Milwaukee Agent Guilty In Kickback Deal
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Instead of protecting your client, you decide to try to sell the information to other brokers in exchange for a “split fee”. This is what happened in Milwaukee regarding the sale of a 30 million dollar state building.
U.S. District Judge Lynn Adelman found Larry Lupton of Brookfield guilty of bribery, wire fraud and two counts of making false statements to the FBI. He was accused of seeking $75,000 from a broker of a potential buyer and later providing the broker with confidential details of rival bids.
Lupton claims there is no law that prohibits brokers from discussing splitting their commissions as long as no payment happens without full disclosure by all parties. msnbc.com.
The audacity of the lawyer saying that this is all okay is amazing. He forgets that agents have the duty to protect their clients interests, not broker proprietary knowledge for their own gain.
Unfortunately this happens way too often as the not so good agents are worried about closing the deal as much as protecting their clients interests, just on a much smaller scale.
Not sure this program passes the common sense test. Isn't it true that the governments management of the housing industry ...
Well, it's March 2010 and I have not seen much of a change in the economy in Indianapolis, Indiana. Maybe ...
Coastal cities are fragile in the face of a catastrophe like this. The buildings would be destroyed in minutes. 
As a potential first-time home buyer, I have zero confidence that I would be making a smart investment in purchasing ...
I also found on craigslist a home in Avon, Hartford County, Connecticut, with pictures. Then when I received the following ...
I want to know how many of you voted for "Good Ole Change"??? HAHA! How's that change working out for ...
Nina, although you seem like the ultimate heartless bitch I still sincerely pray that you are never in poor Mr. ...
It sounds like it really depends on consumer confidence then. I feel like if people do start spending their money ...
Comment by Portland Real Estate on 18 March 2009:
I call for reform! There are many little money making loopholes that I dislike. Thats like being legally forced to have homeowners insurance, but they are not legally required to cover you even though you are paying.
Comment by Tony Sena on 18 March 2009:
This is way to common and it needs to be nipped in the bud. Unfortunately, it takes deals like these, large multi million dollar deals for anything to be done.
Comment by Ivan Crago Missoula Realtor on 22 March 2009:
When a real estate agent isn’t financially stable, it makes it very difficult to keep priorities focused on the clients best interest and not on how to make payments that are due. I’m sure many do, but I can see a conflict of interest situation that has to influence some.
Comment by Kerry on 24 November 2009:
Money seems to be the root of all evil. It makes decent people turn bad. In today’s economy that seems to be even more true.