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Code of Conduct

Objective

The objective of the Leading Agents of the World Code of Ethics (incorporating a strict Code of Conduct) is to maintain the accountability and integrity of network members whilst undertaking their duties as international real estate agents.

Application of the Code of Ethics (incorporating a strict Code of Conduct)

The Code of Ethics/Conduct applies to all members of the Leading Agents of the World. They are in addition to the statutory legislation applicable to each member agent´s state or national governing bodies.

Where conflict may arise as a result of the Leading Agents of the World Code of Ethics/Conduct and the requirements of the statute law, the provisions of the statute law shall prevail.

Members shall conduct their business so as to avoid controversy or lack of integrity and professionalism to themselves, the Leading Agents of the World and its fellow members.
If a member´s opinion is sought regarding a fellow Leading Agents of the World member, it shall be portrayed with strict professionalism, courtesy and integrity.
A member shall not deny professional services, nor be a party to any plan or agreement to discriminate against any person, on the basis of race, creed, colour, sex, familial status, age, or national origin.
Members shall not knowingly or recklessly make false or misleading statements about competitors, their businesses or their business practices.
Members shall fully disclose in writing to (and are strongly advised to seek written acknowledgement from) each party to a transaction, detailing a full description of the scope of service the member will be providing to them. Members shall also disclose their role to other real estate agents involved in the transaction.
A member is obliged to render a skilled and conscientious service, in conformity with standards of competence which are reasonably expected in the specific real estate disciplines in which the member engages.
It shall be unethical for a member to reveal any information without the client´s written authority.
In accepting a referral, the member pledges to protect the interest of the client as the member´s first responsibility and additionally the member will be fair to the client and ensure their privacy is not in any way compromised.
All dealings concerning property listed solely and exclusively with another real estate agent for sale or lease, or with buyers or tenants who are subject to a sole or exclusive agreement, shall be conducted through the client´s agent, and not with the client, except with the consent of the client´s agent.
Members shall ensure that agreements regarding real estate transactions are in writing and in a clear and understandable language, expressing the specific terms, conditions, obligations and commitments of the parties to the agreement. A copy of each final agreement shall be provided to each party (including the referring agent) upon signing or initialing, and shall be dealt with in accordance to the parties involved and their instructions, with regard to ensuring statutory law is abided by.
In instances where there may be a language barrier, the referring agent shall ensure that the client understands their contractual obligations and the property transaction they are entering into.
A member shall not accept compensation from more than one party to a transaction without written consent of their client/s, even if permissible by the national statute law.
Members shall take all reasonable steps to be informed of the essential facts that affect current market conditions, in order to be in a position to advise their clients and/or assist them in a responsible manner with particular attention to providing valuations, appraisals, market commentary and/or forecasts in a volatile market and shall warn the client to bear in mind current market volatility and the affect it may have on their decision to transact property.
It is the duty of the member to protect the clients against fraud, misrepresentation, offensive behaviour or unethical practice in real estate transactions.
Members must not engage in the practice of advertising or charging different tiers of pricing, with higher prices being charged to clients who are residing outside the particular location of the property or who are otherwise unaware of the material facts such that they are prepared to pay prices for the property that are higher than the prices that those who are aware of those facts would be prepared to pay.
Members must not make false or misleading representations about properties, including the reasonable values of those properties, the features of those properties, the location of those properties or any other matter pertinent that is material to the sale, purchase or lease of the property.
Members must ensure that all representations made regarding the description of a property including the property´s features, fixtures and characteristics, must be true and must not amount to express or implied representations that are false. The representations must be accurate and without embellishment.
Members must not make false or misleading representations about investment properties, including the reasonable values of those properties, the features of those properties, the likely rental returns, the potential vacancy factor, the nature or effect of long term management contracts, or any other matter that is material to the sale, purchase or lease of the property.
Members shall not engage in any conduct which is misleading or deceptive or is likely to mislead or deceive.
Members shall ensure that they do not participate in any harsh or unconscionable conduct with respect to the marketing, sale, purchase or leasing of properties.
When a member agent refers a client to a fellow member agent, both agents agree to work ethically and conscientiously with the client´s best interest in mind.
A member agent receiving a referral from a fellow member agent must keep the referring agent informed of the progress of the client´s requirements in securing a property to purchase, sell and/or lease.
When a referred client secures a property either by purchasing or leasing, or sells a property the agent agrees to immediately recompense the agreed commission to the referring agent on the settlement/completion of the property transaction.
The referred member agent agrees to immediately disclose to a secondary non-member agent involved in a transaction the commission percentage due to the referring agent.
When a client is referred from a member agent to a fellow member agent, the agent shall act courteously, promptly, efficiently, ethically and professionally and to service the client both effectively and tirelessly to successfully fulfill the clients request to purchase, sell and/or lease a property in as minimal time as possible.
When a referred client´s property transaction is complete and has been finalised, the referred agent agrees to supply to the referring agent legal documents, as proof of purchase, sale and/or lease of the property and the price achieved or paid on the property together with a statement of settlement.
Should the referred clients purchase, sell and/or lease future properties, the agent agrees to recompense the referring member agent the stated Leading Agents of the World commission for the life of the client.
As a commitment to both the professionalism and integrity of member agents and the Leading Agents of the World network, and to ensure the network´s continued high business ethics and reputation, all member agents must ensure that they maintain a data base of ´Clients For Life´ including those that have been referred to fellow member agents by keeping them informed of their local market trends and future property recommendations and details of their clients property transactions keeping in mind legislation relating to the relevant ´Privacy Act´.
On finalisation of successful property contracts of a referred client, both the referring member agent and referred member agent must supply details of the property transaction to the Leading Agents of the World main network branch for the purpose of maintaining a register surmising the success of the network and the added business member agents are achieving. The Leading Agents of the World will maintain strict privacy of the information and this will only be used for management purposes to measure the success of the network. Client´s names and exact details of the property description will not be necessary, only information relating to the agents and the price achieved on the property and whether the transaction was for sale, purchase and/or lease.
Any member agent who breaches the Code of Ethics (incorporating the strict Code of Conduct) risks immediate expulsion from the network and the termination of the membership and will no longer be eligible for membership at any time in the future.

DEFINITIONS:

Client: means a person who appoints a network agent to perform an activity related to a property transaction.

Member: means a financial real estate agent who is registered on the Leading Agents of the World member registry.

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