What is the role of a real estate agent when there is a conflict of interest during a transaction?

The role of a real estate agent in a situation involving a conflict of interest is to disclose the conflict and seek consent. When agents find themselves in a position where their obligations to one party might conflict with the interests of another party, it is crucial for the agent to communicate this conflict transparently to all involved. This ensures that all parties are aware of the situation and can make informed decisions.

Disclosing the conflict helps to maintain trust and integrity within the transaction, which is essential for a successful outcome. Seeking consent is important as it allows the affected parties to agree on how the conflict will be managed, ensuring that each party's interests are respected to the greatest extent possible. Complying with these ethical obligations promotes professionalism within the real estate industry and protects the agent's license and reputation.

The other approaches do not align with ethical guidelines and responsibilities of a real estate agent. Choosing one party's interests over another or prioritizing personal financial gain would undermine the agent's duty to provide fair and equitable service. Remaining neutral and uninvolved may also exacerbate the situation as it does not address the conflict or protect the interests of the parties involved.