Code of Ethics
All India Real Estate Agents Association (AIREAA) members acknowledge that a buying agency must be founded upon strict adherence to the legal principles of a real estate agency with ethical standards that may surpass minimum legal standards. However, in any instance where there is a conflict between the Code of Ethics and the law, the law of the country must take precedence.
Through our commitment to the following principles, our integrity, and our professionalism we serve our clients and community. AIREAA members will:
- Act in accordance with the relevant real estate agent laws.
- Not represent any client where a conflict of interest exists or is likely to arise.
- Advise and counsel clients based on their own professional experience, knowledge, and judgment and on the results of research and enquiries.
- Make it clear to the client whether descriptions of a property are the selling agent's or vendors' claims or are the buyer’s agents own discoveries.
- Always act in the best interests of their clients.
- Never do anything that might jeopardize the clients' bargaining position or other interests, and not disclose clients' confidential information.
- Always act in accordance with the clients' lawful instructions.
- Have a written agreement with each client, specifying the services to be provided, fees and payment schedule, the term of the agreement and the client's options and obligations for termination of the agreement.
- Declare to the client any financial or other interest in any property or service they are referring the client to.
- Disclose to selling agents, on first contact, that they are acting as buyer’s agents and are not the purchaser. Give written authority to bid, signed by the client, to the selling agent or vendor, before the start of any auction (state laws may differ).
- Consider and research all potential sources when conducting a property search.
- Thoroughly research a targeted property and its surroundings whenever possible to discover all material information and relate all relevant information to the client.
- Not undertake specialized services for which they are not qualified or licensed and make it clear to the client that they are not a substitute for professional, legal or financial advice (unless otherwise qualified to provide that advice).