How can an agent manage conflicts of interest effectively?

An agent can manage conflicts of interest effectively by providing full disclosure to all parties involved. This approach fosters transparency and trust, which are essential for maintaining a healthy relationship between the agent and the parties they represent. By fully disclosing any potential conflicts, the agent allows all parties to make informed decisions and ensures that they are aware of any factors that might influence the agent’s judgment or actions. This proactive communication helps to align expectations and can minimize misunderstandings or feelings of betrayal later on.

Prioritizing one party's interests above others typically leads to bias and can damage the agent's credibility and professional relationships. Avoiding communication with conflicting parties would create a lack of clarity and could exacerbate the situation, rather than resolving it. Negotiating separate agreements might be a tactic used in some situations, but it does not inherently address the potential conflict of interest nor does it prioritize transparency among all parties involved. Thus, providing full disclosure stands out as the most ethical and effective method to manage conflicts of interest in an agency situation.