There are a number of global ethical codes relating to international real estate agency. There are also many country specific and professional body specific codes. The formal code that applies to you will depend upon the country and the sector within which you practise. If you are a member of a professional body then you should also refer to the code of practice or conduct for that body.
This chapter considers the overarching ethical responsibilities of real estate agents, notwithstanding your country of practice, and provides guidance to help you to meet the following core principles of the Real Estate Agency Code:
|1.||To conduct business in an honest, fair, transparent and professional manner.|
|2.||To carry out work with due skill, care and diligence, and ensure that staff employed have the necessary skills to carry out their tasks.|
|4.||To do the utmost to avoid conflicts of interest and, where they do arise, to deal with them openly, fairly and promptly.|
|5.||Not to discriminate unfairly in any dealings.|
As a commercial agent practising in the UK, you have a duty to comply with a number of standards, official codes and ethical codes. There are also membership requirements for each redress scheme. These include:
- Real Estate Agency Code;
- Real estate agency and brokerage standards (RICS, 2011, incorporated within this guidance);
- requirements of the Property Ombudsman;
- requirements of the Ombudsman Services: Property; and
- Royal Institution of Chartered Surveyors (RICS) Rules of Conduct for Firms, Rules of Conduct for Members and the 12 ethical principles.
The specific code that applies to you will depend upon your professional body or redress scheme membership.
This chapter also provides specific guidance that will help commercial agents operating in the UK towards meeting the relevant requirements of the legislation summarised in chapter 10. You can read more about these Acts and Regulations in the specific sections listed below.
RICS professional guidance
- Code of measuring practice
- Commercial real estate agency standards
- New rules of measurement
- QS and construction standards
- Residential property standards
- Valuation standards
- Full list of RICS professional guidance
- isurv guidance archive