State of Missouri Audit Coming Our Way: Everybody Panic!

tony_soprano-girl1So the State of Missouri has told our broker that an audit is coming our way within the next 30 days and the admin people of our office are freaking out.  Never mind that we have a paper policewoman who won’t let us have our checks until all the boxes are checked and signatures initialed and asses are kissed.  (Sorry, this whole thing pisses me off.)

My feelings are this on audits;

  1. They are good in that the fear of an audit makes brokers hire people to make sure everything is done by the book.
  2. They are bad in that the auditor comes in and will not leave until they find something, no matter how innocuous or ridiculous, in which they can draw a fine from.
  3. Missing a check box or not filling in a warranty line is hardly the same as “fraud.”  But by God, they will fine you and the broker $150 each if you miss it.
  4. What they are really looking for, and let’s call this out, are Kansas agents selling Missouri homes and not paying Missouri state taxes.

I try to operate my business with the utmost integrity.  I fight for the benefit of my clients.  But if I miss a box I’m more likely to be fined than if I help commit the fraud that has been so rampant. 

Oh, well.  Like the neighborhood merchants who have to pay tribute to the mob it’s just the cost of doing business.  I know I’ll be a target because I sell so many properties in Missouri.  I’ll let you know how it turns out in a month or so.

5 Comments

Filed under Misc. Real Estate

5 responses to “State of Missouri Audit Coming Our Way: Everybody Panic!

  1. Another Investor

    Ummmmm….I can understand your feelings about auditors, but I’m, well, surprised by the picture that accompanies the post.

  2. AI- Sorry if I offended you. She has clothes on so while I thought it was borderline I didn’t see the harm.

  3. Another Investor

    You have to look awfully close to see there are clothes involved. After your post on the sample house return on investment, I was thinking about some Kansas City barbequed ribs, so I was just surprised to see these ribs instead….

    Good luck with your audit. Maybe the auditor will look like the young lady in the picture, and none of the guys in the office will get upset about a couple of silly $150 fines!

  4. The picture fits the story nicely and leaves a lasting impression. I love the way you liken the audit to paying off the mob. It’s not very far from the truth at all and it’s the same in Australia.

    I console myself in the knowledge that it’s a cost of doing business that keeps some ‘”would be” competitors either out of the game or extra busy playing it

  5. REIA – thanks for reading. The audit got moved back to May 12. I’ll keep everyone updated.

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