Why Realtors are bound by a Code of Ethics

Although the subject of ethics may seem better suited to philosophers or lawyers, in reality most people deal with ethical decisions every day. In the business of real estate, which is based frequently on relationships of trust and cooperation, the need to practice honestly and ethically is extremely important. Real estate practitioners help people make decisions about the largest asset most will ever own. When buying or selling real estate, people are trading much of their financial worth that they have accumulated over many years. In addition to the large financial investment, there is often an emotional investment as well. They have lived in the property they are selling. It is natural for a seller to develop a strong emotional attachment to the property. With such large amounts of money and emotion involved, the stakes are high. Any misconduct or unethical behaviour can be damaging to the seller, the buyer, the public, the real estate broker and salesperson, and to the real estate industry as a whole.

When completing a transaction, the real estate salesperson is placed in a position of trust. Consumers rely on their professional expertise, skills, knowledge, competence, and integrity. When a real estate practitioner acts unethically, public confidence is undermined, not just in the people involved, but in the industry as a whole.

Registrants in any province who become members of organized real estate have an obligation to act in accordance with the REALTOR® Code. This Code outlines the accepted standard of conduct for all real estate practitioners who are members of a real estate Board or a provincial Association.

Whether you work as a broker, salesperson, or property manager, or in any other area of the real estate industry, support of a high level of professional conduct reduces legal exposure and liability, and can result in better service for clients and customers. That in turn helps generate a public perception of professionalism in the real estate business.

As a member of organized real estate, you have agreed to abide by the REALTOR® Code and the detailed Articles and Interpretations that accompany the Code.

Published in Realtorlink.ca January 2015

Anna Lisa Ferreri

Anna Lisa Ferreri

Sales Representative
CENTURY 21 United Realty Inc., Brokerage*
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