CODE OF ETHICS OF THE MEXICAN ASSOCIATION OF REAL ESTATE PROFESSIONALS, A.C.
FIRST SECTION. RELATIONS WITH THE PUBLIC.
Article 1°. It is the primary duty of all real estate professionals to educate themselves within their specialty: Real Estate. It is therefore an obligation of the good real estate professional to be up to date with everything related to their field of action, informing themselves of changes that may affect real estate property not only within their city but also in the nation in general. With the knowledge he acquires, he will be able to contribute to public opinion when it comes to tax matters, legislation, better use of land, planning and other aspects related to real estate.
Article 2°. The real estate professional has the obligation to be aware of the conditions of the real estate market, since, among others, they occupy the first place in a guiding role of the client on the fair value of real estate property.
Article 3°. It is a very important function of real estate professionals, the protection of the client against fraud, abuse or immoral practices in the field of real estate. Consequently, they have a duty to help prevent any harmful action to the public, as well as any act that attacks the dignity and integrity of the real estate profession. If the practice of such acts came from any member of the Mexican Association of Real Estate Professionals, it is the duty of the person who knows such thing to render the necessary evidence to the National Council of Directors of said Association in order that, in accordance with the Bylaws of the same, proceed to the sanction of the violator of this code of ethics.
Article 4°. When accepting a property for its administration or sale, the real estate professional must know it before managing it or offering it on the market in order to avoid any mistake towards its client, exaggeration of qualities of the property offering and concealment of a report on it since the truthfulness of your data should be the guideline for the actions of a real estate professional.
Article 5°. The real estate professional must not carry out operations in which the interests of some of the contracting parties, or of a third party, or of a professional real estate colleague are injured for any reason.
Article 6°. The real estate professional should not contribute to establishing false data in deeds or other public instruments, nor to falsifying declarations before any authority. Integrity in all his acts will be the guideline of the good impression he must make to his clients, thus corresponding to the trust placed in him.
Article 7°. The real estate professional, when using any of the advertising methods, must be very careful of the veracity of the data that appears in the advertisement, since the chosen method must present and reflect the exact reality and under no circumstances distort it.
Article 8°. The real estate professional, for the protection of the parties involved in an operation, will ensure that all the data, promises and agreements related to each transaction are recorded in writing. In the relative documents the exact agreement to which the interested parties arrive will be signed, who will sign accordingly, each keeping a bit and leaving another in the possession of the real estate professional for their record and filing.
SECOND SECTION. RELATIONS WITH THE CLIENT.
Article 9°. Accepting any business from a client involves in the conscience of the real estate professional the commitment to promote and protect his interests. This is an obligation of loyalty to someone who has entrusted you with a business. This duty, which is of paramount importance, entails in itself the need to act with absolute justice and honesty towards all the parties involved in a transaction.
Article 10°. In the guarantee of the interests that have been placed in the hands of the real estate professional, they must inform their clients with absolute truthfulness about: Qualities and defects of the real estate that is provided to it or that it wishes. Of the ease or difficulty of performing the propagated operation. In general, of all the circumstances that may surround the business entrusted to it. Likewise, the real estate professional should never oppose any of the parties interested in the transaction to consult with a lawyer, notary or other professionals about: The problems that affect the property The restrictions or limitations that may weigh on it The damages, etc. , which could limit the use or enjoyment of the asset on which you wish to operate. If its structural stability is correct. If the materials used in construction are as indicated. In general, the real estate professional will provide facilities to all those technicians in different matters that the clients wish to consult in an operation on any real estate.
Article 11°. The fees charged by the real estate professional must be the fair compensation for their work and knowledge on the subject in accordance with the custom of the square in which the property is located. These fees may be calculated based on a percentage on the amount of the consideration in the case of sale or lease, or on the gross or net income in the case of administration, or as a fixed amount in any case. In no case should he charge a "surcharge", since this custom is considered as unfair compensation to the detriment of the interests, in particular of the selling customer.
Article 12°. In the event that the real estate professional is interested in acquiring for himself or for his company some property that has been proposed for sale by a client, he must inform him of this desire and suggest that an expert practice the appraisal of the property in question and on that basis, if both parties agree, the operation must be carried out.
Article 13°. By granting the real estate professional an exclusive sale option letter, he undertakes with the client the commitment to preferably work this business. Therefore, the real estate professional must instruct their clients about the advantages that granting said exclusivity will represent for both parties.
Article 14°. When the real estate professional, when making a payment on behalf of the client, receives a discount or discount, the bonus will always be in the client's benefit.
Article 15°. The real estate professional will be extremely jealous in keeping the Professional Secret. Under no circumstances will it express opinions or give confidential information about their clients' situation or about what their client has entrusted to them under professional secrecy.
Article 16°. When making a judgment on the value of a property, the real estate professional must make a careful analysis of all the factors that surround and can affect the business to be treated. You should never issue opinions on the value of a property in which you have a present interest or may have one unless this circumstance is made clear and clearly delimited to the applicant. You should never give an opinion on the property value of which you have no experience, being obliged in these cases to consult an experienced appraiser in the square. All the circumstances in these cases must be disclosed to the client.
Article 17°. To advertise a property, the real estate professional must request authorization from the owner. The real estate professional will never advertise properties that have not been offered directly by the owner, since if the offer comes from another partner, he must request written authorization from him to use any means of advertising about that property.
Article 18°. The real estate professional will make sure that the offers they make about the properties they have for sale are in writing. You will have the obligation to show them to the owner, whatever they may be, in order to regulate his criteria and put him in a position to decide on the bases presented.
THIRD SECTION. RELATIONS WITH OTHER REAL ESTATE PROFESSIONALS.
Article 19°. The real estate professional should not seek advantages over other colleagues and it is his obligation to share with them the experience and preparation that he has acquired through his studies and practice in different transactions.
Article 20°. If it suggests any difficulty between two Real Estate Professionals of the same organization, the arbitration of the matter must be submitted before a court made up of people chosen from among the members of the organization in accordance with its statutes and never before courts of common jurisdiction. The real estate professional must submit to the ruling issued by the aforementioned court.
Article 21°. When the real estate professional is accused of unethical practices and does not feel guilty, he must voluntarily present the pertinent facts to the body indicated in the statutes to the National Board of Directors.
Article 22°. The real estate professional will refrain from commenting on the business performance of other real estate professionals from the same association. If your opinion is officially requested, it must be given with absolute adherence to reality with courtesy and with professional integrity.
Article 23°. The real estate professional will not accept an exclusive that another real estate professional has in force. You must respect the rights of the former until the term of said exclusive expires, even if the owner wishes to give you the exclusive. Likewise, the real estate professional who accepts an option agrees not to assign his rights to a third party without the knowledge and consent of the initial real estate professional and the owner.
Article 24°. The real estate professional must cooperate with other Real Estate Professionals in the sales register, distributing the commissions on the agreed basis. In the event of an exclusive sale, the real estate professional should deal with his real estate professional partner who gave him the property for sale and not with the owner.
Article 25°. A real estate professional should not request the services of an employee of a colleague, without the consent and knowledge of said colleague.
Article 26°. The announcement of sale, rent or exchange of a property should not be located in it by more than one real estate professional.
Article 27°. In the best interest of society, its associates, and their own business, the real estate professional should be legal to their well-established local organization, their peers, and active in their work.