what is "unethical" yet also beneficial for the agent?
2007-08-18 16:39:06 · 8 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
There are many things that a real estate professional may do that are unethical. Its hard to list it here. Do you have a specific question. I am a licensed Real Estate Associate in Oklahoma.
2007-08-18 17:39:37 · answer #1 · answered by Anonymous · 0⤊ 0⤋
To take a listing on a grossly undervalued house and sell it to a friend or relative.
Not represent your clients best interest.
Use inside information to work against fiduciary responsibility.
Unethical but beneficial to the agent would be to withhold information to a party that is going to benefit in the transaction that would adversely effect the transaction. Don't ask, don't tell, collect a check. Bad practice for someone that is in this business for the long term.
2007-08-19 01:03:07 · answer #2 · answered by godged 7 · 0⤊ 0⤋
What comes to mind, is an experience we had with a realtor
once. We'd gotten an offer on our year old house, and the
buyer wanted to move in within the month, and so offered
our asking price. We agreed,and when we went to sign the
final papers, the realtor informed us that she'd miscalculated
and her part of the deal was much more than we'd expected.
In order for everything to go smoothly we had to agree to the
larger commission price. Which was more than we got out
of the deal ourselves. She knew we were between a rock and
a hard place. That was unethical and a complete scam.
2007-08-18 23:55:04 · answer #3 · answered by Lynn 7 · 0⤊ 0⤋
It is unethical for an agent to convince a seller to lower a price for a quick sale, and then sell the property to a relative looking for investment properties.
2007-08-18 23:51:52 · answer #4 · answered by Tom 6 · 0⤊ 0⤋
Isn't anything a real estate agent does unethical?
2007-08-19 03:24:57 · answer #5 · answered by klinkerklank 1 · 0⤊ 1⤋
Holding back an offer because the agent holds both sides (buyer broker and seller's broker's commission) of a lesser offer.
2007-08-18 23:43:14 · answer #6 · answered by marie 7 · 2⤊ 0⤋
it would be inethical for the agent to buy a house they are supposed to be selling that they know is undervalued - then sell it themself for the profit - they should sell it for the hgiher amount for the original buyer and be happy with thier cut
2007-08-18 23:43:20 · answer #7 · answered by Shopaholic Chick 6 · 1⤊ 0⤋
Showing different neighborhoods to different people depending on their race.
2007-08-18 23:42:55 · answer #8 · answered by Elizabeth E 3 · 2⤊ 0⤋