A salesperson representing a buyer in Ontario learns, through no breach of their own duties, that the seller would accept $50,000 less than the asking price. How should the salesperson handle this information?
Correct Answer
C) Share it with the buyer client to promote the buyer's interests
Under the Code of Ethics (O. Reg. 365/22, s. 8), a registrant who represents a client must promote and protect that client's best interests. A buyer's representative owes the seller no duty of confidentiality, so lawfully learned information about the seller's bottom line should go to the buyer client. Protecting the seller's confidential information is the job of the seller's own representative.
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A buyer's agent learns that the seller is motivated to sell quickly due to financial difficulties. What should the agent do with this information?
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