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The Code establishes a standard of conduct, which in many respects exceeds basic legal requirements. This standard ensures that the rights and interests of consumers of real estate services are protected. As a condition of membership, all REALTORS® agree to abide by the Code.
RECA developed the Licensee Standards of Conduct to assist consumers with understanding the conduct expected of industry licensees. The Standards of Conduct are plain-language summaries of Part 2 of the Real Estate Act Rules, Industry Standards of Practice.
The term used in the Real Estate Act, Rules, Regulations and Bylaws to refer to any person who is authorized by RECA to trade in real estate, deal in mortgages or provide real estate appraisal services in accordance with the Real Estate Act.
Professionalism is a standard of conduct based on ethics that govern the real estate industry. Professionalism means: • fulfilling fiduciary obligations and acting in the best interest of clients • providing competent business services to the public with integrity • being knowledgeable in your area of practice, including legislative
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It symbolizes a commitment to competence, service and professional conduct. In the quest for these high standards, REALTORS ® in Canada have been bound together by a Code of Ethics since 1959.
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At its core lies the real estate code of ethics, a set of principles and guidelines designed to govern the conduct of real estate professionals in this field. In this introductory section, we look into the fundamental aspects that define the ethical landscape of real estate.
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Professional conduct This bulletin explains the professional conduct expectations of brokerages and real estate agents, under the Code of Ethics regulation. Summary All agents play a role in supporting the reputation of the sector generally, and in maintaining public confidence in the regulation of the sector.