Emily, a real estate salesperson, represented a seller for a successful sale of their detached home in Kingston six months ago. The transaction is complete. Now, a potential buyer approaches Emily, expressing interest in purchasing a similar property in the same neighbourhood and asks about the past selling prices of homes, specifically mentioning the one Emily previously sold. What information can Emily ethically share with the new potential buyer?

Question: Emily, a real estate salesperson, represented a seller for a successful sale of their detached home in Kingston six months ago. The transaction is complete. Now, a potential buyer approaches Emily, expressing interest in purchasing a similar property in the same neighbourhood and asks about the past selling prices of homes, specifically mentioning the one Emily previously sold. What information can Emily ethically share with the new potential buyer?

Answer options:

• Emily can disclose the exact selling price of the previous transaction, as the deal is closed and confidentiality no longer applies.
• Emily can only refer the buyer to publicly available information, such as average neighbourhood selling prices, without revealing details of her past client's transaction. ✅ Emily must seek permission from her former seller client before disclosing any details about their past transaction.
• Emily can share the selling price, but must not share any other confidential information obtained during the representation, such as the seller's motivations.

Correct answer: Emily must seek permission from her former seller client before disclosing any details about their past transaction.

Explanation: Rule 9(2) of the Code of Ethics states that a registrant who has a client relationship with a party to a trade shall not disclose any confidential information about the party without their express consent, even after the expiration of the agreement.