Case Study: A Costly Waste of Time | Interactive

The sales agent in this case racked up quite the enforcement bill. She kept the $56,800 her clients gave her in a personal business account. This money was for the purchase of a property. Unbeknownst to her clients,she submitted a contract on their behalf under a different buyer’s name.She later terminated the contract without informing her clients.After discovering the property was relisted, the clients demanded are fund from the agent. Their money was returned.License holders should never mix money that belongs to another person with their own, and trust money should go to a broker or title company.The agent’s license was put under a four-year probated suspension. She was also ordered to pay $3,000 and take 30 hours of a real estate finance course.