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Watchdog criticizes Postal Service for lack of ‘arm’s length’ real estate deals
The Washington Post: The U.S. Postal Service is putting itself at financial risk by allowing an outside real estate firm to negotiate sales and leases of postal property on behalf of the mail agency and prospective buyers and renters at the same time, a watchdog warned Wednesday.
The practice, called “dual agency representation,” has the potential to create conflicts of interest for CB Richard Ellis, with the result that the real estate company might not maximize revenue for the financially ailing Postal Service.
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