Ethics: Use in the Industry.

Oct. 20th 2010

The law states that a real estate agent must perform his/her duties ethically. To conduct business ethically, you must know the definition of ethical behavior. An ethical person has morals, integrity and good, strong character. A good way to help you stay on ethical path is to remember the “Golden Rule”. There are a few versions;

“ Do onto others as you would want done onto you.”

“Treat others as you want to be treated.”

“Think of the good of others before thinking of the best option for yourself.”

Different phrases all pointing to the same thing. Treat someone with kindness and consideration.

The law gives further guidelines for ethical behavior. The Sherman Anti-Trust Act prevents monopolies. The Fair Housing Act prohibits discrimination against any race, color, religion national origin, economic status and disability from buying, renting or leasing a property.

As with any law, there are consequences for unethical behavior. Fines, suspension or revocation of real estate license are just some of the possibilities. Making sure you understand the law and operate ethically is the best way to avoid any possibility of lawsuits.

 

Other Aricles:

Residential Real Estate or Commercial Real Estate, which is right for you?

The importance of understanding Real Estate forms

Trust Funds

Fair Housing For All

An agents responsibility to disclose.

Consumer Financial Protection Bureau

The Benefits of Online Real Estate Schools

Continuing Education for the California Real Estate Agent

Choosing a California Real Estate Broker

Selling strategies to get a home sold