28/06/2012   www.vallartanayaritmls.com   1
COMPREHENSIVE                                   TRAINING,    FORMATION                                    EDUCATION      T...
WHY A CODE OF ETHICS?28/06/2012         www.vallartanayaritmls.com   3
Code of Ethics                                In Real Estate ‘Interests’ are                                     usually m...
Code of Ethics             PREVENT HARM, DAMAGE OR LOSS                                    Damages:                       ...
Code of Ethics                      Demonstrate Good Morals &                       Values                      Remember...
Code of Ethics                                Articles…28/06/2012        www.vallartanayaritmls.com               7
Code of Ethics                                Art. 9              Implies that the Real Estate Professional is           ...
Code of Ethics                                   Art. 9 The Real Estate  Professional should  not engage in  transactions...
Code of Ethics                                    Art. 1 & 2 It’s our duty to constantly  update ourselves about our  pro...
Code of Ethics                                 Art. 13 -15, 17-18               Consent & Confidentiality Advertise prope...
Code of Ethics                                    Art. 6 y 8               Documentation: Keep Records Everything should ...
Code of Ethics                         Art. 4 y 7   Always Be Truthful Do not exagerate the  qualities of a property Do ...
Code of Ethics                         Art. 4 y 7             Avoid Mistakes: Due Diligence Get to know the property befo...
Code of Ethics28/06/2012     www.vallartanayaritmls.com   15
Code of Ethics                         Art. 3 y 5 Protect, Prevent & Report                               Don’t carry out...
Code of Ethics28/06/2012     www.vallartanayaritmls.com   17
Code of Ethics                                    Art. 10          Disclose Everything Always Keep the client informed D...
Code of Ethics                      Honoraries 11                                                  Art.               Fees...
Code of Ethics                                 Art. 12 & 16 Professional Opinions are Based on Data & Experience Opinions...
Code of Ethics                                   Art. 12 & 16Professional Opinions are Based on Data & Experience Never i...
Code of Ethics28/06/2012     www.vallartanayaritmls.com   22
Code of Ethics                                     Art. 19,24,25                Sharing and Ethical Conduct We are obliga...
Code of Ethics                                   Art. 19,24,25              Courtesy and Ethical Conduct Do not ask the e...
Code of Ethics                                Art. 19, 24, 25              Conflicts Between Professionals: Refrain from ...
Code of Ethics                                      Art. 19, 24, 25 Seek asstance from AMPI national if there are  accusa...
28/06/2012   www.vallartanayaritmls.com   27
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AMPI: Code of Ethics in Mexican Real Estate 2012

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AMPI Education Course from June 2012: Why Ethics matter in

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AMPI: Code of Ethics in Mexican Real Estate 2012

  1. 1. 28/06/2012 www.vallartanayaritmls.com 1
  2. 2. COMPREHENSIVE TRAINING, FORMATION EDUCATION TO DIGNIFY CODE OF OUR ETHICS, LAWS, PROFESSION PRACTICES PROTECTION OF PRIVATE PROPERTY28/06/2012 www.vallartanayaritmls.com 2
  3. 3. WHY A CODE OF ETHICS?28/06/2012 www.vallartanayaritmls.com 3
  4. 4. Code of Ethics In Real Estate ‘Interests’ are usually measured in financial terms on both sides of the transaction28/06/2012 www.vallartanayaritmls.com 4
  5. 5. Code of Ethics PREVENT HARM, DAMAGE OR LOSS Damages:  Loss of money  The disproportionate profit from or extreme loss to one party due to: ignorance, lack of skills or being28/06/2012 www.vallartanayaritmls.com uninformed 5
  6. 6. Code of Ethics  Demonstrate Good Morals & Values  Remember that Real Estate is a ‘Service’  Make Real Estate Education and Training a priority28/06/2012 www.vallartanayaritmls.com 6
  7. 7. Code of Ethics Articles…28/06/2012 www.vallartanayaritmls.com 7
  8. 8. Code of Ethics Art. 9  Implies that the Real Estate Professional is committed to promote and protect the Client’s interest.  Implies an obligation of loyalty toward those who have put their trust in the Real Estate Professional.  This duty is of capital importance: as the necesity to act in absolute fairness and honesty with all parties involved in a transaction is implied.28/06/2012 www.vallartanayaritmls.com 8
  9. 9. Code of Ethics Art. 9 The Real Estate Professional should not engage in transactions that, could cause harm to the interests of the contracting parties, to a third party or to a fellow professional. 28/06/2012 www.vallartanayaritmls.com 9
  10. 10. Code of Ethics Art. 1 & 2 It’s our duty to constantly update ourselves about our profession. It’s our duty to be informed and updated about real estate news: local and national It’s our duty to inform the public about what we know. 28/06/2012 www.vallartanayaritmls.com 10
  11. 11. Code of Ethics Art. 13 -15, 17-18 Consent & Confidentiality Advertise properties only with the consent of the owner Advertise other Agents’ listing only with their consent All offers must be in writing, all offers must be presented to clients Any discounts or rebates should be in favor of your clients Seek Listings to be Exclusive Be zealous about Confidentiality 28/06/2012 www.vallartanayaritmls.com 11
  12. 12. Code of Ethics Art. 6 y 8 Documentation: Keep Records Everything should be in writing: offers, listings, etc… Recording of agreements must be exact Give signed documents to all participating parties and keep one for your records Do not make false statement in deeds Do not make false statements before authorities 28/06/2012 www.vallartanayaritmls.com 12
  13. 13. Code of Ethics Art. 4 y 7 Always Be Truthful Do not exagerate the qualities of a property Do not hide reports about a property Be truthful in ads and publicity Be truthful in your conduct with other agents 28/06/2012 www.vallartanayaritmls.com 13
  14. 14. Code of Ethics Art. 4 y 7 Avoid Mistakes: Due Diligence Get to know the property before taking the listing or administration Review all Documents Related to the Property Visit the Property and Take Notes28/06/2012 www.vallartanayaritmls.com 14
  15. 15. Code of Ethics28/06/2012 www.vallartanayaritmls.com 15
  16. 16. Code of Ethics Art. 3 y 5 Protect, Prevent & Report  Don’t carry out transactions that would cause damage Always protect your clients clients, fellow professionals or others Always prevent fraud, abuse or unethical practices  Advise the National Council of such acts and practices Always prevent any action when seen which would harm the public Prevent acts that would damage the dignity and honorability of the real estate profession. 28/06/2012 www.vallartanayaritmls.com 16
  17. 17. Code of Ethics28/06/2012 www.vallartanayaritmls.com 17
  18. 18. Code of Ethics Art. 10 Disclose Everything Always Keep the client informed Do not oppose clients checking with other professionals or Notaries Disclose all circumstances around the business in question Disclose all qualities and defects of a property or transaction Tell Me Everything, Please. 28/06/2012 www.vallartanayaritmls.com 18
  19. 19. Code of Ethics Honoraries 11 Art. Fees & Comissions: Fair and Ethical Compensation must be fair for the work and knowledge provided by the Real Estate Professional Compensation should be based on a percentage or fixed amount Compensation should never be based on “overpricing” a property. 28/06/2012 www.vallartanayaritmls.com 19
  20. 20. Code of Ethics Art. 12 & 16 Professional Opinions are Based on Data & Experience Opinions should be based on Careful Analysis of Concrete data Do not state an opinion about a property in which the professional has a personal interest, or disclose this fact before making the opinion. In case the Professional has an interest in adquiring the property in question, they should request an independent opinion 28/06/2012 www.vallartanayaritmls.com 20
  21. 21. Code of Ethics Art. 12 & 16Professional Opinions are Based on Data & Experience Never issue an opinion of value on properties on which you have no experience If your client requests it, get an opinion from an experienced third party Advise your client of the above situation 28/06/2012 www.vallartanayaritmls.com 21
  22. 22. Code of Ethics28/06/2012 www.vallartanayaritmls.com 22
  23. 23. Code of Ethics Art. 19,24,25 Sharing and Ethical Conduct We are obligated to share our experience and knowledge with others. Cooperate with other collegues in sales efforts and distribute commissions as per agreements In exclusive listing situations: only deal with the listing agent never with property owner. 28/06/2012 www.vallartanayaritmls.com 23
  24. 24. Code of Ethics Art. 19,24,25 Courtesy and Ethical Conduct Do not ask the employee of another agent or broker to perform work for you without the consent of their employer. Do not accept an exclusive listing if it is still under contract to another RE Professional When an exclusive listing is passed from one agency to another you should advise the other agency. 28/06/2012 www.vallartanayaritmls.com 24
  25. 25. Code of Ethics Art. 19, 24, 25 Conflicts Between Professionals: Refrain from commenting on the actions of other Colleagues If your opinion is formally requested, your comments/opinions must be based on actual knowledge or first hand information. Always be professional In case of conflicts between members, present the issue to the Honor and Justice committee for Arbitration 28/06/2012 www.vallartanayaritmls.com 25
  26. 26. Code of Ethics Art. 19, 24, 25 Seek asstance from AMPI national if there are accusations of unethical Conduct Signage: Do not post signs to sell or to rent for more than one Real Estate Professional on a property When an exclusive listing agreement is signed with an agency: it is a commitment to work with that agency exclusively. EL PROFESIONAL INMOBILIARIOS debe ser legal a la organzición local, a sus compañeros y activo en su trabajo28/06/2012 www.vallartanayaritmls.com 26
  27. 27. 28/06/2012 www.vallartanayaritmls.com 27

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