Specific rules and regula- tlons covering a REALTOR's conduct are contained in the Codes of Ethics and Stan- dards of Business Practice adopted by local real estate boards, and also in the stan- dardized Code of Ethics of the Canadian Real Estate Code, national organization for REALTORS in Canada, A general overview of the practice standards is covered here to help make the general public aware of what consti- tutes proper conduct by real estate practitioners. REALTORS may charge a fair and reasonable fee for services. but may not accept compensation from more than one party to a transac- tion unless this has been agreed to by all those in- volved. and is clearly set down In writing. Real estate licensees are expected to protect and promote the interests of their clients, and to be informed about essential facts, public policies or laws which might affect market conditions and, as a sesult the client's trans- action. ; REALTORS are obliged to counsel their clients in a re- sponsible manner. and also to reveal any pertinent facts concerning a property to cus- tomers. Concealing or mis- representing facts are clearly not acceptable, Licensees may not acquire an interest in a property or evaluate a property in which she has an interest unless that interest has been fully and completely disclosed to all clients or customers. In carrying out their real es- tate services, licensees must express all facts and financial obligations pertinent to a property on a listing agree- ment, and ensure that a cus- tomer’s offer is fully and completely explained: in the Contract of Purchase and Sale (offer) so no misunder- standings can arise at a later date. Real Estate Board members must adhere to truthful ad- vertising practices, always identify themselves as real es- tate salespersons, and also the firm that employs them. They should ensure that all written contractual arrange- ments are properly prepared, and shall advise the use of le- gal counsel when the interest of any party to the transac- tions appears to require it. All written offers on a property must be presented to the owner as soon as possible, and should also be accompanied by a deposit which should not be less than 5% of the offered price. These deposit funds are kept in a separate bank account as "Trust Funds" and specifically designated as a "Trust Ac- count" so it Is apparent the monies do not belong to the real estate company. Board members agree to never publicly criticize a com- petitor, and maintain strict professional courtesy and in- tegrity. They agree to conduct their business in accordance with the terms of the Real Estate Act and Regulations of the Province of British Columbia and to take ail rea- sonable and proper steps to ensure that no person with whom they or thelr office is dealing in a real estate matter suffers any financial loss or is put to any trouble or incon- venience as a result of care- fess or incompetent actions. There are more specific ar- ticles to the Code and Stan- dards, but this overview is provided to show that the welfare of the public is of great concern to the real es- tate industry. While the rules hold all RE- ALTORS to a high standard of conduct and performance, as In any field where people are employed, sometimes the Realtors’ down rules of conduct performance is less than ex- pected, If a problem arises during a transaction, the first one you should advise is the licensee him or herself. The next person a client.should call is the manager of the salesperson with whom they are working. Finally, if your grievance is not addressed te clients and customers, and a_ Cipline licensee for serious in- your satisfaction you could happy transaction could result fractions. RUAN REMAN REAM REAIK REAM REMC REMI -REAAK REAAK REA REAM What 110% effort looks like in future business through re- ferrals. For the few circum- stances where dissatisfac- tions cannot be addressed by the individual or company concerned, there is machinery in place at the local Board or through the Real Estate Counsel to address and dis- lodge a written complaint with the Business Practices Committee of Real Estate Board of Greater Vancouver, The majority of transactions carried out in any given year are done satisfactorily, A RE- ALTOR's livelihcod depends on how well they serve their THE : . 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