Why are ethical values important in real estate?

Why is Ethics important in real estate?

The REALTOR®’s code of ethics is extremely important to buyers and sellers of real estate properties, as it protects their interests and ensures that the REALTOR® hired will try to represent them in the best way possible.

What is Ethics in real estate?

Ethical behaviour relies not only on complying with rules, but by using values and virtue to guide us through decision making. This Code is designed to be a guide for real estate professionals to meet and surpass the needs of clients and the community by being recognised as a trusted profession.

Is real estate ethical?

In challenging economic times, it may seem easy to label “good guys” and “bad guys” in a real estate transaction, but the reality is that real estate continues to be one of the most ethical forms of investing, providing much-needed property for people to live, work, eat, and play across the globe.

Why honesty is important in real estate?

The most important part of this relationship is honest communication between the seller and real estate agent. … This only strains the seller-agent relationship and makes the whole transaction more unpleasant than it needs to be.

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What are the 7 principle of ethics?

There are seven principles that form the content grounds of our teaching framework:

  • Non-maleficence. …
  • Beneficence. …
  • Health maximisation. …
  • Efficiency. …
  • Respect for autonomy. …
  • Justice. …
  • Proportionality.

What are the 8 ethical principles?

This analysis focuses on whether and how the statements in these eight codes specify core moral norms (Autonomy, Beneficence, Non-Maleficence, and Justice), core behavioral norms (Veracity, Privacy, Confidentiality, and Fidelity), and other norms that are empirically derived from the code statements.

Is there a code of ethics for realtors?

REALTOR® Code of Ethics

The Code establishes a standard of conduct, which in many respects exceeds basic legal requirements. This standard ensures that the rights and interests of consumers of real estate services are protected. As a condition of membership, all REALTORS® agree to abide by the Code.

Is Keller Williams ethical?

Extensive training reflects the company’s commitment to help its associates reach their full potential. Our survey found evidence of an exceptionally strong culture with little variation across market centers. 6 Associates of Keller Williams describe the company culture as ethical and one that fosters collaboration.

Which rule should Realtors use as a guide for making ethical decisions?

In the interpretation of this obligation, REALTORS® can take no safer guide than that which has been handed down through the centuries, embodied in the Golden Rule, “Whatsoever ye would that others should do to you, do ye even so to them.”