6. Questions to ask oneself to prevent conflicts of interest

By asking effective questions that become reflexes in his real estate brokerage practice, the license holder can anticipate and avoid real or perceived conflicts of interest.

Here are examples of questions that the licensee must ask himself to prevent conflicts of interest:

• Am I personally involved in the transaction?
   
• Am I representing a close relation (family, friend, associate, colleague, etc.)?
   
• Who is my client?
   
• Do I have any personal or family ties with any of the people involved?
   
• What are my financial, personal or other interests?
   
• What are the interests of my client and those of the other people involved?
   
• Do or could my interests conflict with those of my client and the other people involved?
   
• Are my interests opposed or could they become opposed to those of my client?
   
• Do I have an advantage over the other party involved in the transaction because of my knowledge and experience?
   
• Does the situation conflict with my values or obligations?
   
• Is there an advantage for me in this transaction other than my remuneration?
   
• Is there an advantage for me in favouring one party over the other?
   
• Can the situation create the impression that I acted in my personal interest?
   
• What is the behaviour expected of a professional?
   
• How would I react to my behaviour if I were in the other person’s shoes?
   
• What are the impacts of one choice versus the other?
   
• Would I be fulfilling my commitments and obligations toward my client by taking this course of action?
   
• What might be the impacts if the relationship or the transaction goes awry?
   
• Would the other party feel that they are being treated fairly?
   
• Do my actions actually or potentially give me an advantage, either financial or personal, (or prevent me from suffering a disadvantage)?
   
• Would I be embarrassed if my actions were made public?
   
• Could someone from the outside reasonably think that I am inclined to favour the interests of others over those of my client?
   
• Does or could the situation put my agency and its credibility at risk?
   
• Can my professional judgment be influenced by considerations other than the interests of my client?
   
• Is there a risk that I will use confidential information in my possession or to which I have access to serve my own interests or those of a third party that is not the person who provided this information?

The answers to these questions may generate doubts, reflections or discomfort. Often, this is an indication that a conflict of interest or the appearance of a conflict of interest exists. The licensee must therefore avoid it by promptly withdrawing from the situation and notifying all parties involved in writing.