Code of Ethics

Real Estate Institute of Queensland - Code of Ethics

As an industry leader and representative the REIQ has a reputation for encouraging the highest ethical standards among its members. Members of the Institute are responsible for conducting business in a manner that will uphold and enhance the reputation of the real estate profession, and as such, abide by the REIQ Code of Ethics below:

Article 1. Loyalty to the Institute
In the best interests of the public, the Institute, and its Members, a Member must always be loyal to the Institute and must never publicly criticise a fellow Member. No instructions or inducements from any person will relieve Members of their responsibilities to strictly observe this Code of Ethics.

Article 2. Complaints & Disputes to be Submitted to the Institute
2.1 Members must conduct their business so they minimise controversies and avoid conduct that demeans the Institute or is contrary to good agency practice. In all dealings, Members must treat each other in a manner that does not disadvantage existing negotiations and with strict professional conduct and integrity.
2.2 A complaint or dispute between Members should be submitted to the Institute for adjudication in accordance with the By-Laws of the Institute.
2.3 When a Member is charged with unethical practice, the Member must provide all relevant facts and documents to the Institute for investigation and judgment.

Article 3. Professional Courtesy
3.1 If a prospective customer expresses interest to a Member in a property previously inspected with another Member, the Member must treat that other Member with mutual respect.
3.2 Members must take steps appropriate to the circumstances to ensure that their actions are in accordance with those outlined in Article 2.1.
3.3 In addition, to be awarded commission totally or in part, a Member must have contributed effectively to the transaction.

Article 4. Inducements
Where a Member has entered into an agency contract or appointment, other Members must neither induce nor attempt to induce a breach of or interference with that arrangement.

Article 5. Conjunctional Arrangements
5.1 Members should be willing to act in conjunction if it is in the client’s best interest.
5.2 The basis of conjunction on which the Members will operate must always be confirmed in writing. A conjunction, once established, will be irrevocable unless the listing agent’s authority is terminated by the owner.
5.3 Negotiations under a conjunctional arrangement must be conducted through the listing agent.

Article 6. Controlled Agency
6.1 Where a Member secures a controlled agency over a property or property management previously listed with another Member, the Member must take appropriate steps to ensure that the previous Member is notified of that appointment.
6.2 A controlled agency must be respected by all Members.

Article 7. Confidentiality
It shall be unethical for a Member to reveal any information without the client’s authority.

Article 8. Agent to Act Fairly
In accepting an agency, a Member pledges to protect the interest of the client as the Member’s first responsibility. Additionally the Member should be fair to the customer.

Article 9. Agent Responsible for actions of Employees
Members will, at all times, be responsible for the actions of employees in their business relations with Members, clients and customers, in accordance with this Code of Ethics.

Article 10. Non-Portability of Information
It shall be unethical for a Member to use the business information that is the property of the previous employer.

Article 11. Duty to Ascertain Facts
It is the duty of a Member to act professionally and to ascertain all available pertinent facts concerning the property accepted under an agency so that, in offering the property, the Member may avoid error, exaggeration, concealment or misrepresentation.

Article 12. Protection Against Misrepresentation/Offensive Behaviour
It is the duty of every Member to protect the public against fraud, misrepresentation, offensive behaviour or unethical practices in real estate transactions.

Article 13. Signs
A Member placing a sign on a property must ensure that:
13.1 The authority of the owner, body corporate or government authorities, as applicable has been given and that the sign does not obscure another Member’s sign.
13.2 Other signs are not interfered with except by the owner’s instruction with all reasonable steps being taken to preserve the removed sign/s.

Interpretation:
“Agency” means a listing controlled or otherwise or property management appointments.
“Member” means and includes any office or person who has been admitted to any class of membership.
“Institute” means The Real Estate Institute of Queensland (REIQ).
“Client” means one who retains a Member agent to represent his/her interest in a real estate transaction.
“Customer” means one who transacts business with a Member agent.
“Employee” means someone who works at the direction of a Member.
“Controlled Agency” means any type of sole or exclusive agency.