Personal interest disclosure requirement

Receiving direct or indirect compensation from the sale of the apartment it markets, beyond the brokerage fees that the agent gets, puts him into the problem of having a personal interest in the transaction.
For example, if he or his family wants to buy a property sold at a price significantly lower than the market price.
According to Section 10 of the Realtors Law:

A property agent will not mediate if he has a personal interest in the apartment itself or the transaction unless he has revealed to his client the poor private estate as stated and received the client’s consent to it in writing.
It should be noted that a personal matter concerns the mediator himself and his family and the circle of those close to him. This breach of duty, which causes financial damage to the client, justifies the agent’s denial of the brokerage fees.

In addition to Section 10 of the Realtors Law, the agent’s obligation to act in good faith directly follows Sections12 and 13of the Contractual Law (general part).
The duty of good faith also includes the responsibilities of disclosure, fairness, and the commitment to act acceptably.

In this regard, it was also determined that Aq Ron Yesod is that those who act in the interests of another must avoid a conflict of interest between that interest and their interest or any other interest.

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