First, it was a name change, and no, the former Commissioner’s Rules are still in place, although many were revised in the rules change that was first proposed toward the end of 2024, worked on all through 2025 and then published December 13, 2025.

The backstory: For most licensees, the Commissioner’s Rules (Standards) have been static for our entire career in Arizona real estate. For many reasons, the very last revision to the former Commissioner’ Rules were effective July of 2005. That’s more than 20 years since any rule was added, revised, or deleted.

To create a change to the rules that are found in the Arizona Administrative Code, it typically starts with the Real Estate Commissioner. Historically, that person came to realize that a rules and/or statute needed to added, revised or deleted. As the world changes, technology improves, society norms shift and the real estate market fluctuates, often the current rules become obsolete, or need revision because of some change.

The Commissioner’s Rules were (are) found in the Arizona Administrative Code, (A.A.C) Every regulatory agency in Arizona finds their operational rules in the A.A.C. The rules for Real Estate are found in Title 4, Chapter 28, under Professions. Thus, the full location would be, for example, R4-28-101-1350.

While rules and statutes are changed by a different process, this writing will deal with the rules only.

Soon after the 2008 Election, President Obama asked the Arizona Governor Janet Napolitano to become the Secretary of Homeland Security. In 2009, when the Governor left, based on the state succession rules, Jan Brewer became governor. She was the Secretary of State prior to her succession.

As a result of a severe statewide budget shortfall, in the summer of 2009 Governor Brewer imposed a Rules Moratorium, which prevented any regulatory agency from requesting a rules change. That was a strategic financial move that saved the state more than $9,000,000 per year, from 2009 through 2018. (Per the Arizona Secretary of State Office)

When Doug Ducey won the election in 2014, he soon indicated that the Rules Moratorium might be limited “on a case-by-case basis”.

In the summer of 2016, I was asked by Real Estate Commissioner Judy Lowe to serve on a task force to determine what rules might need to be revised. That group had its progress halted by Commissioner Lowe, due to advance word from the governor that any submission would need to be concerned an “emergency revision request”

Since none of what we were reviewing was considered an emergency, our group stopped working. As a result, the rules continued to be static.

In 2019, Governor Ducey wrote an executive order stating further relaxation of the rules moratorium. Commissioner Lowe was involved in other rules matters and budgetary issues, thus did not review the rules that could have been revised.

When Katie Hobbs became governor in January 2023, she quickly announced that the rules moratorium would be lifted. The following month, Governor Hobbs appointed Susan Nicolson as Commissioner.

In late 2023, Commissioner Nicolson started the initiative to revise major parts of the Arizona Administrative Code, specifically Chapter 28, Real Estate.

Among numerous changes, the title of the Continuing Education credit Commissioner’s Rules (or Commissioner’s Standards) was revised to

Requirements for Licensees

So yes, while the title of the category changed (along with numerous other parts of the Rules) the obligation remains the same. We are obligated to adhere to the Requirements for Licensees just as we were obligated to the Commissioner’s Rules

The dream of every licensee: a buyer who wants to purchase multiple properties, fix and flip them, have you list and sell them, and then do it all over again. While that could ratchet up your income, there are some situations you should consider.

A common scenario:

A buyer identifies 6 houses they would consider buying to fix and flip and plans to close on some of them.

That investor buyer wants to make as much profit as possible in the shortest period of time.

The typical process we go through with most buyers is as follows:

1. Identify the property and make an offer to the seller.
2. The seller agrees, and escrow is opened.
3. As part of the contract between your buyer and the seller, the seller provides the SPDS within the prescribed period of days.
4. During the inspection period, your buyer might inspect the property—either by themselves, with a friend/colleague who has expertise in residential building, or with a licensed inspector.
5. Between the SPDS and the inspection, your buyer decides to move forward and buy the property. They are satisfied with both, close the escrow, and start the process of remodeling the property to sell to a buyer. To do that, they remove counters and countertops, appliances, all the flooring, fixtures, and other parts of the property.
6. It is during that time that previous and possibly current issues are identified, such as termite tubes, mold, water intrusion, dry rot, roof problems, infestations of rats and other critters, and so on.
7. When getting ready to list the property, the seller refuses to provide a SPDS, claiming, "I know nothing about the property…"
   • You agree, list and sell the property, and cross out the SPDS on the offer.

Multiple choice: Who knows more about that property?

1. The previous seller
2. This seller (your client)
3. You
4. You, now the listing agent, and the seller

Both of you read the previous owner's SPDS, reviewed the inspection your investor buyer obtained, and through the remodel process, both of you witnessed the items in #6 above. Since the investor promised the listings to you, that client asked you for guidance on styles, colors, etc. Thus, you were at the property during the process, seeing the bones of the property that the previous seller, who lived there 12 years, never saw.

Do you know what the slab in your house looks like when the current flooring is removed? Can you see behind or underneath your kitchen cabinets? Can you determine if there is any water intrusion under the pan of your shower?

No, typically a current owner does not know about hidden problems unless those problems evidence themselves. But once that house is brought down to the bones, that is when the problems show. Thus, it is up to those people who see that to disclose what they find.

Refusing to complete the SPDS and provide it to the buyer is a failure to disclose material facts, hidden defects, and a gross misrepresentation of the condition of the property, especially when your listing claims "Totally remodeled and repaired property…" or words to that effect.

We are obligated to disclose all material and/or latent defects under:

• R4-28-1101.B (Requirements for Licensees, formerly Commissioner's Rules)
• Arizona Statute §32-2153.A.2, as well as
• The Realtor Code of Ethics, Article 2

We are often faced with a seller who wants you to keep these issues secret. As the keeper of this information, we hold a higher obligation to disclose the potential of a material fact, a latent defect, or any information that a party might use to change the terms or cancel a deal. If you agree to non-disclosure with the seller while you have considerable knowledge of material facts or latent defects, that will possibly put you and your broker in front of a judge and jury.

*Learn about the SPDS and other disclosure obligations in Desert Sage Seminars Disclosure license renewal classes.

The real estate industry in Arizona is in a bit of an uproar over the "new" requirement from ADRE that licensees must obtain a new fingerprint clearance card when they renew their license. Many have stated, "My fingerprints do not change, so why do I need a new fingerprint clearance card?"

Here is why:

The requirement for a fingerprint clearance card began in the early 1990s. At that time, license applicants went to a facility to have their fingerprints placed on a cardboard card, which they included in their application to ADRE. Assuming all other requirements were fulfilled, ADRE would approve the application. That applicant, now a licensee, would be on the street dealing with clients.

Monthly, ADRE would receive several hundred applications and fingerprint cards. ADRE would bundle the cards and send them to DPS (Department of Public Safety). Once DPS completed their research, they would report the results to ADRE. Of a bundle of 400 applicants, DPS might report that 8 people had a felony—in Arizona, out of state, or at some point in the past.

ADRE would then decide whether to ignore the felony or take action against that licensee who had been active for several months. Almost every month, ADRE would either revoke a license that was issued months earlier or impose sanctions against that licensee.

By the early 2000s, ADRE realized that every month they were approving licenses for people with significant felonies in their background.

ADRE took the position that the process needed to change: applicants should get approval of their fingerprint search BEFORE applying for a real estate license. Within a few years, the process did change.

State statute and DPS rules clearly state that fingerprint approvals are good for 6 years. As a result, once an applicant receives approval from DPS and obtains their real estate license, ADRE could require a new clearance card when the licensee renews.

Yet, until now, ADRE did not require a new clearance card. It was either a conscious decision or an oversight by the various Commissioners who preceded current Commissioner Susan Nicolson.

In 2025, ADRE received notification from DPS that some licensees had recent felony convictions yet were able to renew their license. Several included assault, child endangerment, and other felonies where someone was hurt. While rule and statute require licensees to "self-report" any felony conviction or plea bargain, it became clear that these licensees failed to do so.

While your fingerprints typically do not change, your background could change. Commissioner Nicolson realized that fingerprint clearance cards expire after 6 years. As a result, and well within her regulatory authority, she is now enforcing a statute/rule that has been in place for decades.

Beginning January 2027, ADRE will require a new fingerprint clearance card for any licensee at renewal. Licensees must repeat the process: get new fingerprints taken, submit them to DPS, and wait for DPS approval. If your license expires in the coming months and your original clearance was obtained more than 6 years ago, ADRE will renew your license for now.

If you are unsure whether your fingerprint clearance is valid, simply log in to your licensee profile at ADRE. The opening page will indicate whether ADRE has a valid clearance on file.

We recommend not waiting too long, as thousands of agents will need to complete this process. Many companies are starting to offer events where licensees can obtain their fingerprint card to submit to DPS.

DPS charges $67 to process the application, and you will need to find an entity to take your fingerprints and submit the application.

ADRE should have every tool available to deny or revoke a license for a licensee who has committed a serious crime.

THE CRIMINALS ARE HERE! (And they are calling/texting & emailing you)

When was the last time you talked to or communicated with a criminal person or enterprise?

You might answer “never” or “maybe I did, but was not aware”

That said, within every 24-hour period, most Americans are contacted by a criminal.

Huh?

Did you get a call, with no one on the other end. Or was there a delay, then a beep, and lots of talking in the background? And someone (not your best friend) asks for you and mispronounces your name(s).

That’s a criminal.

Did you get an email stating that your documents are ready and need your signature? An offer on your listing? Probably not, those are “phishing” emails, waiting for you to click on a link.

That’s a criminal.

Did you get an email from your bank telling you that you need to update your profile on their site? Of course, you bank with them, so why not click on the link?

That’s a criminal.

That email from IRS or Social Security wanting updated income information. You just submitted your tax return, or are receiving social security benefits, so you feel they are asking for additional information

That’s a criminal

I will address each issue above.

The phone call. If you have some form of SPAM filter on your phone, then you might see the notice when the phone rings “Possible SPAM”. Reject the call, it will go to voicemail. If your phone service allows you to stop calls going to your voicemail, set that up. If your voicemail answers, the criminal’s computer determines that it is a live phone number. If you answer it, same thing.

Once the call is done, and after few calls, go to your phones settings and review recent calls. Any that says SPAM or numbers you do not recognize (with no corresponding voicemail from a client) your SPAM filter should allow you to block that number. Sadly, criminals use computers to send calls from a different number each time. It is a game of whack-a-mole.

We might wish to answer the call and waste that person’s time, yet there is more than a 70% chance that you are talking to bot, or AI. You cannot offend them or anger them. It is getting more difficult these days to determine who or what you are talking to.

Are you on the Do Not Call/Text list? While it will not stop anyone from calling you (unless you block their number) it will tell legitimate businesses not to call you. Sadly, that is hit and miss, but clearly, since most legitimate businesses want to do the right thing, most of the unrecognizable calls and texts are probably from a criminal or criminal enterprise.

An individual criminal might “spoof” someone else’s phone number, thus hiding their real phone number, yet making it look like a local call in your area. What damage could that person do when they call you. Convince you to meet them at a house they saw and wanted to see it, for $1,945,000. What could possibly go wrong?

They could act as your credit card company, HOA Manager, car dealership, all claiming you have an overdue amount and will have services cut be days end if you don’t pay. Of course, they can take the payment over the phone, or have you send it via Zelle, or Apple Pay or any other means of payment.

Text messages from random companies, buyers wanting your home, offers of referrals, car detailing, free roof evaluation and so on. Yes, some of them are legitimate companies that buy lists from companies that collect your information. It is difficult to sort through the criminals and the legitimate business.

Criminal enterprises, possibly world-wide, use robo-dialers to call numbers around the world, and once someone answers, based on the language most possible in that area, they use the same tactic. That’s the one when you answer, there is a 2-3 second delay, for the call to be routed to a call center person, or bot or AI, then the beep when the call is connected.

Most phone services offer some form of call filter, and it is best to select one, (not the free one), and pay for it. Most are only a few dollars a month, yet well worth it.

Here is the link to the U.S. Federal Communications Commission site where you can sign up your phone numbers on the Do Not Call list and check if a number is on the list.

https://consumer.ftc.gov/national-do-not-call-registry-faqs

The Documents Are Ready email. Criminals know that real estate agents are always looking out for an offer on their listing, and that is why they target us. At any given time, real estate or not, out of 100 random people, at least 30 of them are working on paperwork with some entity, or joining a group, or new at a doctor’s office, all where we might anticipate the need to sign documents. Most medical portals will send you an email that documents are ready in your portal.

DO NOT click the link in the email. Open your browser and go directly to that medical portal and log in. Criminals know that as Americans age, a huge part of the population, we are accessing medical portals.

The email from your financial institution. Most national financial institutions (your bank) will NEVER email you asking you to click a link to update your information. They will wait for you to log in to their site, and then have a pop-up, drop down or a blinking light on the message icon to ask you to update, or verify or whatever.

And if you get an email from your financial institution with a new program, offer to upgrade services, or a new benefit, they typically will provide a link to check it out. If you see such an email, look at the “FROM” email address. If it looks fishy, do not click on anything.

For example, I received an email from Bank of America (or so it said it was from them) that just looked a little odd. It was for an offer for a 0% interest balance transfer, with “click here” to get started.

The email was from suzyjb7-x@walkersite.eu

Would Bank of America send me an offer email from that email address? NEVER!

An email from IRS or Social Security. I can say with 99.999999999% certainty, that IRS or Social Security will NEVER send you an unsolicited email about anything. They will both use snail-mail to ask you something or tell you something.

We find ourselves playing a never-ending game of avoiding these criminals, but it takes vigilance and determination, that the vast number of Americans are not willing to do.

Or do not believe it is a problem. They do so at their risk yet could often put their clients at risk.

What year am I talking about?

A nice house in a metropolitan area was $80,000, and a more modern larger house was $110,000.

Gasoline costs $1.19/gallon. Minimum wage was $3.15/hour. A gallon of milk costs $1.30/gallon

Home mortgage interest rates were around 13.75%

The average family income was $21,200.

In today’s market, we hear agents stating that their buyers are waiting for interest rates to drop. On social media, as well as news broadcasts, there is whining and complaining about how high the interest rates are, which is why the real estate market has slowed.

Yes, the market, right now (early October) is slower than 3 months ago. 3 months ago, average temperature was 103 degrees, the kids were on summer break and buyers were looking for property.

Now, again, early October, it is still hot, in the 90s, kids are now back in school, and a good portion of the real estate salespersons are back to work, after going to upstate AZ, San Diego, northern Michigan or Canada. Summer is always slower in Arizona.

Interest rates this morning were 6.46% for a 30-year fixed rate, and 5.87 % for a 15-year fixed rate. That means that rates have hardly fluctuated in the prior 6 months. 

In the 1950’s during a housing boom after WWII, the average interest rate was 5.1%.  A new house costs $6,000. Ask your parents or grandparents what their house cost and what interest rate they paid in the 1940s and 1950s.

The questions up top, what year? That was 1980.

Unlike gas, milk, wages and other common goods, which have steadily escalated in cost, home mortgage interest rates have stayed relatively stable. Yes, the late 1970s and early 1980s were an exception. But on a 50-year chart, 1970 to 2020, the average home mortgage interest rate was 7.33%.

Interest rates today are below the 50-year average. So why are buyers sitting on the fence? 

Follow this example. We have a $750,000 sale, with a $600,000 loan.

At today’s rate, 6.46%, the annual payment is $52,044

If the rate drops 1 point, to 5.46%, the annual payment is $44,424

The difference between waiting for the rate to drop 1 point is $7,620 per year. Yes, the buyer saves that amount in the year.

BUT let’s consider the house which they wished to purchase for $750,000. How much should the value change in one year? While it is impossible to predict, in the short term of 1 year, that houses might increase 4.22 percent in value (national 30-year average value increase), or $31,658

Again, no one has the crystal ball. Year to year, home prices in the Phoenix Metro area are down 1.5%, from July 1, 2024, to June 30, 2025 (Tucson was up 2.1% for the same date range, and Flagstaff was up 2.6% from August 1, 2024, to July 30, 2025) Of course, a lot depends on who is providing the statistics and how they are calculated.

If we look at year to year, in 2019-2020, the numbers are vastly different, with gains much different, (Phoenix was up 30.1%, Tucson was up 9.2% and Flagstaff was up 10.3%)

By waiting the one year, while the buyer would save $7,620 with a lower payment, the cost of house increased almost $32,000 if it is still on the market.

Bottom line, by waiting for the rates to drop, the value of homes will typically increase. So, while your buyer wants to see the rate drop by 1 point, they will probably pay more for the house they want to buy when they decide to buy it. They will end up paying more while waiting.

Most landlords and property managers will agree, they are often faced with items left behind by tenants that either abandon a property or leave at the end of the lease term. Often those items are inconsequential, such as magazines, random articles of clothes, dishes and cleaning products, tools and various other household items.

Yet sadly, they also abandon animals, including dogs and cats and sometimes pigs and monkeys. Clearly those present an immediate problem, since they must be dealt with quickly. Once the landlord provides notice to the tenant, the tenant has one day to return and retrieve the animals. If they fail to do that, the landlord may/must bring those animals to a shelter.

In many cases, the landlord has limited contact information for the tenant. Whatever the contact information, whether it being an email, phone call, text message or even a letter mailed, often the tenant does not provide an updated address. Thus, the landlord may send the notice to the last known address for the tenant which is often the property itself. If the tenant submitted a change of address at the Post Office, that letter could take two weeks to be forwarded and to reach the tenant. That said, if the landlord is unable to reach the tenant direct, they may proceed to remove the critters.

What if an animal is aggressive? Dogs that are skittish or snarl at people. What if the cats are elusive, run away and hide. After the tenant has failed to return to reclaim the animals (after the landlord sends notice), the landlord should call Animal Control and allow them to corral the animals and take them to a shelter.

In many situations, the tenant leaves other types of critters behind. Exotic animals such as snakes, large spiders, large birds and fish that all require a certain type of handling. In many cases, those critters could be dangerous if not handled properly.

Again, under the 1-day notice, if the tenant does not retrieve these critters, the landlord may determine their viability, and turn them over to Animal Control. In most cases, Animal Control will take any exotic animals and handle them based on the state or county rules.

The same holds for the non-exotic, non-dangerous animals, such as hamsters, goldfish, small birds, ferrets and any little critter. Rather than making a tough decision, Animal Control would often take them.

Over and above the typical refuse and worthless personal property tenants tend to leave behind, the critters create a different process. The care and feeding of these animals should not be up to the landlord or their manager. While we are unable to determine or require what Animal Control does with any critter, it is best to get them out of the property as soon as possible. Preparing a property for the next tenant or sale should be done without any critters of any form in the property.

Leaving anything behind, including the animals, debris or worthless items might cost the landlord fees or charges to handle, transport or even feed the animals. Those are costs the landlord would include in any accounting of how much money they may retain of the tenants’ deposits, or money the tenant may owe after that accounting. Once the landlord has determined all the costs of the tenants’ breach of lease, the landlord has 14 days to send the tenant an accounting of funds returned or owed. If, after the landlord retains their security deposit, the tenant still owes money to the landlord, the landlord may work out any agreement for the tenant to pay that amount. Or, last resort, sue the tenant in small claims court and hope for a judgement against the tenant.

In all cases, any questions after you enter a property to list, speak with your broker.

As we enter a new age of real estate, we have experienced numerous changes in the last year. One such change has been the Non-Member MLS Access, which offers a choice to real estate agents for membership in a real estate organization. For two generations, real estate licensees who wished to focus on residential transactions were obligated to join the National Association of Realtors through their local and state associations. To sell real estate, licensees must sign up with a broker, which translates to the membership of NAR, thus calling themselves Realtors.

Since the dawn of the national organization in 1909 and the MLS programs across the country, all the services for access to the MLS flowed from the national, state and local associations of Realtors.

Thus, Realtor members really had no choice. If their broker was a Realtor member, every licensee under that broker was required to join the Realtor organization.

Now, in mid-2025, agents have a choice. In the fall of 2024, Phoenix Realtors developed Non-Member MLS Access, (originally titled MLS Choice) which offers the members a choice of how they want the services delivered to them.  Since the introduction of Non-Member MLS Access, many brokerages in Arizona have made the switch or included that program. For most brokerages to truly offer the choice, they must form a sister or subsidiary company, with a different designated broker, for their agents. That provides the licensees in their company with a choice; stay with the side that offers Realtor membership or move to the other side whereby they become a Non-Member MLS Access agent, losing their Realtor designation.

Non-Member MLS Access offers reduced billing, (only paying Phoenix dues), and not to the state or national organization. Non-Member MLS Access offers the same MLS access, and other services through the local association.

And, Non-Member MLS Access now provides 9 new Contract forms, as compared to the 70+ forms offered by the Arizona Association of Realtors. While the forms contain the clauses needed in a real estate purchase contract, they do look and flow very differently. That alone has created some objections and anger in the industry. It creates challenges when a Non-Member MLS Access member submits an offer to a Realtor member, on a form that the Realtor member has not seen or has seen yet refuses to acknowledge.

This is our new world of real estate. As such, Non-Member MLS Access agents must realize that the Realtor members will naturally be reluctant to present that offer to their seller, simply because they do not know or understand that form. That said, the Non-Member MLS Access also must be prepared to receive a counteroffer on the Realtor form.

At the same time, the Realtor members must understand that regardless of their discomfort or being uneasy about a form that they have not seen, they are nonetheless obligated to present that offer to their client.

Recently, it became known that some brokerages and specifically, the designated brokers, have instructed their Realtor members to NOT present any offer to their sellers on a Non-Member MLS Access form.

Sadly, those brokers and agents are willing to violate Commissioner’s Rule R4-28-802.B, which requires licensees to “present all offers” to their client as well as the Realtor Code of Ethics, Article 1, Standard of Practice 1-6. Any Non-Member MLS Access agent that is told that their offer will not be presented should first talk to their own broker and then the broker of the listing agent.

Realtor members have voiced opposition to dealing with other groups’ forms. Those Realtor members need to be aware that many areas around the country have multiple state organizations, each having their own set of forms. Michigan has 36 state-level associations, and 8 of them have forms different from the other organizations. Thus, Realtors within one state organization might need to learn forms from numerous other organizations.

In late January 2025, ADRE Commissioner Nicolson posted a message on their social media page, (and on the AZRE.gov website), reminding agents and brokers that ALL offers must be presented to the client.

Realtor members…remember your obligation is to present ALL offers to your client, even on a different form, on a napkin or even verbally. Then the listing agent should allow the seller to decide how to respond.

All members should be familiar with the forms that are on the street being used by co-broke agents. On either side, your client will be best served when you are assisting them in navigating any form presented to you.

No, that’s wrong. Deed fraud is running wild and is very prevalent across the country. Here in Arizona, the cases of deed fraud are mounting daily.

To that end, in the spring of 2024, Governor Hobbs directed the ADRE to create classes to cover 3 specific issues prevalent in Arizona. Those are deed fraud, fire issues and water situations. All three courses are now required to renew your license, and can be taken as 3 One Hour courses, or 1 Three Hour course, all for General credit. The result is that now all licensees have 7 required categories for 21 hours, and one Elective in any category.

So, first question. What is Deed Fraud?

These are cases where criminals pose as the rightful owner of a property and then attempt to sell the property and gain the proceeds. They are often successful once they gain specific information about the owner, through hacking services on the owner’s email accounts on their devices. Citizens are victims of hacking every day, and real estate agents are the easy targets for the criminals. Once the criminals get access to your devices through hacking, they will see every email, every text (smartphone) stored passwords, downloaded documents (such as a rental application or client information application). Thus, the criminals have access to any and every detail that is contained within those files.

That process alone can be very damaging to the agent as well as their clients. Once the criminals are successful in accessing websites, accounts, and information on the parties, they will go to the next step; attempt to sell the property that is often identified in email communications found on a hacked device.

The owner is often totally unaware that fraud has occurred for months or even years. Imagine waking up one morning and learn that you no longer own your house. Or vacant land. Or commercial investment property.

Every county recorder in Arizona has a prevention program. EX: for Maricopa County, here is the link to post your addresses and names that would be found on recorded documents in the county files.

https://recorder.maricopa.gov/MaricopaTitleAlert/Default

By registering, any time anything is done regarding that deed, or that name, the county will alert the deeded owner that action is being taken against their property. If the owner takes proper, quick action before title is transferred, the criminal act could be stopped. However, once title transfers, there is very little that can be done, other than making a claim on the title insurance in place on the property. We should never rely on a claim on title insurance as it is a long, ugly and possibly expensive process.

Lastly, the American Land Title Association has produced a useful tool to explain deed fraud, how it occurs and the actions to take to prevent it.

Here is the link to that tool, which I gathered from The Arizona Realtors website.

https://www.aaronline.com/wp-content/uploads/2023/06/06/ALTA-Seller-Impersonation-Handout.pdf

While no action is 100% effective to stop this criminal activity, any steps you can take, and share with your clients will go a long way to prevent this occurring. Diligence and vigilance are the key, and by simply registering your names and addresses, that goes a long way. While it will not stop the attempt to defraud you, it will provide notice that something wrong is going on.