Professional Standards - Above the Law

Realtors affiliated with their local boards across Canada are bound to a strict standard of professionalism and competency. The Canadian Real Estate Association Code of Ethics is a document that outlines and specifically addresses certain issues encountered when buying or selling your home. For a complete reprint, go to: http://www.crea.ca/public/realtor_codes/code_of_ethics.htm

In general, the standards put forth in this document are more demanding than the law itself requires (for instance in the Real Estate and Business Brokers Act - REBBA). While the standards are not necessarily legal requirements, REALTORS who break the code stand to possibly face disciplinary action. Below are some of the topics covered in the CREA Code of Ethics:

- Keeping clients informed an up to date: Upcoming legislation, Financing, Content of Forms

- Obligations to the client and customer: Misrepresentation of market value, misleading customers

- Disclosure of Agency

- Expenses known to all: Explaining fees for services

- Keeping clients informed an up to date: Upcoming legislation, Financing, Content of Forms

- Legal Counsel: Seek legal assistance for self and benefit of others

- Skill: Appropriate level of expertise

- Avoiding Controversies