Question

John Jamison, a salesperson with Taylor Realty, lists the property of Charles and Loretta Simpson for sale at $52,000. The Simpson's have told Mr. Jamison that they are pressed to sell and would accept a purchase price of $49,000. Jamison shows the property to Rand Evans and tells Evans he can purchase the property for $49,000. Jamison has:

1) Property performed his duties to his client
2) Violated his relationship with his client
3) Acted in the best interest of all parties
4) Typically acted as a salesperson is expected to act.

Answer 1

John Jamison breached his duty to his clients by disclosing their minimum acceptable price to a buyer without express permission, thus violating his fiduciary relationship.

Step-by-step explanation:

John Jamison, a salesperson with Taylor Realty, lists the property of Charles and Loretta Simpson for sale at $52,000. However, taking into account that the Simpsons are pressed to sell and would accept $49,000, Jamison informs a prospective buyer, Rand Evans, of this lower price. In this scenario, Jamison has violated his relationship with his client by not seeking to obtain the best possible price for the property, which breaches his duty of loyalty to the clients. As a professional salesperson and fiduciary, Jamison should keep his client's financial interests paramount and not disclose the minimum price they would accept unless expressly authorized to do so.