Ethics should be at the core of any businesses. In the real estate contracts, real estate agents sign a disclosure that they should exercise utmost care, honesty, loyalty, and integrity in business. The National Association of Realtors implements 100-year old Code of Ethics (www.realtor.com). In addition, the prevailing real estate legislations in the country mandate real estate agents to act in accordance with ethics. Real estate ethics give agents and the real estate industry a good name.
5 Real Estate Ethics to live by every real estate agent
- Do not insist a particular geographical area to clients. It is unethical to steer clients away or toward a certain neighbourhood. Real estate buyers have the right to choose their location.
- Do not burn bridges with other brokers and agents. It is unethical to continue disagreement with other professionals in the real estate industry. More so, it is wrong to avoid doing business with other agent.
- Do not sell overpriced properties. As an agent, overpriced properties are advantage. However, there should be a concrete explanation as to why certain properties are overpriced. Agents and brokers must show comparative market analysis to justify the prices.
- Show all the available properties. Most agents viewed that properties with lower commission are not worth their time. However, agents should put first client’s interest than themselves. It is unethical to hide properties from buyers simply because of lower commission.
- Employ strong communication. Strong communication includes integrity and honesty. In the real estate industry, agents and brokers should establish strong communication with buyers through the buying and selling process.
Real estate ethics are the core of real estate practice
These ethical practices help real estate agents serve their clients exceptionally, improve reputation and bring referral and repeat in business. Real estate agents must maintain these real estate ethics on a daily basis.
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