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secret profit |
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secret profit The practice of real estate agents making money on the sale of their client's real estate above the amount paid as a commission.This typically occurs when an agent recommends a sale to a friend, relative, or a corporation in which the agent owns an interest, and then the agent profits on a resale or development of the property.Secret profits violate the fiduciary responsibilities owed to the client,making the agent liable for punitive damages,payment of the profit to the client, and possible loss of the agent's real estate license. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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