RECO Rules and Principles PDF Print E-mail

A Member shall:

1. endeavour to protect and promote the best interests of the Member's Client,

2. endeavour to protect the public from fraud, misrepresentation or unethical practice in connection with real estate Transactions,

3. maintain and enhance the Member's degree of skill and competence,

4. render services, including giving advice and opinions, based on the Member's knowledge, training, qualifications and expertise,

5. deal fairly, honestly and with integrity with the public, other Members and third parties,

6. cooperate with the Council in fulfilling its duty to serve and protect the public interest,

7. comply with the Real Estate and Business Brokers Act and the regulations under it and the by-laws of the Council.

A Member shall endeavour to protect and promote the best interests of the Member's Client. This primary obligation does not relieve the Member of the responsibility of dealing fairly, honestly and with integrity with others involved in each Transaction.

At the earliest practical opportunity, but no later than when the Member Accepts an Agency, a Member shall fully disclose in writing the role and nature of the service that the Member shall be providing to the Person. The Member shall also disclose the Member's role to others involved in the Transaction when appropriate.

A Member shall enter into a written Representation Agreement with a Client at the earliest practical opportunity, and in all cases before any Offer to Purchase is submitted.

A Member shall disclose the financial aspects of a Transaction and any personal interest of the Member in a matter to the Parties sufficient to enable them to make an informed decision.

A Member shall ensure that Agreements regarding Transactions are in writing, expressing the specific terms, conditions, obligations and commitments of the Parties to the Agreement. A copy of each accepted Agreement shall be furnished to each Party upon its final Acceptance.

A Member shall not discourage the Parties to a Transaction from seeking outside professional advice.

A Member shall not disclose confidential information about the Client except with the Informed Consent of the Client or as required or authorized by law. The duty of confidentiality continues after the professional relationship with the Client has ended. A Member may disclose confidential information without consent in order to prevent or assist authorities to prevent, investigate or prosecute an offence, to defend the Member against an allegation by the Client of negligent or improper conduct.

A Member, when acting in a professional capacity, shall not physically, sexually, emotionally or verbally abuse a Client, a Customer, a member of the public, another Member, or any other third party.

A Member shall not make any statement or participate in the creation of any document or statement that the Member knows or ought to know is false or misleading.

A Member shall discover and verify the pertinent facts relating to the Property and Transaction relevant to the Member's Client that a reasonably prudent Member would discover in order to fulfill the obligation to avoid error, misrepresentation or concealment of pertinent facts.

A Member shall ensure that all documents and forms used are current and, where applicable, are in the form approved by the Council, and the Member shall explain to a Client or Customer, in reasonable detail, the documents and forms used in the Transaction.

A Member shall not negotiate with or make Offers to the Client of another Member respecting matters in which the other member is representing the Client without the knowledge, consent and involvement of the other Member.

A Member shall present all written Offers, including counter-offers, as objectively and as quickly as possible. The Member shall establish a system to ensure that all Offers are received and presented on a timely basis, including in the absence of the Member.

A Member shall only practice using the Member's name as registered with the Council.

A Member shall ensure that all advertising and promotion by or on behalf of the Member, including for Properties and services, is not false, misleading or deceptive. A Member shall not, when acting in a professional capacity, discriminate or participate in discrimination against any Person

A Member shall practice in accordance with all federal, territorial or provincial law or municipal by-law relevant to the Member's fitness to practice. A Member shall cooperate fully with any representative of the Council carrying on the Council's regulatory functions and duties including investigations and discipline. A Member shall give due consideration to the Member's duty of confidentiality in a Member's responses to any such representative of Council.

A Member shall remain informed regarding recent developments in real estate, the essential facts that affect current market conditions and present business practices in order to be in a position to advise the Member's Clients and to assist Customers in a responsible and competent manner.

A member shall not give an opinion or advice about the value of Property unless the Member has the knowledge, skill and training to do so for that type of opinion or advice and for that type of Property and the Member has done the necessary research.

A Member shall render conscientious service with the knowledge, skill, judgment and competence, in conformity with this Code of Ethics and the standards, which are reasonably expected of Member's. When the Member is unable to render such a service, either alone or with the aid of another Member, the Member shall decline to act. A broker shall be responsible for the professional conduct and professional actions of those Members registered with that broker.

A Member shall maintain reasonable records of the Member's professional services including any records specified by the Council.

A Member shall be financially responsible in the Member's practice of the profession.

A Member shall not engage in an act or omission relevant to the practice of the profession that, having regard to all the circumstances, would reasonably be regarded by Members or the public as disgraceful, dishonourable or unprofessional.

A Member shall not engage in conduct unbecoming a Member.



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bancroftrealestate@yahoo.ca

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