Posted by William Bronchick on October 03, 2003 at 20:29:56:
There is nothing inherintly wrong with an agent buying a property from someone and reselling or flipping it for a profit. However, there’s always the issue of over-reaching if the person came to you looking to list. In that case, an appropriate disclosure would be that the seller understands he is selling it to you below market because XYZ. He understands that if you listed it you might be able to get more. And, he decides to proceed with the sale knowing this fact because ABC (e.g., needs to sell quickly, doesn’t want the hassle, etc).