The Vancouver-area realty firm under investigation for questionable practices has just posted new ads offering homes for sale through contract assignment – the controversial and profitable practice known as “shadow flipping,” which Premier Christy Clark has promised to curtail.
New Coast Realty agents Sylvie Zhao and Lucy Wang confirmed to The Globe and Mail the two homes featured were just purchased by buyers who have since hired the brokerage to flip them before the contracts with the initial sellers close.
KATHY TOMLINSON – Globe and Mail – April 20, 2016.
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