You're All Against Me

In 2002 when the Beltris started their real estate company, The Bloated Ones favorite phrase was "I love to pay my agents". Legally a Real Estate Broker has 10 days after receiving a commission check to pay their agent. With the new banking regulations and checks clearing in 2 or 3 days, the 10 day law is really outdated. Some brokers routinely held paychecks til the 10th day, just because they could. The agent would work with a buyer for 2-3 months, show them 20-25 houses, negotiate a contract, wait another 45 days for a home to to close, go to the closing, give a gift to his buyer, bring the check back to his brokers office, then have to wait an additional 10 days to receive his paycheck. The cash would sit in the brokers operating account doing nothing, not even earning interest, for 5-6 extra days when an agent could be using it to pay his bills, invest it or even piss it away. Mr Beltri had the right idea, paying an agent quickly made for a happy agent, and a happy agent let other agents know how happy they were which led to office growth and more happy agents. Well let me tell you how times have changed. When agents start leaving a company in droves, there's a problem, usually a multitude of problems, but for this post I'll just mention two. The first is The Bloated One is not paying his agents for 15-20 days and beyond. I have not been with the company for 15 months and I still receive bi-weekly calls from agents who haven't been paid in 2 weeks or who want to leave the company and are seeking advice on how to accomplish their goal. Times are tough for everyone in the real estate industry these days, but holding an agents pay to cover other bills, robbing Peter to pay Paul, is just unacceptable. He's getting away with it because if an agent complains and threatens to leave, The Bloated One will not release an agents hard earned listings and will cut an agents pay in half if they have any deals that have not yet closed. So basically an agent is stuck. Now the Beltris have come up with a new trick, if an agent is lucky or plans his departure well and is not owed any money and has no current listings, he could normally offer his resignation and in a day or two pick up his license from the office and begin his next job. Now The Bloated One is telling his departing agents that he can legally hold their license for 5 days before returning it to them or sending it back to the Real Estate Commission. Mr Beltri has gone from being gung ho pro agent to an agents worst nightmare. The Beltris honestly believe that there is a conspiracy theory against them and everyone is out to get them. When the company and I parted ways I would have liked nothing better than to leave quietly, professionally and get on with my life. But he couldn't stop talking about me, making nonsense up, and hurting friends and those around me. Every BS story or word he uttered with my name attached to it got back to me almost immediately. The Beltri's lost their agents respect long before I was dismissed, my last 15 months in their employ was mostly covering for them, making excuses, and soothing hurt feelings. They have continued to hurt my former associates and friends and so I blog, exposing the bloated owners of Beltri Realtors for what they are, selfish, greedy, unfeeling ogres who are only concerned about their faux lifestyle of a big house, dinners out every night and nice cars. More to come...