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Code of Ethics


Index


Preface


Chapter I - Generic Duties

Art. 1 - Objective
Art. 2 - General Duties
Art. 3 - Duties Accomplishment
Art. 4 - Preparation and Dignification Of The Activity
Art. 5 - Permanent Updating
Art. 6 - Cooperation With The Class Association
Art. 7 - Relashionships With The Class Association
Art. 8 - Duties Of The Real Estates Mediator
Art. 9 - Real Estates Mediator Rights
Art. 10 - Exposure Of Illegal Behaviour
Art. 11 - Rights and Interests Protection
Art. 12 - Previous Information
Art. 13 - Signing False Documents
Art. 14 - Forbidding Of The Practise Of Functions That Are Execlusive Of Other Professions
Art. 15 - Sums Handed Over By Third Persons
Art. 16 - Publicity Ways
Art. 17 - Bonding Ways
Art. 18 - Sectors Publications

Chapter II - Relationship With The Client

Art. 19 - Duties Towards The Clients
Art. 20 - Diligences On Contracts Execution
Art. 21 - Capacity And Legitimacys Control
Art. 22 - Representation Of Both Parties
Art. 23 - Remuneration For The Services Rendered
Art. 24 - Defense Of The Comsumers Interests
Art. 25 - Exclusivity
Art. 26 - Accounts Rendered
Art. 27 - Evaluations
Art. 28 - Consideration When Evaluating
Art. 29 - Authorization For Mediation And Price
Art. 30 - Reception Of Several Propositions

Chapter III - Relationship With The Colleagues

Art. 31 - Loyalty Duty
Art. 32 - Urbanity Duty
Art. 33 - Legal Disputes With Professional Of The Sector
Art. 34 - Cooperation Duty During a Lawsuit
Art. 35 - Respect When Requiring Exclusivity
Art. 36 - Remuneration Distribution
Art. 37 - Cooperation Between Mediators
Art. 38 - Real Estate Signs
Art. 39 - Disloyal Competition
Art. 40 - Appliable Rules

 


Perface
 

In a time of real estates activity expansion, in which the Mediator has achieved an important role in this area, and considering conflict of interest and the constant mutations that exist nowadays, it is convenient to cooperate in the redefinition of the balances that rule the sector, according to the rules that already exist, and always assuming a joined responsibility between Real Estate Mediators and those who cooperate with this activity.

The code of ethics rules aim to guarantee, through the free acceptance by those who they are intended for, the perfect accomplishment by the Mediator of a recognized mission, and its non-observance may be passable of responsibility.

The Real Estate Mediator, when he is practising his activity, has an important role in society, due to the usefulness of the services he renders.

Therefore, he should always improve his knowledge, in order to execute well his mission, and promote professional training of his co-workers. He should try to have an updated knowledge of the real estate market, in order to give correct evaluation judgements, and mediate real estates transactions in a fair way.

In a free but competitive society, as the one we live in, the competition factor is inevitable, and therefore, the Mediator should be loyal and respectful towards his colleagues, should have a cooperation spirit, be discreet and, in case it is asked by the client, should keep professional secret regarding the real estates transactions he promotes.

It is a private company, namely a small and medium-sized firm, the support of real estates professions, the deontological rules that are here foreseen, are obviously inspired on the general principles of our economical, political and social system.

Considering that all professional rules of ethical nature have an important role on the economical and social aspects of the profession, we have to distinguish commercial agents, salesmen, managers, administrators, experts, intermediaries, promoters and others, among the different sectors of the real estates activity, aiming to determine the true role that each one has.

In fact, if the experts or the administrators activities, for example, are closer to the liberal professions, the salesmen, on the other hand, practise an activity of a subordinative nature. But the rules should not be different from what they are.

In this Codes structure, and respecting the general principles of professional behaviour, the proposed rules will be classified in three (3) chapters, which will refer, respectively, to the generic duties, the relationship with the clients and the ones established with the colleagues.

We have to refer that this Code of Ethics has, in its foundations, the influence of international ethical rules of the activity, and the Portuguese legislation, applicable to the real estates sector.

In order to make easy its fully approval, the rules should have a pragmatic feature, because it is certain that we rather adopt a limited number of rules that are scrupulously observed, than create, in an exhaustive way, a number of rules that, in practise, are not respected.

In the real estate should the practise of illegal activities, which are civilian or criminally punished, be condemned, such as fraud, deceit and contracts against the law. The rules must be according to the legislation in force regarding, among others, the fiscal and accounting procedures, the activitys remuneration ways, the cooperation and competitions between companies, and the duties towards the public entity that controls the real estate mediation activity.

To sum up, what we want to control is the kind of behaviour and the specific duties of this profession, in order to adjust the activity to the demand for strictness, credibility and exemption, more and more pertinent and present, in order to favour the conditions to make suitable and indispensable the Mediators intervention in all real estates transactions.

 


Chapter I - Generic Duties
 

Article 1 - Objective

This Code of Ethics aims to determine the way the Real Estate Mediator should guide himself, when he is practising his profession.


Article 2 - General Duties

The Real Estates duties are, besides defending the interests that were trusted, taking care of his class prestige and improving the techniques regarding real estates transactions, showing himself worthy of the honour and responsibilities that he has.


Article 3 - Duties Accomplishment

The real Estate Mediator should accomplish, scrupulously and promptly, the duties entrusted in this Code of Ethics.


Article 4 - Preparation and Dignification Of The Activity

It is a fundamental duty of the Real Estate Mediator to have a good technical preparation, as well as be well informed of the conditions that regulate the market and its oscillations, so that he can carry out his functions with rigour, competence and professionalism, contributing for social progress, recognition and with Dignity to society as a whole.


Article 5 - Permanent Updating

The Real Estate Mediator should keep up with the evolution of all subjects of real estates nature, regional, national and community speaking, in order to be able to contribute to the consumers elucidation, as well as the public opinions in general, regarding urbanism, real estates legislation, or any other questions relating to real estates property.


Article 6 - Cooperation With The Class Association

In order to see its activity dignified and prestigious, the Real Estates Mediator should try to integrate and actively cooperate with the Class Association, so that it reinforces its institutional importance, which must, as main tasks, take care of the rights and interests defense of its associates, and to show the public opinion the economical importance and the social utility that the real estates mediation activity has, contributing to its organization and rules.


Article 7 - Relashionships With The Class Association

It is a duty of the Real Estates Mediator to look after the existence, goals and prestige of his Class Association, accepting the charges and responsibilities that may eventually be entrusted, and cooperating with the ones that were invested in any services of the social body, and should, when it is requested, cooperate and actively participate in its seminars, conferences, assemblies and other events.


Article 8 - Duties Of The Real Estates Mediator

The specific duties of the Real Estates mediator are:

a) Defend his clients interests;
b) Respect and give prestige to his class;
c) Permanently and constantly update;
d) Stand up for the application of the laws that rule his activity, as well as all the others that are applicable to him;
e) Not mediate nor promote illegal activities and/or that may question the activitys prestige, as well as the classes he belongs to;
f) Cooperate mutually with the clients, as well as with other Real Estates Mediators;
g) Refuse to mediate proceedings that he considers misfit from the market rules;
h) Ask for the opinion, when necessary, of the Class Associations;
i) Protest against law violations, of which he has effective knowledge;
j) Always expose any illegal situations or discrediting activities for the class;
k) Not encourage nor authorize the practise of deceiving publicity, exposing immediately that kind of situation;
l) Not make contracts against the law;
m) Always be in the possession of the professional identity card;
n) Negotiate with good faith, as well as respect the contracts he makes;
o) Not practice the legal advisor function;
p) Not practise disloyal competition.


Article 9 - Real Estates Mediator Rights

The rights of the real estates mediator are:

a) Right to professional seal;
b) Right to be paid for the services he rendered, according to the law in force;
c) Right to refuse charges or responsibilities that are degrading to his activity, or that are illegal;
d) Right to expose facts or behaviours that may indicate illegal executions;
e) Right to protest and communicate any consumers behaviour that is not upright;
f) Although the Mediator cannot practise legal advise, he can have the cooperation of a legal adviser to support him in his activitys practise;
g) The Mediator is free regarding his fees, but he should, however, act with moderation, according to the case, as well as the professional qualification degree that it is used;
h) Regarding other values and documents that he has in his possession, the mediator has the right to retain them as a guarantee of his fees payment;
i) He has the right to be supported by the relating Association, benefiting from fact that he is an associate, and as long as he has accomplished all his obligations.


Article 10 - Exposure Of Illegal Behaviour

The Real Estates Mediator should cooperate with the public entities that have as a mission the inspection and control of the real estates mediation activity nation wide, always exposing behaviours or facts that seem illegal.


Article 11 - Rights And Interests Protection

1. The Mediator should protect himself against improper behaviours by the consumers, regarding the defamatory behaviour that may be done against him, the violation of rules that regulate this activitys subject, or even the disrespect of the executed agreements.

2. Its up to the professional organizations of this sector to make an effort to explain the relevance of the activity, by means of opinion articles on the press, conferences, seminars, personal contacts and others, that may eventually be adequate.


Article 12 - Previous Information

The Real Estates Mediator should be aware of all the essential facts concerning each deal, which is object of mediation, before accepting it, in order to be able to accomplish his obligations, avoiding facts dissimulations essential to the deal, or the omission of details that are degrading to the profession, as well as the confirmation of other mistakes or excesses.


Article 13 - Signing False Documents

The Real Estates Mediator should not sign any document that has elements that do not correspond to reality, due to the fact that they are false or simulated.


Article 14 - Forbidding Of The Practise Of Functions That Are Execlusive Of Other Professions

The Real Estates Mediator shouldnt practice the function of legal advisor, or practise any acts that are legally and exclusively attributed to other professions, and should also recommend the intervention of a lawyer or a solicitor when higher interest of one party or another demand it.

However, he can, when he is practising his activity, be supported or ask for the advise of a legal advisor.


Article 15 - Sums Handed Over By Third Persons

The Real Estate Mediator should keep in a bank account the sums that he has, if he is unable to do it immediately, and that have been handed out to him by third persons when practising his activity, committing himself to hand them back, as soon as possible, to the clients.


Article 16 - Publicity Ways

With his publicity the Real Estates Mediator should have special care in doing an exact description of the deal he is proposing, and shouldnt publish advertise adds without indicating the social designation of the company and the licences number that enables him to practise the activity, giving his co-workers professional identity cards, so that they can be showed when asked.


Article 17 - Bonding Ways

To protect all interested parts, the Real Estates Mediator should be sure that all the commitments that involve available money and the agreements concerning real estates transactions are made by writing, assuring that all parties are in the possession of a copy of the contracts after they are made.


Article 18 - Sectors Publications

The Real Estates Mediator should stimulate the professional organizations to create schools for professional training, as well as to set up newspapers, magazines or other specialized periodical publications, that give the activitys professional and the public accurate, updated and clear information.

 


Chapter II - Relationship With The Client
 

Article 19 - Duties Towards The Clients

When he is making a real estates mediation contract, the Real Estates Mediator assumes the compromise to protect and promote the clients interests. The duty of absolute honesty towards the client, which is primordial, does not dispense, however, the Mediator from his obligation to look after, in a committing way, of all interested parties in the deal.


Article 20 - Diligences On Contracts Execution

It is a duty of the Real Estate Mediator to render the clients his services in a diligent way, being his obligation to make sure that the contracts are made by means of writing, written with precision and without misunderstandings, and should be signed by all the intervenient parties.


Article 21 - Capacity And Legitimacys Control

The Mediator should confirm, before the mediation contracts execution, the capacity and legitimacy to of the intervenient parties to contract, as well as make sure, through the available means, if the features of the property, which is object of the contract, match with the ones given by the interested persons, and if it has any onus or charges.


Article 22 - Representation Of Both Parties

If the Real Estate Mediator represents more than one party that intervene in the transaction, he should only accept remuneration from the party that hired him first, unless there is an expressed agreement between all parties interested in the deal saying otherwise.


Article 23 - Remuneration For The Services Rendered

It is a duty of the Real Estates Mediator to only charge the services he has actually rendered, and according to the remuneration values previously agreed in the celebrated contract.


Article 24 - Defense Of The Comsumers Interests

It is a duty of the Real Estate Mediator not to lead the public consumer in error, not to use the resort of deceiving publicity, and should also keep away from illegal practises, such as abuse of confidence, fraud or deceit, as well as oppose to the celebration of any kind of contract that is unfair or against the law.


Article 25 - Exclusivity

Although the exclusivity requisite is not compulsory, the Real Estates Mediator should stimulate and promote the mediation practise in an exclusive way, in order to avoid misunderstandings and disagreements and to better serve the client, being, however, acceptable that the real estates mediation practise in exclusive should be limited to a period of time previously settled.


Article 26 - Accounts Rendered

1. As soon as the deal is perfect and concluded, or in any other situation that it is justified or asked by the client, the Real Estate Mediator should render, in a detailed way, the accounts concerning the expenses and fees.

2. It should be given a receipt or any other legally valid document, about any sums of money that the client pays the Mediator for his services, or any similar bond that is given.


Article 27 - Evaluations

The Real Estates Mediator should only execute market evaluations when they requested by the client, and should not do any technical real estates evaluation that go beyond his experience and professional knowledge, without the help of an expert. Under these conditions, the expert should be recognized as one, and the limits of his intervention clearly defined.


Article 28 - Consideration When Evaluating

When the Real Estate Mediator has to do a markets evaluation of a property, due to a clients request, he should not give his opinion without a complete and detailed analysis of the factors that may determine the propertys value.


Article 29 - Authorization For Mediation And Price

1. The Real Estates Mediator shouldnt promote nor announce a property, for which he doesnt have an authorization or order from the interested person.

2. The price indicated on the deal he wants to promote should be previously adjusted with the client, being then considered the proposed price.


Article 30 - Reception Of Several Propositions

When more than one offer about the property is received from potential buyers, and the owner hasnt showed any intention of accepting them, the Real Estates Mediator should submit them to his clients appreciation, so that he can decide about them.

 


Chapter III - Relationship With The Colleagues
 

Article 31 - Loyalty Duty

The Real Estates Mediator shouldnt try to obtain any disloyal advantages over his colleagues concerning any deal, and should be able to share with them the product of his studies and professional experiences.


Article 32 - Urbanity Duty

It is a duty of the Real Estates Mediator not to comment or criticize, before third persons, the mediation services rendered by a colleague. However, if in any circumstances, his opinion is asked, he should express it with integrity and professional courtesy, as he should.


Article 33 - Legal Disputes With Professional Of The Sector

The Real Estates Mediator should carry out his deal in a way to avoid legal disputes with his colleagues. In case of a legal dispute between professionals, who belong to the same Class Association, this conflict could be object of a conciliation assumed by this entity, in order to apply these Codes rules.


Article 34 - Cooperation Duty During a Lawsuit

The Real Estates Mediator, who is aimed at a claim by any other colleagues of his profession or by clients regarding performances against the professional ethic that are foreseen in this Code or in the legislation in force, should make available to the competent public entities, when it is required, all the documentation and papers concerning the deal, in order to clear up eventual responsibilities.


Article 35 - Respect When Requiring Exclusivity

According to what is foreseen on article 25 of this Code, the professionals should respect all situations, in relationships settled between them and also with the clients, in which by means of a real estate mediation contract had been foreseen the attribution of the exclusivity clause to a Mediator.


Article 36 - Remuneration Distribution

The distribution of remunerations between Mediators, in situations in which they intervene together on the same deal, should always be done over previously settles basis, to avoid any legal dispute when the deal is concluded.


Article 37 - Cooperation Between Mediators

When several professionals of the sector propose the mediation of the same offer without the resort to the exclusivity regime, they can cooperate, exchanging information about available products or introducing potential interested persons for the deal that other colleagues have, being the basis of the agreement and the distribution of the relating commissions freely settled between the parties.


Article 38 - Real Estate Signs

The information plaque, whose adds have expressions like: "for sale", "for exchange", "to rent", and other similar to these posted in a property, should not be posted by more than one Real Estates Mediator, and should only be done with the owners authorization, unless this authorization had been given to several mediators jointly.


Article 39 - Disloyal Competition

Although it is not settled any minimum remuneration chart, the Real Estates Mediator should not offer his services for amounts that, either fixed or percentages, are greatly inferior to the ones usually practised by his profession colleagues, in the region where the deal is made, in order to avoid disloyal competition.


Article 40 - Appliable Rules

In everything that is not foreseen in this Code of Ethics, it will be applied the legal rules considered to be competent, to regulate the relating matters.

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