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Code of Ethics
CREA’s Code of Ethics and Standards of Business Practice has been the measure of professionalism in organized real estate for over 40 years. The first code was approved in 1913 at the convention of the National Association of Real Estate Boards held in Winnipeg. The first Code of Ethics specifically prepared for members of The Canadian Real Estate Association was approved by members in 1959.
The Code establishes a standard of conduct, which in many respects exceeds basic legal requirements. This standard ensures that that the rights and interests of consumers of real estate services are protected. As a condition of membership, all REALTORS®S® agree to abide by the Code.
Some of the requirements of the Code include:
While the Code of Ethics establishes obligations that may be higher than those mandated by law, in any instance where the Code of Ethics and the law conflict, the obligations of the law must take precedence.
A Realtor's ethical obligations are based on moral integrity, competent service to clients and customers, and dedication to the interest and welfare of the public. The Code has been amended many times to reflect changes in the real estate marketplace, the needs of property owners and the perceptions and values of society. For more than forty years, through a variety of updates, the CREA Code of Ethics is unchanged in demanding high standards of professional conduct to protect the interests of clients and customers and safeguard the rights of consumers of real estate services.
Through the REALTORS®, the land resource of the nation reaches its highest use and private land ownership its widest distribution. The REALTORS® is instrumental in moulding the form of his or her community and the living and working conditions of its people.
Such functions impose grave social responsibilities which REALTORS®S® can meet only by diligent preparation, and considering it a civic duty to dedicate themselves to the fulfillment of a Realtor's obligations to society.
The REALTORS® therefore must be zealous to maintain, and continually strive to improve, the professional standards of his or her calling:
In the interpretation of his or her obligations, the REALTORS® can take no safer guide than that which has been embodied in the Golden Rule - "Do unto others as you would have them do unto you".
No inducement of profit and no instructions from clients or customers can ever justify departure from the ideals of fair dealing and high integrity resulting from adherence to a lofty standard of moral conduct in business relations.
Accepting this standard as his or her own, each REALTORS® pledges to observe the spirit of the Code in all dealings and to conduct business in accordance with the Standards of Business Practice as adopted by The Canadian Real Estate Association.
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