What is the ethical requirement for a land agent in SA when they become aware of a conflict of interest?
Correct Answer
D) Disclose it in writing to the affected parties and get informed consent, or withdraw
When a conflict of interest arises, the agent must promptly disclose it in writing to all affected parties and obtain their informed consent before proceeding. If consent cannot be obtained, the agent must withdraw from the transaction. Some conflicts cannot be cured by consent in SA: acting for both vendor and purchaser is prohibited by s 24F, and buying a property the agent is selling needs the Commissioner’s prior approval under s 24G.
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