The Code of Ethics states professional standards and obligations of brokers and agents to be strictly observed. A broker and agent may not infringe requirements of this Code of Ethics due to any assumptions
An agent and a broker is
- to respect the state power and to observe all its laws;
- to respect self-respect and rights of another person;
- to be honest, just and true with regard to customers, third persons and his colleagues;
- to protect his honour and good name and those of his trade in all his professional activities;
- to be purposeful and to fulfil work started thereby to its end as far as possible;
- to remember that well done work is a matter of honour; it raises his personal prestige and that of his trade;
- to attempt to always be well informed in all matters related to real estate and his professional work.
A broker and an agent is:
- to share his work experience with his colleagues;
- to assist his colleagues to elucidate unintelligible issues within his possibilities and knowledge;
- to abstain from unnecessary and unjustified public criticism of the work of his colleagues and methods of their work, or else in case the same have defaulted principles and requirements of this Code of Ethics. In case such criticism is necessary, it should be open, objective, have proper arguments, be expressed precisely and clearly, with only facts to be disclosed being mentioned.
A broker and an agent is:to observe and protect customersí interests, provided the same are honest and true. Such obligation - of being true to the customerís interests, is primary for a broker and an agent, but does not release him from an obligation to be honest to all persons concerned.
A broker and an agent shall not disclose confidential information in his relations with his customer or a third person, as well as upon termination of such relations, unless:
- such information is required to hinder, prevent or expose any dishonest or criminal action;
- this is requested by a law enforcement institution.
A broker and an agent may not:
- request remuneration for an agency service from all parties involved in a transaction; remuneration may be accepted from all parties involved in a transaction, provided the same have been informed thereabout in advance with a respective mutual arrangement being achieved.
- to render services with no necessary knowledge being received to perform the same, and with no special permission, licence or certificate being received, if required by the law.
A broker or an agent is to inform his customer or his representative, in case the brokerís or agentís interests exceed receipt of the charge; in selling any property owned thereby or such where the same owns a share, the buyer shall be informed thereby.
A broker and an agent is to agree with the customer, in case the former wish to acquire part of the customerís property to their ownership.