Client A called on Realtor^® B to list a small commercial property. In stipulating the price at which he wished to list the property, Client A explained that he was aware that it was a relatively low price, but he wanted a quick sale and, he added, a higher price could benefit very little at that time because of certain tax considerations. He told Realtor^® B that a number of prospective buyers had spoken to him about the property within the past year.

He gave their names to Realtor^® B and said he felt sure that among them there would be a ready buyer at the price. He told Realtor^® B that he wanted the property submitted to them first. The next day, Realtor^® C, who had unsuccessfully solicited the listing and learned that the property was listed exclusively with Realtor^® B, called Realtor^® B to ask that he be accepted as a cooperating broker. Realtor^® B told Realtor^® C that because of unusual circumstances the best service to his client did not require cooperation; that a prospective buyer was at that time seriously considering the property; and that under the circumstances he preferred not to invite cooperation.

Realtor^® C complained to the Association of Realtors^® charging Realtor^® B with a violation of Article 3 by refusing to cooperate. Pursuant to the complaint a hearing was scheduled before a Hearing Panel of the Association’s Professional Standards Committee.

During the hearing, Realtor^® B outlined fully the circumstances under which the property had been listed by him, and maintained that the interest of Client A would not be advanced by acceptance of cooperation by Realtor^® C. 

QUESTION:  

How do you think the panel ruled?