An agent, Emily, from Summit Realty, learns through a casual conversation with a neighbour that the seller of 99 Elm Place, Richmond (for whom Emily's colleague, Mark, is the designated agent), is facing severe financial distress and is desperate to sell quickly below the asking price. Emily has a buyer client, Mr. Singh, who is very interested in 99 Elm Place. What is Emily's obligation regarding this information and Mr. Singh?

Question: An agent, Emily, from Summit Realty, learns through a casual conversation with a neighbour that the seller of 99 Elm Place, Richmond (for whom Emily's colleague, Mark, is the designated agent), is facing severe financial distress and is desperate to sell quickly below the asking price. Emily has a buyer client, Mr. Singh, who is very interested in 99 Elm Place. What is Emily's obligation regarding this information and Mr. Singh?

Answer options: ✅ Emily must keep the information confidential from Mr. Singh, and from Mark, because it is confidential information about the seller that she acquired, even incidentally.

• Emily is obligated to inform Mr. Singh about the seller's financial distress and motivation, as this information could benefit her buyer client.
• Emily must immediately disclose this information to Mark, the seller's designated agent, so he can manage his client's situation.
• Emily must avoid discussing 99 Elm Place with Mr. Singh and recommend he find a different property.

Correct answer: Emily must keep the information confidential from Mr. Singh, and from Mark, because it is confidential information about the seller that she acquired, even incidentally.

Explanation: Even if acquired incidentally, Emily has received confidential information about a party to a potential transaction involving her brokerage. Under designated agency, and as per the BCFSA Rules regarding confidentiality, she must not disclose this information to her buyer client, as it would be detrimental to the seller, who is also represented by her brokerage.