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Realtors Code of Practice and Ethics



Article 1
Scope

Real Estate Agent is the (natural or legal) person may indicate opportunities or arranges a contract of property, notably contracts to buy, sell, exchange, lease, concession or lease real estate in exchange for construction, and the transfer of business or entering into bank loan agreements.

 

Article 2
Purpose


The purpose of this Code of Ethics are the rules that govern the relationships and behavior of Realtors at the onset of their employment, under existing legislation, in order to foster a climate of camaraderie, optimization of services they provide, upgrading the quality of the profession and protect the transacting parties (clients - clients).

 

Article 3
General Principles


The Estate Agent must comply with specified by this Article principles of conduct as follows:

A) To act as part of his business with a sense of social mission is to implement and accountability and professionalism that should be displayed.

B) to treat with due respect the customers, making all of his forces to successfully carry out the orders given to him.

C) not limited to the narrow self-interest, but have a sense of collectiveness and solidarity to legally practicing real estate profession colleagues, all of whom must maintain harmonious and honest cooperation, as well as to care for the common good avoiding unfair competition every element of their professional practice.

D) To provide practice for the social prestige of the profession is committed to exercise.

E) To protect the professional reputation and especially not to mediate for the award contrary to law or morality.

G) To ensure the appearance, especially in dealing with public authorities, the daily transactions and signing contracts.

 

Article 4
Responsibilities to Clients


A) The Agent may represent as clients for a contract either side (buyer-tenant or owner), or with the prior written permission of both media and both sides.

B) The broker is required to ensure the assumption of command from each client to clearly determine the amount of the brokerage fee.

 This should be set in relation to the value of the contract, the conclusion of which was provided brokerage services, work toil where necessary estimates that will be required to pay and driven preserve professional dignity and marketable morals.

C) The broker must fulfill its contractual obligations undertaken in accordance with the principle of good faith.

 Without these data must notify and inform customers, especially when the property is handled in his own or his own interests or when acting on behalf of a relative to the first grade or has or expects any financial interest in the intended contract other than the agreed brokerage remuneration.

D) When the mediation relates to property outside the boundaries of the seat, it is recommended to fully carry out its mandate to seek cooperation with colleagues active in the region where the above property, which according to the teachings of common experience can provide the decisive assistance, through direct perception reasonably have about the conditions and characteristics of the local market.

E) The differential treatment of customers, for subjective qualities and characteristics of the client, especially discrimination on religious or racial grounds.

G) The broker shall maintain a special bank account for deposits and generally for the money collected on behalf of third parties. This account should not submit his own money and not use money from this account for any reason without the approval of transactions.

H) shall, before the conclusion of the contract, the principals of the properties of the property of the order, and any defects that really, who may have been aware of or have any come to his attention in any way.

I) To protect the professional secret and not to disclose my personal and financial data of clients, in addition to those necessary for the formation of the contract.

J) The Agent will be updated at regular intervals as to the movements and changes that affect the real estate and real estate and has consultative opinion on the issues that concern them.

K) The Agent should not use misleading advertising to investors-consumers, as it should make advertising - ad without mentioning its name or the name of his office, and not necessarily in a professional capacity . Also, do not advertise in public buildings - public areas.

 

Article 5
Setting professional relationships where there is cooperation more brokers.


To avoid jams and friction, apportionment of fees in case of cooperation of several brokers in this case is based on the principle that the fee paid by each of the contracting side he served basis and the specific services provided, with the following specific variations:

- The broker that provides a simple information - establishing customer (customer name and phone number or property information) without involvement of the suggestions and advertising campaigns, by written agreement with the other party that collects mutually agreed.

- Avoid dispute with his colleagues and especially bystanders customers. If there is a dispute or controversy between colleagues is appropriate to be submitted to arbitration before the competent organ of the Association of Realtors, which is registered in order to resolve and avoid litigation between them.

- Reductions in fees or payment securities, made for any reason without prior agreement between the involved colleagues, borne only colleague who agreed.

- In cases involving licensed broker employed as a Real Estate Agent, responsibility distribution fee in principle the agencies and then in the second stage occurs the distribution of pay for each office between him and his associates.

- Any commissions on loans received by the broker representing the buyer unless otherwise agreed in writing.

The separation of brokerage services is as follows:

Services relating to Owners - Sellers:

• Communication and explore the intentions of the seller.

• Market research and study of competitiveness with other similar properties that are for sale or sold in the same area

• Target setting and baseline determination

• Information on possible charges of property (banking - insurance-liens foreclosures - auctions)

• Negotiating on behalf of the Owner - Seller

• Marketing - to promote the property.


Services relating to potential buyers:

• Communication and explore the Buyer Intent

• Market research based on standards-requirements.

• Targeting based on economic and creditworthiness

• Information property (of any owner, regardless of who serves or broker representing the owners)

• Information on funding programs.

• Information on potential tax liabilities

• Negotiating on behalf of the Purchaser.

 

Article 6
Relations with Partners and Rules for such movements


Strictly prohibited from encouraging or abetting illegal brokerage activity, fighting and criminal punishment which is a major concern of the Association, particularly the recruitment and employment partner and associates, other than those exhaustively listed in this and the next article.

The Agent may employ test as mentioned in the Act Licensees or Affiliates Brokers his office. 

To them must be brought with respect, take care to train them to honor their labor to them by not depending on the particular contribution, a percentage of the brokerage fee (by written agreement).

Nor has since held personally liable for all acts and omissions of its partners - assistants, immediately inform the Association of any disciplinary action punishable offenses, which wanted to commit and stop the cooperation with them.

To avoid unfair competition and phenomena malpractice postings from fellow colleagues, the following rules apply:

The controller integrates an office in this dynamic new partner, who said it has worked previously at another agency, must contact and inform the office in which he employed at least 48 hours from the start of cooperation.

The maintenance of absolute secrecy is a fundamental duty of all, Realtors - Testing - Partner. Listings and other information may not be transferred or transmitted by test - colleagues in another agency. Liability obligations and housing agencies receiving these lists.

Realtor Fees - Partners from transactions and collaborations made during the period the Associate Broker or involved in collaborating agency other colleague belonging to the corresponding office. 


Article 7
Status Assistants - Relationships With Society


1) Referring to the Association, the Assistant can be placed under the probationary or trainee for a period which may not exceed the period specified by the relevant Law.

After that time must be equipped with a professional license or be hired.

2) recommend to the relevant associations to issue IDs Academy Realtor with the disclosure of an office in which to do the testing.

3) The Independent Associates permit must hold a membership card.


Article 8
Types of Orders and Other Service Broker


 Proposed that the mandate of the collective are watermarked and numbered.

Other Services:

• Estimates are entitled to act only colleagues with equivalent training recognized by the clubs in question and at least five years' experience.

• Performances expertise in judicial or other authorities. Performances have the right expertise to do only those certified for property valuation and legally allowed to carry them.

• For each assessment should broker before taking command of estimation.

 


Article 9


Any infringement and willful contravention of the provisions of this Code constitutes a disciplinary offense.

Competent Authority for disciplinary offenses are concerned Commercial Chambers

The Code of Conduct may be revised if necessary and open to improvements and some changes to articles after a decision by the Governing Council of the Federation and having been passed by the General Assembly.


Article 10


The strength of this commences immediately after the enactment of the General Assembly of the Federation.

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