Thread regarding Wells Fargo & Co. layoffs

Being and employee and a Relator at the same time

I’ve been Wells Fargo going on 19 years… With all the chaos going on the last couple years I decided to get my real estate license more as a back up. I’ve yet to use it despite several opportunities because I know it’s against the COE unless you’re using it for personal primary home use.

I know at least a handful of people at the bank who regularly use their real estate license, curious if anybody here has or know anyone who does the same thing.

What is the likelihood of getting caught, which I know is just a guess… Just curious how they would find out other than truly going to the real estate board or if you told somebody else or were advertising on your Facebook page.

Believe me I’m not using this page as a guideline to risk my career, just curious with other people’s experiences

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Post ID: @OP+1eTj6gfw

21 replies (most recent on top)

I’d recommend just passing anyone off to a non wells realtor and just get a referral fee

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Post ID: @4avs+1eTj6gfw

I dunno why you all talking about real estate when the OP is asking about being a relator. I personally relate with many walks of life and it has helped my career.

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Post ID: @1slv+1eTj6gfw

Better be good at it so you can fall back on it…. for those that said terminated immediately unless pre-cleared they are spot on. (No package, etc) and from a manager perspective dealing with HR… was easiest separation ever and full support

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Post ID: @1see+1eTj6gfw

The COE policy explicitly says you cannot be a broker or real estate agent except for your own primary residence or 2nd home.

So if you're intent is to buy 2nd home and flip it, that's probably ok.

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Post ID: @1pum+1eTj6gfw

it's incredibly easy to get this pre-cleared. why bother hiding it? just do it the legit way like everyone else does.

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Post ID: @1dmb+1eTj6gfw

what everyone else says - if you're actively using it and don't pre-clear, then you are in danger of being terminated with no severance. technically, with a code of conduct violation, i think they could also claw back your bonuses and any stock you may have received. again, haven't remembered through the years that ever happening but it technically could, depending on how egregious it is. e.g. if you purchased a foreclosed home that wells fargo was the bank, big time problem. if you brokered a sale which wells fargo was the chosen bank for mortgage (or even not chosen, due to appearance of bias), potentially big time problem.

i also agree with others that if you're not preclearing, you're not being ethical, yourself. clear in the code of conduct. you may not agree with what is written in code of conduct and think its wrong, but it is what you have signed up for. don't like it, don't work for a bank.

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Post ID: @1blw+1eTj6gfw

This used to be fairly easy exception to get. There are relatively few positions/situations where any real conflict exists if it's nothing but a hobby job. However, if you are working in real estate as a full or part-time job or you work with real estate as part of your duties at WF this is an ethical issue beyond the rules.

I believe the bank stance has switched to no exceptions here, but if you are just acting as a Buyer's agent on a couple personal or family transactions a year I see no ethical issues but you still could be terminated if WF finds out. I think the bank had overreached too far into employees' personal life...I mean if you sell a couple things on Etsy/Ebay to pay the bills is it really WF's business?

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Post ID: @1ewo+1eTj6gfw

Have your spouse be the "realtor".

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Post ID: @1tze+1eTj6gfw

I would suggest a course in basic grammar and spelling before you do any business.

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Post ID: @1dbo+1eTj6gfw

The part that’s going to suck is being forced back into the office eventually. No longer can we ‘work from home’ and go the Keller Williams events. Now we’ll have to use our PTO for it, or possibly miss them. :/

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Post ID: @1bhd+1eTj6gfw

The fact that you asked the question with the intent of "getting away with it " tells me your ethics are questionable and you don't belong here.

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Post ID: @1pjf+1eTj6gfw

So i should probably change my linked in profile and remove where i say i’m a realtor from 2016 - present?

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Post ID: @1uix+1eTj6gfw

Do you really need WF paycheck. Because if fired for good cause, like moonlighting via competitive ventures such as real estate, no unemployment can be the case, as in zero dollars! Makes the job hunter desperate to accept any offer (Yes, that one with the pissy boss and the pissy coworkers who also want out). So you'll take anything at that point.

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Post ID: @1wly+1eTj6gfw

This is unethical. You can only use your license for buying and selling YOUR real estate holdings. Primary/Secondary home and investment properties - no other.
Do so at your peril.

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Post ID: @1kem+1eTj6gfw

I am not going to defend Wells Fargo but what you are inquiring about is wrong. You know it. We all blame the company for being unethical, out to sc--w us, etc. but if team members are knowingly violating the code of ethics (and you can’t blame WF), you deserve to be fired.

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Post ID: @1jvt+1eTj6gfw

You will get caught when someone calls the ethics line and reports the activity. The bank will pull you preclearance, social media, emails and license information. This is conflict of interest and yes, they will terminate you. Think about it and decide what you want to do.

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Post ID: @yog+1eTj6gfw

I suggest you discuss with HR. It may not be against the COE as long as you are doing it on your own time and it does not conflict with Wells Fargo business.

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Post ID: @fwv+1eTj6gfw

You'd get fired and not receive any severance. Feel free to take the risk. It's easy for the firm to pull up licenses. Maybe that's their next target for attrition.

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Post ID: @yqq+1eTj6gfw

I know it’s the same thing as far as policy wise not apples to apples but even running a fancy football pool in the office is against code of ethics or overly pushing any sort of politics, but it’s kind of a crapshoot either way

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Post ID: @ogm+1eTj6gfw

I work in the mortgage dept. When I worked in the office there was an employee with her realtor business info plastered all over her car (same car she parked at the office every day). To my knowledge she never got reprimanded for it.

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Post ID: @jbq+1eTj6gfw

All I know is that if they find out, you will be fired on the spot. Hope that helps a bit with the decision.

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Post ID: @wyg+1eTj6gfw

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