A real estate salesperson, Mark, is contacted by a potential buyer who is self-represented. The buyer asks Mark for advice on preparing a strong offer for a property Mark has listed. In this scenario, what is Mark's ethical obligation regarding providing advice to the self-represented buyer?

Question: A real estate salesperson, Mark, is contacted by a potential buyer who is self-represented. The buyer asks Mark for advice on preparing a strong offer for a property Mark has listed. In this scenario, what is Mark's ethical obligation regarding providing advice to the self-represented buyer?

Answer options:

• Mark can provide general advice on offer writing, as long as he clearly states he is not representing the buyer. ✅ Mark must refuse to provide any advice beyond factual information about the listed property, as advising a self-represented party could create an implied agency relationship or conflict of interest.
• Mark should offer to sign a buyer representation agreement with the buyer before providing any advice.
• Mark is obligated to assist the buyer in completing the offer, regardless of representation, to ensure a fair transaction.

Correct answer: Mark must refuse to provide any advice beyond factual information about the listed property, as advising a self-represented party could create an implied agency relationship or conflict of interest.

Explanation: Under Rule 7 of the Code of Ethics, a registrant dealing with a self-represented party must treat them with fairness, honesty, and integrity, but must not provide services to them beyond the factual information about the property. Providing advice could be construed as forming an implied agency relationship.