced the best possible outcome.
- Obtaining a real estate license (even when not required) provides an additional layer of protection against regulatory challenge.
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Test Your Knowledge
1.In the regulatory challenge case study, what was the firm's most effective response?
2.What is the most important lesson from the regulatory challenge case study?
3.What pre-emptive action should all wholesaling firms take regarding regulatory risk?