Bid Shopping. Bid shopping is an unethical practice in which a contractor discloses the bid price of one subcontractor to another in an attempt to obtain a lower bid price. Included in bid shopping is âbid peddling,â in which subcontractors themselves offer to undercut the known bid of another subcontractor.
The real estate entitlement process is frequently a political one, which involves uncertainty and often extensive negotiation and concessions in order to secure the necessary approvals and permits.
The compensation paid to a real estate broker for services rendered in connection with a sale,exchange, or lease of property. In order to be entitled to a commission, the broker must have a written contract for the services and must be licensed in the state.