| Benefits Of CEI |
This Code of Practice is designed to promote the highest standards of service in the practice of estate agency and improve the standing of the CEI and its members.
GENERAL RULES
- CEI members must ensure that they, and all members of their staff, comply with this Code of Practice, as well as with all Real Estate Agency legislation of their couuntry.
- No Member shall discriminate or deny equal professional services to any person for reason of race, creed, sex or country of national origin.
- In exercising his profession, the Member will be inspired by moral principles and will refrain from any action that will bring disrepute to himself or to the profession.
- Every Member must become an expert in his sphere of activity and in the real estate market and keep up to date his knowledge of relevant legislation.
- He must be objective at all times and give scrupulous attention to detail in gaining necessary information and preparing descriptions of properties under assignment.
- A Member shall not accept a specialist assignment which is beyond his field of experience, unless he secures the assistance of a specialist in that particular field.
- All advertisements shall meet the standard of fairness, decency, accuracy and honesty, as required by Community legislation.
- Each Member must maintain the confidentiality of matters he will become aquainted with during the execution of his duties.
- He must pay all clients' monies into a separate client account and must properly account for all monies held and is recommended to take out adequate insurance cover.
- All Members should be insured against professional liability.
RULES CONCERNING CLIENTS
- Members are required to act at all times in the interests of their clients. They must disclose immediately whether they are acting in the role of -marchand de biens- or if there is a personal interest in the transaction.
- A Member must not deliberately misrepresent to an owner the potential sales price or rental.
- A Member shall neither directly, or inderectly, harass an owner to seek instructions to act on his behalf.
- No Member may offer a property for sale or for rent without first having written authority of the owner, where the commission terms and the duration of the assignment are clearly stated.
- Members are not permitted to offer sub-agency instructions without authority from the owner. The Member will be responsible for ensuring that any sub-agents appointed by him will comply with this Code of Practice.
- No Member should knowingly or recklessly misrepresent the existence or status of any prospective buyer.
- Members must communicate to owners accurate details of all offers received for their properties as soon as practically possible and to follow up with confirmation in writing.
- Members will ensure utmost respect and maximum security for properties entrusted to them and for the possessions contained therein.
RULES CONCERNING COLLEAGUES
- Members must behave as good colleagues towards fellow real estate agents and ensure that fair competition, courtesy and respect will always govern their relationship.
- Members are not allowed to sollicit business from or carry out negotiations with clients of a fellow real estate agent, without his explicit permission.
- Members must refrain from making unfavourable criticism of colleagues to clients.
- Where transactions are concluded through more than one agent, commissions must be shared according to the previous agreements and, in the case of no prior agreement, commission will be equally divided.
- A Member may inform the Board of Directors of CEI of any objections he may have regarding the actions of a colleague from another country and any dispute between members should be resolved through the Federation.
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