Posted by Houserookie on July 17, 2003 at 23:29:50:
Ron,
I’m not an attorney but isn’t it true that the Federal Government …ie…FTC…regulates interstate commerce while State Government …ie…Atty General Office… regulates intrastate.
Perhaps it’s just a casual misunderstanding?
Cheerz,
Charges: Do not call list cost violator $24,000 - Posted by Houserookie
Posted by Houserookie on July 17, 2003 at 10:15:52:
For those of you still considering cold calling read this article.
If you’re planning to use cold calling to do RE investing you might need a little more than cashflow and appreciation. Add a reserve just in case the attorny general files suit.
Cheerz,
The Sky is Falling! - Posted by Ron (MD)
Posted by Ron (MD) on July 17, 2003 at 13:11:47:
Houserookie,
My understanding of the Do Not Call law is that it relates to interstate phone calls offering to sell goods or services.
Since most REI’s are calling intrastate with an offer to buy a house, it seems doubtful that we would be affected by the law.
Do you KNOW something different that would indicate otherwise? If so, how about a real reference?
Thx.
Ron Guy
Re: The Sky is Falling! - Posted by Bryan-SactoCA
Posted by Bryan-SactoCA on July 18, 2003 at 14:20:22:
If you’re calling in response to a FSBO ad in the paper I doubt that the Do Not Call laws would apply since the owner can be considered to have initiated contact offers with the ad. If you’re calling preforeclosures you might be able to send a letter and then call saying “This is Joe Blow, did you recieve my letter?”
Re: The Sky is Falling! - Posted by Houserookie
Posted by Houserookie on July 17, 2003 at 21:19:14:
Ron,
My understanding is that the Federal DO NOT CALL list
covers interstate solicitation.
State DO NOT CALL list covers intrastate.
I suppose if you call to make offers on homes you might be able to argue some gray areas.
If you call to make offers and describe a “program” that you have to help sellers in tough situations then that sounds like a business selling a product or service. No?
Here’s real estate reference. There’s been alot of discussions and articles on this topic at inman.com and realtor.org.
Might be worth a little investment if you cold call.
Cheerz,
Re: The Sky is Falling! - Posted by IB (NJ)
Posted by IB (NJ) on July 17, 2003 at 16:03:32:
Hi Ron. I thought the same thing but other Investors told me I was wrong (in another thread). I haven’t had a chance to actually read the law on this so maybe it’s time that I do. I’ll let you know if I come up with anything.
Re: The Sky is Falling! - Posted by Ron (MD)
Posted by Ron (MD) on July 17, 2003 at 18:57:57:
Hi IB,
I haven’t found any absolute reference, but at:
http://www.ftc.gov/bcp/conline/pubs/tmarkg/donotcall.htm
I read the following:
"Telemarketers must promptly tell you the identity of the seller or charitable organization and - before they make their pitch - that the call is a sales call or a charitable solicitation.
Telemarketers must disclose all material information about the goods or services they are offering and the terms of the sale. They are prohibited from lying about any terms of their offer."
They seem to consider telemarketing to be offers to sell good or services or solicitations for charitable contributions. I just don’t see how calling to propose purchasing your house is telemarketing.
I didn’t find any reference to it covering only interstate calls…maybe just someone’s casual speculation.
Ron Guy