While the code of ethics establishes obligations that may be higher than those mandated by law, in any instance where the Code of Ethics and the law conflict, the obligations of the law must take precedence. The term TELANGANA REALTORS FORUM has come to the connote competency, fairness and high integrity resulting from adherence to a lofty ideal of moral conduct in business relations. No inducement of profit and no instruction from clients ever can justify departure from this ideal.
DUTIES TO CLIENTS AND CUSTOMERS
When representing a buyer, seller, landlord, tenant, or other client as an agent, TRF Members pledge themselves to protect and promote the interests of their client. This obligation to the client is primary, but it does not relieve TRF Members of their obligation to treat all parties honestly. When serving a buyer, seller, landlord, tenant or other party in a non-agency capacity, TRF Members must remain obligated to treat all parties honestly.
Members shall cooperate with other brokers / other TRF Members, except when cooperation is not in the client’s best interest. The obligation to cooperate does not include the obligation to share commissions, fees, or to otherwise compensate another broker.
MEMBERS shall not acquire an interest in or buy or present offers from themselves, any member of their immediate families, their firms or any member thereof, or any entities in which they have any ownership interest, any real property without making their true position known to the owner or the owner’s broker. In selling property they own, or in which they have any interest, TRF Members shall reveal their ownership or interest in writing to the purchaser or the purchaser’s representative.
Members shall not undertake to provide professional services concerning a property or its value where they have a present or contemplated interest unless such interest is specifically disclosed to all affected parties.
In a transaction,TRF Members shall not accept compensation from more than one party, even if permitted by law, without disclosure to all parties and the informed consent of the brokers, client or clients.
Members shall keep in a special account in an appropriate financial institution, separated from their own funds, monies coming into possession in trust for other persons, such as escrows, trust funds, clients monies, and other like items.
Members for the protection of all parties shall assure whenever possible that agreements shall be in writing, and shall be in clear and understandable language expressing the specific terms, conditions, obligations and commitments of the parties. A copy of each agreement shall be furnished to each party upon their signing or initialling.
If charged with unethical practice or asked to present evidence or to cooperate in any other way, in any professional standards proceeding or investigation, TRF Members shall place all pertinent facts before the proper tribunals / arbitration boards of the Member Association or Affiliated institute, society or council in which membership is held and shall take no action or disrupt or obstruct such processes.