Real Estate Ethics is a group of codes and norms that serve as a path for all realtors to follow during their daily work. It is these laws and morals that will tell you what these professionals should or should not pursue in their careers, so that they are ethical people.
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we already have an idea of what these Real Estate Ethical laws and regulations mean, but the moral values that are part of this profession are divided into several other parts.
There is a specific law for the area:
DECREE No. 81.871, OF JUNE 29, 1978.
It also has a decree:
DECREE No. 81.871, OF JUNE 29, 1978.
And last but not least, the real estate area has a code ethical professional’s broker’s real estate, which is set in RESOLUTION-COFECI No. 326/92.
These professional ethics dictate how real estate agents should behave across the country, characterizing this work and all the rules that professionals will need to follow when exercising the profession.
Real estate ethics in law
The real estate code of ethics (or realtor code of ethics, as it is also known in the area) aims to create a direction for the worker while he is exercising the function, prioritizing matters of interest to the people who contacted him, with this he must ensure the prestige of his class and develop and improve the techniques of real estate transactions.
There in Art. 3 of RESOLUTION-COFECI N. º 326/92. , It is clear the importance that the code gives the broker properties do not make mistakes that will be serious for the performance of the function. Actions that compromise your dignity, including honesty as the main point of all ethics is the most reinforced point.
Check out the complete Art. 3: “Art. 3rd – It is incumbent upon the Realtor, in relation to the exercise of the profession, the class and colleagues: I – to consider the profession as a high title of honor and not to practice or allow the practice of acts that compromise their dignity; II – honor professional associations, contributing whenever requested, to the success of their initiatives for the benefit of the profession, professionals and the community; III – maintain constant contact with the respective Regional Council, seeking to improve the work of this body; IV –
ensure the existence, purposes and prestige of the Federal and Regional Councils, accepting mandates and duties entrusted to them and cooperating with those invested in such mandates and duties; V – observe the postulates imposed by this Code, exercising its duty with dignity; VI – exercise the profession with care, discretion, loyalty and honesty, observing the legal and regulatory requirements; VII – defend the professional rights and prerogatives and the reputation of the class; VIII – look after one’s reputation even outside the professional practice; IX –
assist in the supervision of professional practice, ensuring compliance with this Code, disclosing, with discretion and fundamentally, to the competent bodies, the infractions of which it is aware; X – don’t talk contemptuously about your colleagues; XI – relate to colleagues, within the principles of consideration, respect and solidarity, in line with the precepts of harmony of the class; XII – to be aware of current legislation and seek to disseminate it so that the legitimate exercise of the profession is respected and defined.”
What is prohibited in real estate ethics?
The Real Estate Code of Ethics makes it very clear that it prohibits the worker from receiving tasks that they do not know how to perform or work that is not within Brazilian law, and the realtor is aware that this practice is a fraud.
Another point that the Code prevents is that the broker receives overpriced amounts or that he knows that he did not perform the function, but still accepts to be paid for the services. Unfortunately, there are cases of workers charging clients for services they did not perform. This practice is abhorred by the Real Estate Code of Ethics.
Finally, the Code does not allow professionals to abandon their clients in the middle of a real estate transaction. In some cases, the realtor, seeing that they are not going to profit much from the venture, leave the clients aside and abandon them.
The conclusion of this part is that real estate ethics is not only important for the professional, but for everyone.
If you are a realtor respects all real estate ethics, do everything within the law and do not deceive your clients, know that along the way this will bring you some things that are much better than profit: customer loyalty and you being good seen across the market.
I hope this summary on real estate ethics has helped you or helps you in your profession in the future.