Accreditation of International Real Estate Professionals

The AIREP code of conduct

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1 General

  1. In the execution of their profession, Accredited International Real Estate Professionals shall behave correctly, honestly and with the utmost integrity, both when dealing with the general public or with other property professionals.
  2. The duties imposed by this Code of Conduct encompass all real estate-related activities and transactions whether conducted in person, electronically, or through any other means.
  3. Accredited professionals shall not deny equal professional services to any person for reasons of race, colour, religion, sex, handicap, familial status, or national origin.
  4. Accredited professionals shall not be parties to any plan or agreement to discriminate against a person or persons on the basis of race, colour, religion, sex, handicap, familial status, or national origin.
  5. The services which Accredited professionals provide to their clients and customers shall conform to the standards of practice and competence which are reasonably expected in the specific real estate disciplines in which they engage.
  6. Accredited professionals shall not themselves, or through associates, or through fully or partly owned enterprises, trade in real estate on a speculative basis.
  7. Accredited professionals shall refrain from misleading statements and exaggerated claims in all of their professional dealings.
  8. Accredited professionals shall adopt a free and independent position in the execution of their professional activities.
  9. Accredited professionals must not give advice or make recommendations on matters or in areas beyond their competence.

2 Instruction / Sales / Transactions

  1. Accredited professionals shall not accept sales instructions which conflict with the laws and regulations of the country in which they are established / operate or with this Code of conduct.
  2. On receiving a sales instruction, accredited professionals are obliged to make the necessary inquiries concerning the object of the instruction.
  3. Accredited professionals shall avoid exaggeration, misrepresentation, or concealment of pertinent facts relating to a property or transaction. Accredited professionals shall not be obligated to discover latent defects in a property, to advise on matters outside the scope of their competence, or to disclose facts which are confidential under the scope of agency or non-agency relationships.
  4. Accredited professionals must make clear to all parties their position and whose interests they represent.
  5. Accredited professionals should not accept instructions in which they may have an economic interest beyond the claim for compensation for fulfilling the instruction.
  6. In a transaction, accredited professionals shall not accept compensation from more than one party, even if permitted by law of the country in which they operate, without disclosure to all parties and the informed consent of the their client or clients.
  7. The parties instructing the accredited professionals must be informed clearly and unambiguously, about any self-interest the accredited professional may have beyond the compensation for fulfilling the instruction.
  8. An accredited professional may represent the seller/landlord and buyer/tenant in the same transaction but only after full disclosure to and with informed consent of both parties.
  9. If an accredited professional offers for sale a property that they own personally then this must be made clear to all interested parties.
  10. Accredited professionals should not oblige potential buyers to sign binding preliminary purchase contracts nor to compromise themselves financially by paying non returnable deposits or reservations. Before signing any contract potential buyers should be given reasonable opportunity to reflect and to obtain legal advice.
  11. Accredited professionals shall submit offers and counter-offers objectively and as quickly as possible.
  12. Within the framework of the law and to the best of their ability, accredited professionals have the duty to protect the interest of all intervening parties, irrespective of which made the instruction.
  13. Where necessary, accredited professionals shall keep in a special account in an appropriate financial institution, separated from their own funds, monies coming into their possession in trust for other persons, such as escrows, trust funds, clients' monies, and other like items.
  14. Accredited professionals may not accept such a high number of instructions that it adversely affects the professional standard of their work.

3 Confidentiality

  1. Accredited professionals must at all times preserve confidential information provided by their clients.
  2. The obligation of accredited professionals to preserve confidential information provided by their clients, in the course of any professional relationship, continues even after that relationship ends.
  3. Accredited professionals must not use confidential information of clients to the disadvantage of same.
  4. An accredited professional must not use clients confidential information for their own, or third party advantage, unless:
    1. clients consent after full disclosure; or
    2. accredited professionals are required by court order; or
    3. it is the intention of a client to commit a crime and the information is necessary to prevent the crime; or
    4. it is necessary to defend an accredited professional or the accredited professionals employees or associates against an accusation of wrongful conduct.

4 Legal

  1. Accredited professionals must comply with the laws and regulations relating to real estate professionals in force within the country in which they are established or operate at any given time.
  2. Accredited professionals shall not engage in activities that constitute the unauthorised practice of law and shall recommend that independent legal advice be obtained when the interest of any party requires it.
  3. Accredited professionals will be directly responsible for the actions of their employees.

5 Relations between Accredited professionals and AIREP

  1. Accredited professionals shall abide by this Code of Conduct and with all rules and regulations made by AIREP.
  2. Accredited professionals shall respond promptly to all correspondence from AIREP.
  3. All accredited professionals and particularly "qualified" and "qualified expert" will notify AIREP of any changes to their professional status or changes to the professional status of their employees, especially when those changes mean that they may no longer meet the requirements for Accreditation.
  4. Upon request by the AIREP, accredited professionals will provide copies of any document relating to their dealings with any other person, or their business practices, which in the opinion of the AIREP may be necessary, in order to establish the accredited professionals compliance with his obligations under this code and other AIREP regulations.

6 Breach of code

  1. If any dispute arises between an accredited professional and any seller, buyer or other customer, the accredited professional shall notify them as to the existence of this code of conduct and supply them with a copy of it.
  2. If the seller, buyer or other customer believes that the accredited professional has violated this code of conduct and wishes to contact and advise AIREP of this, then the accredited professional shall promptly supply them with AIREP's full contact details.
  3. If charged with breaking this code of conduct, or asked to present evidence, or to cooperate in any other way in any investigation to determine compliance with this code, accredited professionals shall place all pertinent facts and information before AIREP.
  4. Accredited professionals shall not make any unauthorized disclosure or dissemination of the allegations, findings, or decision developed in connection with a compliance investigation.
  5. Accredited professionals shall not obstruct investigative proceedings by instituting or threatening to institute actions for libel, slander or defamation against any party involved in a compliance investigation.
  6. Accredited professionals agree that during a compliance investigation it will be AIREP who interpret this code of conduct and its contents.
  7. Accredited professionals agree that failure to comply with this code of conduct will result in their loss of accreditation.

This Code of Conduct shall not limit any greater rights that accredited professionals might enjoy under local law or otherwise.  

 

Click here to report a violation of this code of conduct or unprofessional behaviour by an AIREP accredited professional