public site  |  contact  |  join us  |  members only / forms |  mobile
TODAY IS:

Code of Ethics Case Studies

Case #1-18: REALTOR® Not Responsible for Legal Advice

Client A listed a commercial property with REALTOR® B who sold it. Following the sale, Client A learned that his total tax position would have been more favorable if he had disposed of the property in a trade. He complained to the Board of REALTORS® against REALTOR® B stating that in connection with his listing of the property he had discussed his total tax position with REALTOR® B, and that REALTOR® B, in spite of his obligation under Article 1 of the Code of Ethics to "be informed regarding laws" had failed to advise him that a trade would be more to his advantage than a sale.

At the hearing, REALTOR® B defended his actions by stating that it was true that Client A had briefly outlined his total tax situation at the time he listed the property for sale. REALTOR® B advised that he told Client A that sale of the listed property might result in unfavorable tax consequences and suggested that Client A consult an attorney. The client had not taken his advice.

After several weeks of advertising and showing the property, in the absence of a change of instructions from the client, the property was sold in accordance with the terms of the listing contract.

What do you think the hearing panel concluded? Show Answer


 
 
 
 
 
 




WED
5/03
9:30 AM - 12:30 PM
SOLD OUT!
DC Fair Housing & Predatory Lending
 
1:30 PM - 4:30 PM
DC Legislative Update / Exam Prep
MON
5/08
1:30 PM - 4:30 PM
Meeting With the Buyer for the 1st Time
WED
5/10
9:30 AM - 12:30 PM
Financing Issues / Update
THUR
5/11
1:30 PM - 4:30 PM
Successfully Selling HUD Homes
view entire calendar >
Sign up for future calls to action
March Home Sales
 
 
The Voice for Real Estate in Prince George's County
© Copyright 2001-2017 by the Prince George's County Association of REALTORS® Inc.   All Rights Reserved.
Developed and Hosted by CyberVillage Networkers, Inc.