The fabulous prices being paid for real estate in the southern sin cities have, according to an informant, resulted in instances of moonlighting by realtors. We have been told that down south some sharp agents , employed by companies, have been secretly buying off plans for themselves , planning on a quick flick to somebody else, sometimes a close friend in on the stunt , at times using their firm’s own letterhead , without them knowing , to enter into agreements. This sharp practice not only leads to a capital gain, it obviates the need to share the commission with the firm for whom they work.
Companies which discover they have been diddled by these staff members are rightly annoyed and legal letters have been flying about or being considered . A number of shonks involved in such deals are likely to lose their licence to act as realtors, we are told . It is to be hoped that this unethical activity does not find its way into the Territory.
