Ethical behaviour and code of conduct

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Reference no: EM133801356

Question

Ethical Behaviour / Code of Conduct An estate agent places an advertisement in a local newspaper offering a property for sale. The advertisement contains a full colour picture of the house and a description of its features. The advertised asking price is obviously below market value and is based ostensibly on the fact that it is an "urgent sale". A prospective purchaser, reacting to the advertisement, contacts the estate agent and is advised that the house has already been sold. The estate agent, having made contact with the purchaser, now invites the purchaser to view other properties which the agent has for sale. It later transpires that the estate agent never had a mandate to offer the property for sale and that the offending advertisement was simply placed as "bait".

1. Are the actions of the real estate agent legal and/or ethical?

2. What are the legal implications of his actions?

Reference no: EM133801356

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