A buyer tells their Ontario salesperson that the seller is facing foreclosure and must sell quickly. How should the salesperson handle this information?
Correct Answer
A) Use it, on the buyer's instructions, to negotiate a better price
The information came from the salesperson's own client, and Code of Ethics s. 8 requires the salesperson to promote and protect that client's best interests. The buyer's representative owes the seller no confidentiality, so the salesperson may use the information, as the buyer directs, to negotiate for the buyer. Passing what the buyer said to the listing side could breach s. 12 if the buyer shared it in confidence.
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