Code of Ethics and Responsibilities Real Estate Practitioners 2016
CODE OF ETHICS AND RESPONSIBILITIES
FOR REAL ESTATE PRACTITIONERS
MEMORY AID
1. Aim / Purpose of Realty Service Practice :
 dedicated to the promotion,
development and conservation of land
and natural resources including
improvements and interest thereto for
the benefit of the Filipino people.
2. Subjects of relations by realty practitioners
who are bound by a code of conduct in the
performance of their duties:
 government
 co-practitioner
 people or the general public
3. Principles in Realty Service Practice:
 noble profession , thus, the practitioner
shall abide by and comply with all laws
enacted by the authorities.
 utmost fidelity, sincerity and honesty
shall be observed at all times
 adequate knowledge, competence and
expertise shall be maintained
 camaraderie, corporation and
professional relationship shall be
promoted
 fair , honest and just dealings with
professional relationship shall also be
maintained
 Golden Rule : Treat others as you like
them to treat you.
4. Scope of the Code :
all licensed and registered:
 natural persons
 partnership
 corporations
5. Relations to the Government :
 permits , licenses and authority must be
secured by the practitioner from
government agencies.
 taxes, fees , dues etc . must be paid to
the government.
 assist government agencies in the
promotion and conservation of land
and natural resources.
 evasion or illegal reduction on taxes
must not be encouraged and tolerated
 must not split, share , pay or rebate
any commission to any unlicensed and
unregistered practitioner
 must indicate license or registration
number in letterhead , signboard etc.
6. Relations to the Public:
 should be imbued by social conscience
that he is part of the society.
 should ensure best use of land and its
equitable distribution.
 should be informed of any movement
affecting real estate to contribute in
taxation matters and planning
 should cooperate with the government
in protecting the public from
unscrupulous practices of unlicensed
individuals
 should ascertain pertinent facts and
avoid misrepresentation
 should not introduce use of property
which will impair its value
 should not be a party in naming of
false consideration in a deed
 should a separate or distinct personal
or special bank account in
advertisements.
 should present a true picture of the
property and its improvements
including lien and encumbrances
 should see that all agreements , terms
and conditions and other financial
obligations are in writing and duly
notarized
 should present the true picture of the
property including improvements and
right therein and encumbrances to the
public.
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Code of Ethics and Responsibilities Real Estate Practitioners 2016
7. Relations to the Client/Customer:
 should pledge himself with utmost
fidelity in accepting an appointment
and authority
 should be well informed of current
legislation , policies , programs of the
government affecting the interest of his
client
 should accept commission only from
his client unless with full consent of the
others
 should charge reasonable fees or
commissions
 should reveal his true position in
acquiring a property for himself and
members of his family ( fourth civil
degree / 20% proprietary interest)
 should not advertise the property
without authority.
 should present all offers to the
property owner in case more than offer
had been presented before his
acceptance
 should endeavor fair and just contract
between his client and customer
 should assist his customer in
acquisition and ownership of the
property in accordance with the terms
and conditions
 should give an unbiased , honest and
truthful testimonies in any court
proceedings.
 appraiser should render an opinion
with careful analysis and
interpretation.
 appraiser should not undertake an
opinion that is outside of his
experience and competence unless
assisted
8. Relation to Fellow Practitioners:
9. Relation to His Organization:
 should not solicit exclusive listing
unless expired or revoked
 should respect the agency of another
listing broker until expiration. No
listing should be passed to third broker
without the knowledge of the listing
broker.
 only one broker is authorized by the
owner to place notice of sale in one
property
 should not use information from a
listing broker to create referral
prospects for the third broker unless
authorized
 should cooperate and share
commission with other brokers as
agreed, negotiation should with the
exclusive listing broker and not with the
owner unless authorized
 should not use the service of the
employee of another broker without
consent
 should not criticize publicly a
competitor, if opinion is sought it
should be done with integrity
 should not seek unfair advantage over
other practitioners and should share
experiences
 conduct business properly,
controversies should be submitted for
arbitration in an organization he
belongs
 controversies between two
practitioners from two different
organization should be submitted to
Arbitration Board with members the
organizations involved
 controversies between non-members
of the organizations shall be dealt by
the concerned government agency
( like PRC)
 if case is filed against a member of an
organization, he should submit
pertinent facts before the investigating
body
 is the profession is at stake, the
practitioner should abide by the
Constitution and the Association to
which he is affiliated
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Code of Ethics and Responsibilities Real Estate Practitioners 2016
 election of officers in the organization
should be done with moral obligation;
no electioneering
 should support the organization in all
aspects

10. Violations to the Code of Ethics shall give to

sanctions by the organization where he
belongs without prejudice to other
disciplinary action filed against him by the
other agencies.

****END****

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