A seller tells their listing licensee, in confidence, that a foreclosure means they must sell within 30 days. A buyer's agent then asks the listing licensee why the seller is moving. What should the listing licensee do?
Correct Answer
A) Keep the information confidential unless the seller authorizes disclosure
Real Estate Services Rules s. 30(e) requires the brokerage and its licensees to maintain the confidentiality of information respecting the client. The seller's financial pressure is the client's confidential information, so the listing licensee must not reveal it without the seller's authorization.
Why This Is the Correct Answer
The duty in s. 30(e) is to keep client information confidential. Only the seller can authorize disclosure of the foreclosure.
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