is the land. Upon its wise utilisation and widely spread ownership depend
the survival and growth of free institutions and of our civilisation.
Members of the Real Estate Industry Association should recognise that
the interests of the nation and its citizens require the highest and best
use of the land. Members should also require the creation of adequate
housing, the building of functioning cities, the development of productive
industries and farms, and the preservation of a healthful environment
as a National Priority.
and take steps, through enforcement of this Code of Ethics to eliminate
practices which may damage the public or which might discredit or bring
dishonour to the real estate profession. Members of the Association and
the Public having direct personal knowledge of conduct that may violate
the Code of Ethics involving misappropriation of client or customer funds
or property, wilful discrimination, or fraud resulting in substantial
economic harm, are asked to bring such matters to the attention of the
Committee of the Real Estate Industry Association.
As an industry Association the Real Estate Industry Association is responsible for encouraging the highest ethical standards among its members. Members of the Association are responsible for conducting business in a manner that will uphold and enhance the reputation of the real estate profession, and as such, abide by the Real Estate Industry Association Code of Ethics below:
Article 1. Loyalty to the Association
In the best interests of the public, the Association, and its Members, a Member must always be loyal to the Association and must never publicly criticise a fellow Member. No instructions or inducements from any person will relieve Members of their responsibilities to strictly observe this Code of Ethics.
Article 2. Complaints & Disputes to be Submitted to the Association
2.1 Members must conduct their business so they minimise controversies and avoid conduct that demeans the Association or is contrary to good agency practice. In all dealings, Members must treat each other in a manner that does not disadvantage existing negotiations and with strict professional conduct and integrity.
2.2 A complaint or dispute between Members should be submitted to the Association for adjudication in accordance with the Constitution, Rules and By-Laws of the Association.
2.3 When a Member is charged with unethical practice, the Member must provide all relevant facts and documents to the Association for investigation and judgment.
Article 3. Professional Courtesy
3.1 If a prospective customer expresses interest to a Member in a property previously inspected with another Member, the Member must treat that other Member with mutual respect.
3.2 Members must take steps appropriate to the circumstances to ensure that their actions are in accordance with those outlined in Article 2.1.
3.3 In addition, to be awarded commission totally or in part, a Member must have contributed effectively to the transaction.
Article 4. Inducements
Where a Member has entered into an agency contract or appointment, other Members must neither induce nor attempt to induce a breach of or interference with that arrangement.
Article 5. Conjunctional Arrangements
5.1 Members should be willing to act in conjunction if it is in the client's best interest.
5.2 The basis of conjunction on which the Members will operate must always be confirmed in writing. A conjunction, once established, will be irrevocable unless the listing agent's authority is terminated by the owner.
5.3 Negotiations under a conjunctional arrangement must be conducted through the listing agent.
Article 6. Controlled Agency
6.1 Where a Member secures an agency appointment over a property or property management previously listed with another Member, the Member must take appropriate steps to ensure that the previous Member is notified of that appointment.
6.2 A controlled agency appointment must be respected by all Members.
Article 7. Confidentiality
It shall be unethical for a Member to reveal any information without the client's authority.
Article 8. Agent to Act Fairly
In accepting an agency, a Member pledges to protect the interest of the client as the Member's first responsibility. Additionally the Member should be fair to the customer.
Article 9. Agent Responsible for actions of Employees
Members will, at all times, be responsible for the actions of their employees in their business relations with Members, clients and customers, in accordance with this Code of Ethics.
Article 10. Non-Portability of Information
When a Member recruits a new employee it shall be unethical for the Member to use the business information that is the property of the previous employer.
Article 11. Duty to Ascertain Facts
It is the duty of a Member to act professionally and to ascertain all available pertinent facts concerning the property accepted under an agency so that, in offering the property, the Member may avoid error, exaggeration, concealment or misrepresentation.
Article 12. Protection Against Misrepresentation/Offensive Behaviour
It is the duty of every Member to protect the public against fraud, misrepresentation, offensive behaviour or unethical practices in real estate transactions.
Article 13. Signs
A Member placing a sign on a property must ensure that:
13.1 The authority of the owner and relevant government authorities, as applicable, has been given and that the sign does not obscure another Member's sign.
13.2 Other signs are not interfered with except by the owner's instruction with all reasonable steps being taken to preserve the removed sign/s.
means a listing controlled or otherwise or property management appointments.
Estate Industry Association Inc
Copyright © 2002 Real Estate Industry Association - Papua New Guinea. All rights reserved.