The obligation to participate in mediations or arbitration proceedings under this article implies the obligation for REALTORS® (contracting entities) to bring their companies to play a mediating or mediation role and to be bound by an agreement or attribution that results. (Modified 1/12) [Hearing] Like the listing agreement with sellers, agreements with buyers must have a start and end date and indicate how the buyer`s broker should be paid (by the seller or by the buyer himself). In addition, the obligations and obligations of all parties should be defined. [Citation required] REALTORS® is not interested in or buying or making offers of itself, a member of their immediate family, their business or a member of the family, or companies in which they have an interest in property, real estate, without making their true position known to the owner or broker or real estate agent. When selling real estate that they own or are interested in, REALTORS® sends its property or interest in writing to the buyer or the buyer`s representative. (Modified 1/00) [Hearing] Section 16 does not prevent REALTORS ® from contacting another broker`s client to offer another type of real estate services or entering into a contract that has nothing to do with the type of services currently provided (for example. B, real estate management as opposed to brokerage activity) or offer the same type of service to real estate that are not covered by the exclusive contracts of other brokers. However, information received through a multiple listing service or other cooperation offer should not be used for customers of other REALTORS® who may submit such service offers. (Modified 1/04) REALTORS® acting as a sub-agent, buyer/tenant or broker must not use the terms of an offer to purchase/lease to attempt to alter the broker`s offer of compensation to sub-agents or buyers/tenants or brokers, or to presupply the submission of a purchase/lease offer executed under the agreement of the stockbroker. (Modified 1/04) The agreement should also define how conflicts of interest are handled.
A conflict of interest may arise when a buyer represented by a traditional company is interested in a seller also represented by that company. [Citation required] REALTORS® cannot obtain buyer/tenant contracts from buyers/tenants subject to exclusive buyer/tenant contracts. However, at the request of a realtor® the broker refuses to disclose the expiry date of the exclusive tenant contract, REALTOR can contact the buyer/tenant® to insure this information and may discuss the terms under which REALTOR® can enter into a future buyer/tenant contract or, alternatively, enter into a buyer/tenant contract that will be effective after the expiry of an existing buyer/buyer contract.