Question

For a broker to act for more than one party in a real estate transaction, without the knowledge and consent of all parties, is:

a) Ethical.
b) possible violation of the Broker Relationships Act and grounds for disciplinary action.
c) not a cause for disciplinary action.
d) all right if neither party suffers monetary loss.

Answer 1

Acting as a broker for multiple parties in a real estate transaction without all parties' knowledge and consent is a potential legal and ethical violation, which can lead to disciplinary action under the Broker Relationships Act.

Step-by-step explanation:

For a broker in a real estate transaction to act for more than one party without the knowledge and consent of all involved parties is a possible violation of the Broker Relationships Act and could be grounds for disciplinary action. Brokers have a professional and legal obligation to disclose dual agency arrangements and gain the consent of all parties involved in the transaction. Ethical practice within any profession requires transparency and the avoidance of conflicts of interest. This principle extends to the core values of practitioners to ensure they act ethically and maintain professional integrity, even in complex scenarios where personal benefit or unintentional harm could occur.