Ethics Level 2

Question 1

When managing a conflict of interest what must you consider?

Answer 1

Whether your actions might;

• reasonably be perceived to imply a lack of integrity
  – cause embarrassment to your profession or
  – mean that you are unable to advise and represent each client objectively and independently.

Question 2

How did you identify the conflict at the Myrtle Tavern?

Answer 2

I check the access details for the appointment.

Notice the names, knew they had moved recently. Rang Mrs to confirm what I suspected and stated that there would be a perceived conflict of interest.

Could be considered an own interest conflict as the personal relationship could be perceived to influence valuation as you know that person and might have bias towards them.

Question 3

How do you avoid a conflict if you are instructed on a HBR/Valuation on Countrywide or Connells owned estate agents property?

Answer 3

RICS anticipates that Conflicts of Interest are unlikely to arise, simply by way of business/ownership structure, if the following criteria are all satisfied:

i the firms are separate legal entities

ii there are no directors, partners or employees in common between the firms

iii there is no direct or indirect fee sharing between the firms and

iv there is no access to information or common internal data sharing arrangements relating to the area of conflict.