Real Estate the Ethical Way

Ethics in Real Estate

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When looking for a realtor to assist in these seminal and financially important decisions, being safe in the knowledge that any such help or counsel will be trustworthy is imperative. Essentially, when a person is looking to secure the services of a real estate professional, we are selling ourselves well before we are selling the home. Sadly, as with other professions, when one rotten apple is found to be in the basket, the entire basket is sometimes perceived to be equally nefarious.

It has been said that it takes years to build a reputation and mere moments to damage or destroy it. Thankfully, my experience over the years tells me a positive story, full of realtors who are proud of their integrity and cherish the code of ethics which guides, and is fastidiously observed by members of the real estate profession.

Real Estate the Ethical Way [Bob Hunt] on *FREE* shipping on qualifying offers. This clear, easy-to-read book describes and evaluates behaviors. It requires considerable trust in the real estate professionals who guide What is the best way for real estate agents to avoid facing an ethics.

For home buyers and sellers, our code of ethics is a point of reference, as well as a statement which outlines the integrity of the profession. It has been said that moving home is one of the most stressful life events, so for us, it is both personally and professionally important for our clients to have confidence in our business, our practices and our ethics.

To anyone who has no experience with or is somehow nervous about dealing with a real estate agent, having a code of ethics is highly reassuring. My profession is something of which I am proud and ultimately, it is all about helping clients find their dream home, their ideal residence, or their first real property. The code of ethics within the real estate world goes beyond honesty and integrity.

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Though such things are important and clients always need to be given the courtesy of these things, professional practices are important for the internal well-being of the profession, something which leads to a greater confidence for clients. Previously, Stefani had worked at The Heddings Property Group from to where she specialized in residential leasing and sales of Condominiums, Cooperatives and Townhouses in Manhattan. She then joined The Modlin Group in and focused on the luxury real estate market.

5 Ethical Dilemmas in Global Real Estate

In addition, Stefani ran the sales office of a Condominium conversion project in Chelsea. Whether working with Manhattan locals or international clientele, she draws on her extensive knowledge and broad sphere of influence to close transactions and ensure successful results. After graduating with honors from the University of Michigan, Stefani returned to her roots in New York City and immediately was drawn to the real estate world.

She is an avid tennis player, and enjoys dance, theatre, and fashion. Your email address will not be published. Save my name, email, and website in this browser for the next time I comment. This site uses cookies. By continuing to browse the site, you are agreeing to our use of cookies.

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In , the UN drafted voluntary guidelines as a reference for businesses that outlines, among other things, responsible land purchase practices when working abroad. This led to a slew of legal suits and the formation of organizations such as the Fair Labor Association FLA , which helps set standards through its Code of Ethics.

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This organization provides support and guidance to companies and workers around the world, doing business overseas, and holds companies accountable by monitoring and reporting on their working conditions. Property developers, international real estate investors, and construction companies that work outside U.

In , the FLA reported that Turkish companies were paying Syrian refugees below minimum wage because they lacked work permits and were desperate to earn money for their families 3. American real estate professionals doing business in other countries should familiarize themselves with labor standards set forth by the International Labor Organization, as well as the Foreign Labor Act. Property developers, investors, and managers face ethical dilemmas when laws governing pollution, waste, and contamination are looser than they are in their home countries.

According to data reported by the World Health Organization 5 , Pakistan, Afghanistan, Bahrain, Senegal, and Qatar are the five worst polluted countries. Dense urban populations, lack of emissions controls, and air traffic are among the contributors to air pollution. It is best to take heed of cultural customs practiced in your country that may not align with other cultures, and exclude them from all business and social interactions.

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If ignored, dilemmas can manifest in many ways. If cultural preparations are not made in advance, a lack of awareness on both sides can lead to misunderstandings or worse, irreparable issues that doom a project. Global real estate developers should consult trusted advisors familiar with the business customs of other cultures to ensure compatibility is working for, not against their investment.