How do you know what RECO Code of Ethics really means? Here are two scenarios of how the directive for fairness and honesty can play out in a REALTORS® dealings with the public.
FAIRNESS, HONESTY, ETC.
3. A registrant shall treat every person the registrant deals with in the course of a trade in real estate fairly, honestly and with integrity. O.Reg.580/05, s.3.
A salesperson is showing his client’s home to a buyer at an open house. The buyer, who is not represented, asks for advice regarding the home’s structural condition. The salesperson advises the buyer that he is representing his seller client, but in honesty informs the buyer that most buyers seek the assistance of a home inspector to evaluate structural and related matters.
Not Mislead a Customer
A salesperson representing the seller is asked by a buyer if there are any plans to develop vacant land adjacent to the listed property. The salesperson is aware of published municipal discussions about proposed development of the lands, but knows that no official decision has been made. The salesperson tells that buyer that no decisions regarding development of the land have been made, but that the municipality is reviewing the issue and should be contacted if the buyer wants further information.