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Inquiry Hearing Cases--A Selection II
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The Disciplinary Committee, after careful consideration of the evidence, decided the complaint substantiated in that the estate agent had failed to observe Paragraph 3.4.1 of the Code of Ethics to ensure that the absentee vendor had properly authorised the other vendor to sign the provisional sale and purchase agreement on his behalf. However, in view of the fact that the estate agent had already duly advised his clients to pay the deposit to the vendors' solicitors as stakeholders, the Disciplinary Committee only ordered that a warning be issued to the estate agent.

Paragraph 3.4.1 of the Code of Ethics
Estate agents and salespersons, in engaging and accepting an appointment as an agent, should protect and promote the interests of their clients, carry out the instructions of their clients in accordance with the estate agency agreement and act in an impartial and just manner to all parties involved in the transaction.

 

 

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