What are the ethical obligations of a
REALTOR®?
I believe that my clients should be aware of how I do
business. As a professional in the Real Estate industry, I prepared this
document stating my values for all to read. I also promote these ideals to
others within the industry. -- Frank
As
Realtors and members of the Calgary Real Estate Board, we are constantly
faced with decisions that must be made on a framework of ethics. We maintain and
continually strive to improve our professional standards and ethical awareness
by:
- committing
to protect the public against fraud, misrepresentation or unethical practice
in connection with real estate transactions;
- keeping
informed of developments and trends in real estate;
- rendering
services and opinions based only on our knowledge, training, qualifications
and experience in real estate; and
- promoting
our value without disparaging the reputation of other Realtors.
MY
COMMITMENTS TO CLIENTS AND CUSTOMERS:
- I
aim to be informed regarding the essential facts that affect current
market conditions, in order to be in a position to counsel clients
and/or to assist customers responsibly.
- I
protect and promote the interests of my client. However,
this primary obligation does not relieve me of the responsibility to
deal fairly with all parties to the transaction.
- I fully
disclose in writing and seek written acknowledgement by way of a disclosure
from all parties involved in a transaction regarding the role and the nature
of service that I provide clients versus the customers or other
party to the transaction. I also disclose our role to REALTORS involved
in the transaction.
- When I
agree to represent a property, any discovery of information
will help me in my obligation to avoid error, misrepresentation or
concealment of pertinent facts.
- I prefer
written representation agreements whenever possible in
order to ensure clarity and avoid misunderstandings with clients and
customers.
- I ensure
that agreements regarding real estate transactions are in writing in clear
and understandable language, expressing the specific terms,
conditions, obligations and commitments of the parties to the agreement.
A copy of the final agreement is delivered to each party upon their signing
or initialing. The agreement is dealt with in accordance with the
instructions of the parties involved.
- Prior
to the signing of any agreement, I fully inform the signing
party regarding the type of expenses for which
he/she may be normally liable.
- I do
not accept compensation from more than one
party to a transaction without the written consent the client(s).
- I disclose
in advance to a client or customer if there is any financial benefit
that I or my firm may receive as a result of recommending real
estate products or services to that party.
- I do
not accept any rebate or profit on expenditures made for a client
without the client’s consent or accept any rebate or profit on
expenditures for a customer without the customer’s knowledge.
- I prefer
that my clients use the services of other professionals
for their transaction, including legal counsel, legal survey and
professional home inspection services. I maintain a list of those whom I
believe work in the best interests of their clients.
- I do
not knowingly permit any property under my care to be used for unlawful
purposes.
- In
acquisition of property, I will not present an offer or acquire an interest
in property either directly or indirectly for myself, or any
member of my immediate family or any entity in which the I have a
financial interest, without making the my position as a REALTOR known to the
seller in writing. In selling/leasing property owned by the REALTOR, or in
which the REALTOR has an interest, the interest shall be revealed
to the buyer/tenant in writing.
- My
assessments of property value will be based on my
experience and training and I won’t give opinions where I'm
not confident in my ability to do so responsibly. It will be disclosed
to you if I have an interest in the outcome of your appraisal.
- All
offers and counter-offers will be presented to you as objectively
and quickly as possible.
- I honor
sellers’ wishes that a property not be advertised, and
will never offer your property for sale at any price other than what was
agreed upon together.
- I only
accept client assignments where I can capably perform
the duties required. If something is outside of my scope of experience, I
will decline to represent you.
- Any
advertising materials I prepare will show my name and
the name of my firm.
- All
of my clients are treated with individuality and respect,
regardless of age, gender, race, or creed.
- I
am a proud member of the Canadian Real Estate Association
and abide by all its rules and guidelines for ethical
practices.
- My business
is conducted in accordance with all provincial and federal laws.
- I take
no benefit from publicly discrediting any other REALTOR.
- I respect
the agreements between other REALTORS and their clients, and will
not speak directly with their clients unless the REALTOR has given
us permission to do so.
- At
no time will I encourage any party to breach a signed contract.
- My dealings
are transparent
and I willingly offer any required information that is required in a
disciplinary investigation of my practices or those of another REALTOR.
- If
a dispute occurs
with another REALTOR regarding fees, I submit the facts to the
appropriate Board or Association for impartial arbitration.
- I feel
my clients’ interests are best served when I deal fairly and
respectfully with all parties in a transaction and strive to avoid
controversy.
Your
trust in me is the greatest compliment. Please don't hesitate to put me in
contact with friends or family whom I could assist with my services.