Is Leo in violation of the Code? No. See below for explanation.
What was Leo's obligation to Keith? Leo’s obligation under Article 1 is to protect and promote the interests of the client. He advised the client of his lack of knowledge about the area, the market value of the property, and that the seller should have the property appraised. Because of these disclosures and recommendations, Leo is not in violation of Article 1 nor Standard of Practice 1-3. In addition, Leo did exactly what was required under the second paragraph of Article 11 in advising the seller that residential real estate was not his area of expertise.
What Articles and/or Standards of Practice apply to this case?