Definition of "Quid pro quo"

Heike Sommer-Goldschmitz real estate agent
Heike Sommer-Goldschmitz, Real Estate Agent Sellstate Realty

  1. Latin term meaning something in exchange for something else. For example, a person rushes through an order for another in return for having first choice in selecting a parcel of property.
  2. A business agreement whereby a real estate firm will provide business, typically referrals, to another company in exchange for receiving a service such as research of the real estate market.

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