Professional Standards and Ethics Flashcards

A TC's cousin is the inspector a buyer is considering. What is the ethical approach?

Answer: Disclose the relationship in writing so the client can make an informed choice

Conflicts of interest should be disclosed so clients can decide with full information.

Which activity can an unlicensed TC generally perform in most states?

Answer: Tracking contingency deadlines and sending reminders

Administrative tasks like deadline tracking are typically allowed for unlicensed assistants.

A TC receives an offer email meant for a competing agent's client. What should the TC do?

Answer: Notify the sender of the misdirected email and not use or share its contents

Misdirected confidential information should not be used or shared, and the sender should be notified.

Under the federal Fair Housing Act, which request should a TC decline?

Answer: Helping a seller screen out buyers based on familial status

Familial status is a protected class, so steering or screening based on it is illegal.

What is the best practice for handling clients' Social Security numbers and bank details?

Answer: Transmit and store them only through secure, encrypted systems with limited access

Sensitive personal financial data must be protected with secure transmission and restricted access.

A TC realizes they missed sending a contingency removal notice before the deadline. What is the ethical response?

Answer: Promptly inform the agent of the error so they can address it with the client and other side

Honesty and prompt disclosure of errors protect clients and limit harm.

When a TC is paid by the agent but interacts with the buyer, whom does the TC primarily represent?

Answer: The agent and brokerage who engaged them, within that agent's duties to the client

A TC acts on behalf of the engaging agent/brokerage and supports that agent's duties to the client.