What is a common method for resolving conflicts of interest in Maryland real estate?

The method of full disclosure and informed consent is widely recognized as an effective approach to resolving conflicts of interest in Maryland real estate. This practice ensures that all parties involved are fully aware of the potential conflict and the implications it may have on their transactions. By transparently communicating the nature of the conflict, agents maintain their ethical obligations and foster trust with clients.

Clients are then given the opportunity to make informed decisions based on this disclosure. This process respects the autonomy of clients and affirms that they consent to proceed with the knowledge of the existing conflict.

The other options do not align with ethical practices in real estate. Ignoring a conflict does not resolve it and can lead to further complications or liabilities. Making private deals with clients can create a perception of impropriety and erode trust, as it lacks transparency. Seeking legal counsel only may be beneficial in certain circumstances, but it does not inherently address the need for conflict resolution through communication and consent with all affected parties. Therefore, full disclosure and informed consent are paramount in ensuring ethical practices and protecting the interests of all parties involved.