Code of Ethics
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- The Real Estate Service Practice, an honorable profession, a calling to strive for excellence with the vital role in the social, political, economic development and progress of the country by promoting the real estate industry, stimulating economic activity, shall be developed and nurtured into a corps of technically competent, responsible and respected professionals, whose standards of practice shall be globally competitive. As such, real estate service practitioners are bound by a code of conduct, morals, and values in the performance of their duties and responsibilities to the public, their client, the government, fellow practitioners, and associations.
- Therefore, it is essential, imperative and necessary to adopt this NATIONAL CODE OF ETHICS AND RESPONSIBILITIES FOR THE REAL ESTATE SERVICE PRACTITIONERS that will govern their rule of conduct.
SCOPE AND PURVIEW OF THE CODE
SCOPE AND PURVIEW OF THE CODE
As used in this code and for the purpose hereof, the Real Estate Service Practice shall embrace and include all natural persons who are performing any act of engaging in the practice of real estate service as defined in Section 3(g) of Republic Act No. 9646 namely, real estate consultant, appraiser, assessor, broker, and salesperson hereinafter referred to as the real estate service practitioners.
GENERAL PROVISIONS AND DECLARATION OF PRINCIPLES
Article II, Section 1
The Real Estate Service Practice is a noble profession, calling or occupation and those engaged therein shall abide by, commit and comply with all the laws, standards, decrees, orders and rules and regulations enacted or promulgated by duly constituted government authorities.
Article II, Section 2
Section 2. The Real Estate Service Practitioners shall perform it duties and responsibilities with utmost integrity, responsibility, fidelity, sincerity, respect and courtesy for colleagues in the profession with a behavior proper to a professional. The Real Estate Service Practitioners shall adhere to the strict compliance of the National Code of Ethics and Responsibilities with honesty, good moral conduct and strong sense of values. The practitioner shall observe at all times objective moral standards in the practice of real estate service with good governance in relation with his/her client(s) and the community and in service to the nation and Filipino people.
Article II, Section 3
Section 3. It is required to have adequate education, value formation, knowledge, competence and expertise in real estate service. The Real Estate Service Practitioner shall maintain a professional character and personality by upholding the generally accepted standards of the practice.
Article II, Section 4
Section 4. The spirit of unity, harmony, camaraderie, cooperation and professional relationship among the practitioners is essential, and shall be promoted under the principle of solidarity.
Article II, Section 5
Section 5. The Golden Rule which reads, “Do unto others as you would have them do unto you,” shall be observed in all the dealings and relation of the practitioners with clients, fellow practitioners, the organizations to which they belong, and the public.
PROFESSIONAL RULES OF CONDUCT AND RESPONSIBILITIES
Article III, Section 1
To the Government
Section 1. To the Government
- (a) The Practitioner shall secure all the necessary licenses, permits and authority from the Commission and other government agencies as may be required by law, ordinance or rules and regulations and comply with all the requirements relative to the practice of real estate service.
- (b) The Practitioner shall pay any and all professional fees and taxes that are required by law in the practice of real estate.
- (c) The Practitioner shall not encourage, tolerate or participate in the evasion or illegal reduction in the payment of all taxes, fees or charges that is due to the government.
Article III, Section 2
To the Public
Section 2. To the Public
- (a) The Practitioner shall be imbued with a social responsibility and conscience being part of society with duties and responsibilities for the promotion of the common good.
- (b) The Practitioner shall cooperate with the government in protecting the public against deceit, misrepresentation, unfair, relevant information and other related unethical and immoral practices and malpractices of unlicensed and unauthorized real estate service practitioners.
- (c) The Practitioner shall endeavor to present the full disclosure of pertinent and material facts on the subject property in advertisements (i.e. brochures, flyers and press releases (whether in tri-media or electronic media/means).
Article III, Section 3
To the Clients
Section 3. To the Clients
- (a) The Practitioner in accepting any authority, listing and/or assignment to act for and in behalf of a client shall be obliged with prudence, integrity, loyalty, fidelity and good faith in protecting and promoting the interest of the client without sacrificing the legitimate interest of the other party in the transaction which shall not be contrary to the law, good morals and public interest.
- (b) The Practitioner shall not accept any professional fee or valuable consideration from any party of the real estate transactions except from his/her client unless with the full knowledge and consent of all the parties.
- (c) The Practitioner shall charge or collect standard professional fees which are fair and reasonable in accordance with real estate industry practice in similar transactions but not lower than the agreed minimum professional fee as recommended by the accredited and integrated professional organization based on the existing standards of real estate service practice.
Article III, Section 4
To Fellow Practitioners
Section 4. To Fellow Practitioners
- (a) The Practitioner shall not use any vital documents relative the professional conduct without written consent by the other Practitioner.
- (b) The Practitioner may coordinate with other Fellow Practitioners and agree their respective reasonable professional fees in accordance with the Tariff of Professional Fees prescribe by the Accredited and Integrated Professional Organization (APO).
- (c) The Practitioner shall not use or solicit the services of the employee of another Practitioner without the written consent by the latter.
- (d) The Practitioner shall not engage in slander, oral defamation, gossip, or criticize publicly a fellow practitioner and/or competitor nor volunteer a negative and damaging opinions of a competitor and/or fellow practitioner in any means (SMS, electronics mails or letters, etc of similar nature). And if one’s opinion is essentially sought for common good, the Practitioner shall render it with prudence, truth with professional integrity, courtesy and respect to a fellow practitioner cautious in safeguarding the latter’s human rights and good reputation and credibility.
- (e) The practitioner shall not seek unjust and unfair advantage over his/her fellow practitioners by organizing or sowing discord, spreading and bad mouthing against other practitioners particularly officers and members of their association or APO or even other associations.
- (f) The Practitioner shall willingly share, contribute, write and publish articles for the benefit of fellow practitioners and for the good of the real estate industry by imparting knowledge, technical training, experiences, studies or research without prejudice to classified or confidential information from client.
- (g) The Practitioner shall conduct ethical and professional practice with honor, dignity and integrity to avoid any controversies with fellow practitioners.
Article III, Section 5
To the Accredited and Integrated Professional Organization (APO)
Section 5. To the Accredited and Integrated Professional Organization (APO)
- (a) The Practitioner shall abide the articles of incorporation and by-laws of the accredited and integrated professional organization (APO) pursuant to with Section 34 of R.A. 9646.
- (b) The Practitioner shall swear under oath to support the APO financially and morally and shall actively participate in the programs and activities for the benefit and welfare of the general membership and the real estate industry.
- (c) The Practitioners shall strictly observe and comply the APO’s approved Code of Ethics and Responsibilities.
- (d) In the event of controversy between members of the accredited and integrated professional organization (APO), such shall be submitted for arbitration to the APO whose decision shall be binding, if accepted by both parties. However, if the APO arbitration body cannot settle the controversy, the Commission through the PRBRES shall assume jurisdiction over the said controversy in accordance with Section 5 paragraph (c) & (g) of RA#9646 and its implementing rules and regulations. All forms of complaint shall be substantiated with pertinent facts and documents as required by law in compliance of due process.
- (e) The Practitioner shall first exhaust all possible administrative remedies available in the APO with discretion in compliance with due process available under the existing laws, rules and regulations before taking any judicial or quasi-judicial or administrative action outside APO’s jurisdiction.
- (f) APO’s elections of officers and trustees must be carried out with commitments to moral integrity, obligation to serve with sense of responsibility, honorably, unselfishly, diligently and efficiently not being subjected to self-interest, undue use of force, authority and/or abuse of power and discretion. Electioneering in any form shall not be allowed nor tolerated and anyone doing such shall be automatically disqualified as candidate or nomination for any position and the conduct thereof must be harmonious, peaceful, credible and orderly.
Specific Duties and Responsibilities
Article IV, Section 1
Real Estate Brokers shall
Article IV, Section 2
Real Estate Appraisers and Real Estate Consultants shall
Article IV, Section 3
Real Estate Government Appraisers and Assessors shall
SANCTIONS AND FINAL PROVISIONS
Violating any provision of the Code of Ethics and Responsibilities:
- (a) First Offense – Reprimand or Warning; (b) Second Offense – Suspension of APO membership for Two (2) months;
- (c) Third Offense – Suspension of APO membership for Four (4) months;
- (d) Fourth Offense – Recommended for Suspension of License at the Professional Regulatory Board of Real Estate Service (PRBRES) and at the PRC;
- (c) Fifth Offense or Habituality – Recommendation for the Cancellation of License at the PRBRES and at the PRC.
Violating any provision of the Real Estate Service Act (RA#9646) and its implementing rules and regulations:
- (a) First Offense – Suspension of APO membership for Four (4) months;
- (b) Second Offense – Recommended for Suspension of License at the Professional Regulatory Board of Real Estate Service (PRBRES) and at the PRC;
- (c) Third Offense or Habituality – Recommendation for the Cancellation of License at the PRBRES and at the PRC.
Section 1. If any provisions or part thereof shall be declared unconstitutional or invalid, such judgment shall neither invalidate nor impair any other provisions or part thereof.
Section 2. This National Code of Ethics and Responsibilities shall take effect after fifteen (15) days following its full and complete publication in any newspaper of general circulation.
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