CODE OF ETHICS
NATIONAL REAL ESTATE DEVELOPMENT COUNCIL (NAREDCO)
SOLEMN PLEDGE BY MEMBERS OF NATIONAL COUNCIL AND
LOCAL COUNCILS

14. The brokerages enterprises Member shall always endeavor to remain fully informed about the regulations, statutes, proposed legislation, public policies and current market conditions, for enabling it to be in a position to properly advise the clients. It shall also be the endeavor of the brokerage enterprise to eliminate scope of unethical practices which may cause damage to a client/and or bring discredit to the real estate profession. The brokerage enterprise must aim at providing competent service in keeping with the high standards relating to the fields in which the enterprise operates and shall not undertake to provide any specialised professional services which may be outside the field of competence, unless the enterprise procures competent assistance relating to such requirement and unless the facts are fully disclosed to the client. Where such outside assistance is secured it shall be identified to the client and the contribution of such outside enterprise must be set forth in clear terms.

15. Brokerage enterprise shall ensure that the financial obligations and commitments regarding Real Estate transactions are invariably recorded in writing, incorporating the exact agreement between the parties; copy of such agreement shall be furnished to each party upon signing of the agreement.

16. The brokerage enterprise recognises its duty to protect the public against any misrepresentation, unethical practice or fraud in Real Estate work, ensuring that all properties are listed solely on merit and without exaggeration, concealment, deception or misleading information. In accepting employment as agent, the Brokerage Enterprise subjects itself to protect and promote the interests of the client, maintaining also the obligation to treat fairly all parties to the transaction.

17. Brokerage Enterprises shall not acquire an interest in, directly or through any member of the family or for any entity in which it has substantial ownership interest, in property listed by it, without making the correct position known to the owner. In selling property the Brokerage Enterprise shall reveal the facts of any ownership and/or interest in such property, revealing full facts thereof to the purchaser. The Brokerage Enterprise shall not accept any commission, rebate or profit on expenditures incurred on behalf of the principal-owner, without the Member's knowledge and consent.

18. The Brokerage Enterprise recognises that all contracts and agreements relating to ownership, use and/or occupancy of real estate properties should be in writing and signed by all parties or by their lawfully authroised agents.

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