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Standards of Business Practice

CODE OF ETHICS

Under all is the land. Upon its wise utilization and widely allocated ownership depend the survival and growth of free intstitutions and of our civilization. Through the Member the land resource of the nation reaches its highest use and private land ownership its widest distribution.

The Member is instrumental in molding the form of his community and the living and working conditions of its people. Such functions impose grave social responsibilities which the Member can meet only by diligent preparation, and considering it a civic duty to dedicate himself to the fulfilment of his obligations to society.

The Member therefore must be zealous to maintain, and continually strive to improve, the professional standards of his calling: By keeping himself informed as to developments and trends in real estate, By endeavouring to protect the public against fraud, misrepresentation or unethical practice in connection with real estate transactions, By rendering his services and opinions based only on his knowledge, training, qualifications and experience in real estate, by seeking no unfair advantage over, nor injuring directly or indirectly the reputation of, nor publicly disparaging the business practice of, his fellow members, and By being loyal to his Real Estate Board and Provincial Association and active in their work.

In the interpretation of his obligations, he can take no safer guide than that which has been embodied in the Golden Rule- "Do unto others as you would have them do unto you".

No inducement of profit and no instructions from clients can ever justify departure from the ideals of fair dealing and high itegrity resulting from adherence to a lofty standard of moral conduct in business relations. Accepting this standard as his own, every Member pledges himself to observe the spirit of the Code in all his dealings and to conduct his business in accordance with the Standards of Business Practice as adopted by the Canadian Real Estate Association.

ADVERTISING CODE OF ETHICS

The Canadian Real Estate Association (CREA) Code of Ethics and Standards of Business Practice addresses advertising standards. Article 18 requires special mention and reads as follows: "Realtors shall ensure a true presentation in all advertising. Properties and services shall not be advertised without identifying the firm or, where applicable, the individual practitioner, in accordance with provincial licensing legislation."

AGENCY DISCLOSURE & THE CODE OF ETHICS

Members are required to fully disclosure the existence and nature of a member's agency relationship. Effective January 1,1995, the CREA Code of Ethics was revised with a subsequent change in April 1995.

Article 3 now reads:

"The REALTOR shall fully disclose in writing to, and is advised to seek written acknowledgement of disclosure from, all parties to a transaction regarding the role and the nature of service the REALTOR will be providing to the client versus the customer or other party to the transaction. The REALTOR shall also disclosure his or her role to other REALTORS involved in the transaction."