'Shadow flipping' not limited to Vancouver real estate market
Posted by Steve Harmer on
This controversial real estate move is leaving some homeowners feeling scammed
Imagine y
our realtor sold your home for $500,000 more than the price you agreed to — but you didn't see a penny of that extra cash. That's the situation for some Vancouverites, as exposed in a Globe and Mail feature Saturday February 6th 2016.
A controversial sales technique called "shadow flipping" allows unscrupulous Realtors to score two or even three times their standard commission on a single house by reassigning the sale to different owners at ever higher prices. But it's a practice that has left the original sellers feeling scammed and justifiably so.
How does it work?
An increasing number of real estate transactions in the Vancouver region feature what's…
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