Maria is a real estate licensee representing a buyer, Mr. Chen, who is interested in purchasing a commercial property at 456 Main Street, Richmond. Maria's brother-in-law also holds a substantial ownership interest in the company that owns 456 Main Street. What is Maria's primary ethical obligation in this situation?

Question: Maria is a real estate licensee representing a buyer, Mr. Chen, who is interested in purchasing a commercial property at 456 Main Street, Richmond. Maria's brother-in-law also holds a substantial ownership interest in the company that owns 456 Main Street. What is Maria's primary ethical obligation in this situation?

Answer options:

• Maria must ensure Mr. Chen receives the best possible deal, even if it means her brother-in-law's company makes less profit.
• Maria should ask her brother-in-law to disclose all pertinent information about the property to her to benefit Mr. Chen. ✅ Maria must immediately disclose her personal interest (relationship to the seller's owner) to Mr. Chen and obtain his written consent to continue representing him.
• Maria must withdraw from representing Mr. Chen to avoid any perceived conflict of interest, regardless of Mr. Chen's wishes.

Correct answer: Maria must immediately disclose her personal interest (relationship to the seller's owner) to Mr. Chen and obtain his written consent to continue representing him.

Explanation: BCFSA Rule 3-3(1)(k) requires a licensee to promptly disclose to the client or the unrepresented party any personal interest, direct or indirect, that the licensee has in a real estate transaction.