When a broker "exercises an option to buy" that they held during the listing period in order to resell the property to an existing buyer, they are not fulfilling their responsibility to their client. In this case, the broker has made a "secret profit" that is not allowed.
These are questions that the above text answers:
1. What is the responsibility of a broker to their client?
2. What is considered a breach of client responsibility for a broker?
3. What is the term used to describe a broker making a profit that is not allowed?
4. When does a broker breach their responsibility to their client?
5. What action can a broker take that would be considered a breach of client responsibility?
6. What is the term used to describe a broker exercising an option to buy during the listing period?
7. Can a broker resell a property to an existing buyer without fulfilling their responsibility to their client?
8. Is it allowed for a broker to make a secret profit?
9. What happens when a broker makes a secret profit?
10. What is the consequence for a broker who breaches their responsibility to their client by making a secret profit?