Duty to avoid conflict of interests
13.—(1) Estate agents and salespersons must not accept an appointment by or continue to act on behalf of a client where to do so would place the agent’s or salesperson’s interests in conflict or potential conflict with those of the client. CPD courses.
(2) Sub-paragraph (1) means, among other things, that —
(a) estate agents and salespersons must, as soon as possible, declare in writing to the client any interest which may arise at any time and be in direct or indirect conflict with that of the client;
(b) if, on the grounds of confidentiality or for any other reason, an estate agent or salesperson is unable to make a declaration of conflict or potential conflict, the estate agent or salesperson shall decline to act for or withdraw from acting for the client;
(c) unless the client being fully informed of any conflict or potential conflict, consents to the estate agent and salesperson acting or continuing to act for him, the estate agent and salesperson shall decline to act for or withdraw from acting for the client;
(d) estate agents and salespersons must not acquire directly or indirectly, the property of the client or any right or interest in the property of the client, without the express knowledge and consent of the client; and
(e) subject to any written law, estate agents and salespersons must not directly or indirectly accept any fee, reward, commission, rebate or other payment for the referral of any services rendered or to be rendered by third parties to the client or any other party, in connection with a transaction involving the client, without the express knowledge and prior consent in writing of the client.
(3) Sub-paragraph (2)(e) means, among other things, that the estate agent or salesperson, as the case may be, must disclose in advance, and in writing, both the fact and quantum of such fee, reward, commission, rebate or other payment. CPD courses.
(4) Estate agents and salespersons must not engage in any business, work or professional activity where such business, work or activity would, or could reasonably be expected to, compromise the discharge of their obligations to their clients. CPD courses.
Recommending professional advice where appropriate – CPD courses
14. Estate agents and salespersons shall advise and encourage the parties to a transaction or proposed transaction to seek the advice of appropriate professionals, including but not limited to solicitors, tax advisers, appraisers and valuers, where there is any material matter or issue that is beyond their knowledge or expertise. CPD courses.
Safeguarding confidential information – CPD courses.
15.—(1) Estate agents and salespersons shall not disclose or otherwise use any confidential information of or relating to the client that is obtained from the client or obtained in the course of acting for the client unless the disclosure or use is made with the consent of the client, or is otherwise required or allowed by the law. CPD courses.
(2) Disclosure under sub-paragraph (1) may be made only to the appropriate person and only to the extent authorised and extent necessary for the permitted purpose.
Source: Code of Ethics and Professional Client Care (CEPCC)
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