CODE OF ETHICS AND
RESPONSIBILITIES
FOR REAL ESTATE SERVICE PRACTITIONERS
ARTICLE I
SCOPE AND COVERAGE OF THE CODE
OF ETHICS
As used in this Code, the Real Estate Service
Pursuant to Section 5 (f), Article II and Section
profession shall embrace all acts of the Real
35, Article IV of Republic Act (RA) No. 9646,
Estate Consultants, Real Estate Appraisers,
otherwise known as "Real Estate Service Act of
Real Estate Assessors, Real Estate Brokers, and
the Philippines," the Professional Regulation
Real Estate Salespersons as provided for in
Commission (Commission), through the
Section 3(g), Article I and Section 27, Article IV
Professional Regulatory Board of Real Estate
of RA No. 9646 as well as of juridical entities
Service (Board), hereby adopts and engaged in the practice of real estate service
promulgates the "Code of Ethics and in accordance with Section 32, Article IV of RA
Responsibilities," after series of consulation No. 9646
with different national real estate
associations/organizations. This Code shall Provide for the standards that
will guide the real estate service practitioner in
the lawful, ethical and professinal practice of
their respective professions.
PREAMBLE
The Real Estate Service practice is an honorable ARTICLE II
profession that has a vital role in the social, GENERAL PROVISIONS AND DECLATION
political and economic development and progress OF PRINCIPLES
of the country. With highest regard for the Section 1. The Real Estate Service Practitioners
mandates of the law, the Board aspires to (Practitioner) shall uphold the Constitution and
produce, develop and nurture a corps of all the laws of the Republic of the Philippines.
technically competent, responsible and respected
professionals whose standards of practice shall
Section 2. The Practitioner shall exercise the
be nationally and globally competitive.
profession with utmost integrity, fidelity,
responsibility, sincerity, respect and courtesy.
Toward this end, " The Code of Ethics and
Responsibilities" is hereby adopted and
Section 3. The Practitioner shall comply with
promulgated to govern the duties and
the policies, rules and regulations promulgated
responsibilities of the real estate service
by the Board and the Commission.
practitioners to the general public, the
government, the client, the fellow practitioners
and the Accredited and Integrated Professional
Section 4. The Practitioner shall uphold the
generally accepted local and international
Organization (AIPO).
technical and ethical standards related to the
practice of the profession.
Section 5. The Practitioner shall promote the
values of camaraderie, unity, solidarity, and
synergy in his/her professional relationship.
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ARTICLE III
(b) The Practitioner shall exercise good faith in
protecting and promoting the interest of the
PROFESSIONAL RULES OF ETHICS AND
client vis-à-vis that of the other parties
RESPONSIBILITIES
concerned.
Section 1. TO THE GOVERNMENT
(a) The Practitioner shall always set a good (c) The Practitioner shall strictly observe client-
example as a responsible law-abiding citizen.
"This new fabric is
practitioner confidentiality.
(b) The Practitioner shall secure all necessary
(d)
a company patent
The Practitioner shall
disclose all pertinent and material facts involved
fully and truthfully
and we're
licenses, permits and authority as may be
in the engagement.
required by law, ordinances, or rules and
regulations .
confident it will be
(e) The Practitioner shall charge or collect
a great addition
professional fee which is fair and reasonable in
(c) The Practitioner shall pay correct taxes
accordance with real estate industry practice.
and fees required by law. They shall not
encourage, tolerate or participate, directly or to our collection."
(f) The Practitioner shall not accept
indirectly, in the evasion or illegal reduction of
professional fees or valuable consideration from
any payment that is due to the government.
other parties unless with full disclosure and
permission from the client.
Section 2. TO THE GENERAL PUBLIC
(a) The Practitioner shall contribute to the (g) The Practitioner shall always maintain
promotion of the common good by engaging in transparency in all dealings with the client.
social responsibility activities and initiatives.
Section 4. TO FELLOW PRACTITIONERS
(b) The Practitioner shall cooperate with the (a) The Practitioner, in the exercise of his/her
government and the AIPO in protecting the rights and in the performance of his/her duties
public against fraud, misrepresentation and and responsibilities, shall act with fairness, justice
and good faith.
unethical practices of licensed, unlicensed, and
unauthorized individuals or parties that
(b) The Practitioner shall respect the dignity,
adversely affect the integrity of the profession.
honor, good reputation, and privacy of fellow
practitioners.
(c) The Practitioner shall enhance his/her
competency, proficiency and expertise in the
(c) The Practitioner shall use or furnish
practice by keeping abreast of the latest trends
transactional document(s), only upon the written
and developments in the field of real estate
consent of the practitioner/s from whom such
service through the involvement in Continuing
documents originated.
Professional Development activities.
Section5. TO THE ACCREDITED AND
(d) The Practitioner shall participate in the
INTEGRATED PROFESSIONAL ORGANIZATION
proactive development of real estate service by
(AIPO)
imparting knowledge, technical training,
(a) The Practitioner shall support the AIPO by
experiences, studies or research, except those
actively participating in its programs and
that are deemed classified or confidential
activities
which may only be disclosed upon the consent
of the parties concerned or lawful order of
(b) The Practitioner shall abide by the
competent authorities.
procedures on mediation, conciliation and
arbitration of grievances or disputes shall, as
Section 3. TO THE CLIENT far as practicable, exhaust all possible
(a) The Practitioner shall be honest and
administrative remedies within the context of
trustworthy and shall observe sincerity,
the AIPO Bylaws before elevating the same to
impartiality, fairness, and loyalty in his/her
the jurisdiction of the Board and/or
professional practice.
Commission, and/or to any court or tribunal.
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ARTICLE IV
SPECIFIC DUTIES AND
RESPONSIBILITIES
Section 1. The Practitioner shall live up to the
tenets enshrined in the Oath of Professional
which he/she has sworn to abide by in the
practice of the profession.
Section 2. The Practitioner shall provide
his/her services in a competent, dedicated and
ethical manner compatible with the
independence and integrity of profession.
Section 3. The Practitioner shall faithfully
comply with this Code of Ethics and
Responsibilities as well as with the separate
Codes that will hereinafter be issued for each
of the real estate service disciplines. These
separate Codes shall be considered as integral
parts of this Code of Ethics and Responsibilities
after their approval and promulgation.
Section 4. The Practitioner shall honor and
abide by its commitments with other parties:
Provided, that such agreement is in consonance
with the laws, public order, public policy,
morals, good custom and this Code.
ARTICLE V
FINAL PROVISION
Subject to the requirements of due process,
any violation of this Code of Ethics and
Responsibilities shall guve rise to the imposition
of sanctions such as reprimand, suspension or
revocation of license and other penalties
pursuant to Section 19, Article III Section 39,
Article V of RA No. 9646, whatever is
appropriate.
ARTICLE VI
EFFECTIVITY
This Code of Ethics and Responsibilities shall
take effect after (15) days following its
publication in the Official Gazette or any
newspaper of general circulation in the
Philippines.
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