A listing agent receives two offers simultaneously, one from their buyer client and one from another brokerage. According to Ontario regulations, how should this be handled?
Correct Answer
D) Present both offers together with full disclosure of the multiple representation
Under O. Reg. 567/05 s. 22.10, a registrant must convey every written offer to the client as soon as possible, whoever made it. Because the brokerage also represents one of the buyers, it needs the clients' written consent to the multiple representation (s. 22) and must tell the other offering buyer that it serves a buyer in the same trade (s. 22.0.3). Presenting both offers together with that disclosure meets these rules.
Why This Is the Correct Answer
Presenting both offers together satisfies the duty in s. 22.10 to convey every written offer as soon as possible. Full disclosure of the multiple representation reflects s. 22, which requires the clients' informed written consent, and s. 22.0.3, which requires the other offering buyer to be told. The seller then decides with complete information.
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A listing agent receives two offers simultaneously - one from their own buyer client and one from another agent's client. Both offers are identical in price and terms. How should the agent handle this situation ethically?
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