What must a licensee disclose before engaging outside professional services?

A licensee is required to disclose any family or financial relationships before engaging in outside professional services to ensure transparency and maintain trust with clients. This requirement is in place to prevent potential conflicts of interest that could arise from these relationships. By providing full disclosure, the licensee allows clients to make informed decisions about whether to proceed with the engagement based on the potential influence that the relationship might have on the transaction.

Understanding the nature of family or financial relationships is crucial because they can impact the objectivity of the professional services being offered, and clients deserve to know if there are any underlying connections that might affect the outcomes of their dealings. This also aligns with the ethical standards expected within the real estate profession, promoting honesty and integrity in all interactions.