A salesperson representing a buyer in Ontario learns that the seller is going through a divorce and needs to sell quickly. How should the salesperson handle this information?
Correct Answer
C) Tell the buyer client and use it to negotiate for the buyer
Code of Ethics s. 8 requires a registrant to promote and protect the best interests of the client, and here the client is the buyer. The seller's need for a quick sale bears on the buyer's offer, and the buyer's representative owes the seller no confidentiality. The salesperson should tell the buyer and negotiate on the buyer's instructions, while staying honest and non-coercive toward the seller.
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An agent representing a buyer learns confidential information about the seller's motivation to sell quickly due to financial hardship. How should this information be handled?
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