Breakdown of key points:
- The Federal Trade Commission (FTC) has taken matters into its own hands with the real estate group, Ganadores Real Estate.
- Apparently, Ganadores Real Estate was a little too generous with their predictions, promising students of their real estate coaching program a six-figure income. If only it were that easy!
- The real kicker? This “get rich quicker than a sneeze” program had a whopping price tag of $28,000 per person. Now, that’s a lot of dough for a jetpack that doesn’t fly.
- Unfortunately, the skyrocketing income never quite materialized for most of the students, leading to the FTC stepping in.
- The FTC went all Jedi: “Refunds, you must issue!” on Ganadores Real Estate. They ordered them to refund wannabe moguls who had forked over their hard-earned $28,000 for the program.
Hot Take:
In reality, this whole false promise extravaganza is like buying a toy hammer and expecting it to build a house. I mean, I get it. We all want shortcuts to the end of the rainbow, but remember DIY home renovation shows? We all know how most of those turn out: a hot mess of mismatched tiles and patchy paint jobs.
If there’s one thing to take from this, it’s that the real estate business — like any other craft — cannot be mastered overnight. It needs time, experience, and a lot more than a hefty $28,000 coaching program promising the moon; you can’t take it down with a slingshot, mate.
The real estate realm might not be the Wild West, but with mavericks like Ganadores Real Estate spurting out mountains of gold out of molehills, it’s no wonder FTC sheriffs had to ride in and set things straight. Let this serve as a reminder to all: if something sounds too good to be true, then it probably is. So, hold on to those gold nuggets (or $28,000), folks – and invest them wisely!
Original article: https://www.inman.com/2024/01/18/real-estate-coach-who-preyed-on-spanish-speakers-banned-by-ftc/
