Whilst you have been away on annual leave, the Principal of the agency has exchanged contracts to personally purchase one of your listings. You do not believe that your vendor is aware of the fact that it is your employer as it has been purchased in a company name and there is no declaration on the file or on the copy of the contract in the file. The cooling off period will expire at 5pm today.

a) What is the problem with this scenario?

b) What skills will you need to employ to deal with this issue?

c) What steps should the principal have taken?

(Real Estate Question)