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Guidelines of Fundamental Ethics and Rules

1. No estate agent shall –

(a) offer or undertake to offer the sale or let of immovable property without a mandate;
(b) accept or undertake to accept to purchase or rent immovable property without a mandate;

(c) unduly influence any person to confer upon that estate agent a mandate;
(d) accept a mandate in a transaction where that estate agent is not qualified or competent;

(e) inform a seller or purchaser of immovable property of a prospective offer to sell or purchase immovable property ,or a landlord or tenant of immovable property of a prospective offer to let or rent unless that offer is –
     (i) In writing; and
     (ii) the agent offers the property and informs the vendor of the offer as mandated;

(f) Knowingly or negligently make a material misrepresentation, in respect of the market or rental value of immovable property, to a vendor or lessor so as to obtain a mandate in respect of that property;

(g) During the course of business use a firm or trading name belonging to different estate agent or that resembles such name so as to deceive, or cause confusion among, the public,

(h) Willfully or negligently:-
  

   (i)prepare or cause any person to prepare an oral or written false statement;
   (ii) sign any false statement;
   (iii)maintain any false books of accounts and or other records; or
   (iv)Fail to present or cause an employee, agent or a partner to fail to present to a client an offer to sell or acceptance to purchase immovable property received prior to the execution of a contract of sale, unless the client has instructed the  estate agent not to present that offer to sell or acceptance to purchase;

(i) advertise immovable property in respect of which that estate agent is given a mandate to sell or let, at price or renal other than that agreed upon by the estate agent and the seller or lessor of that property;

(j) publish or cause to be published any advertisement which contain misrepresentation or false statements;

(k) affix a notice to immovable property indicating that the property is for sale or rent, or has been sold or let, unless the seller or lessor  has given written consent in the mandate to the estate agent to affix that notice;

(l) amend a provision of any document or agreement duly executed by a client without the consent of that client.

(m) present a competing offer to sell or an acceptance to purchase immovable property to a client in manner that induces a client to accept, an offer to sell or an acceptance to purchase, without due regard to the advantages and disadvantage of that offer or acceptance to the client.

2. An estate agent shall not accept to be appointed as estate agent to the exclusion of any other estate agent unless –

(a) the terms of acceptance of  a mandate or extension of that mandate are in writing, and signed by both the estate agent and the client;

(b) the expiry date of a mandate is recorded in writing;

(c) there is an option to extend a mandate; or

3. Where an estate agents, a power of attorney and a mandate to the exclusion of all other estate agents, the estate agent shall not accept to be conferred with that power of attorney and mandate unless the intention and effect of that power of attorney is contained in the document conferring the mandate.

4. Where a mandate is outside the field or competence of the estate agent, the estate agent shall accept that mandate by disclosing in writing to the client that the estate agent shall be assisted by a competent and qualified agent.

5. Unless the estate agent has disclosed in writing to the client that the estate agent has a conflict of interest with the client, the estate agent shall not accept a mandate from the client.

6. An estate agent shall –

(a) provide the purchaser or lessee of immovable property with all materials facts which are reasonably within the personal knowledge of the estate agent;
disclose to a client the name and terms of a franchise if that estate agent operates under a franchise;

(b) provide a client, in the estate agent’s capacity as estate agent, with information relating to the meaning and legal consequences of the provisions of an agreement prepared by the estate agent;

(c) refer to a client to a legal practitioner, where the estate agent is unable to provide the information prescribed in paragraph (c ); and

(d) duly furnish a client without delay a copy of an agreement in respect of which the estate agent has a mandate.

7. An estate agent carrying on a business of providing estate services as a sole proprietor or in partnership with another estate agent shall be liable in any civil action in respect of any act or thing done or omitted to be done by that estate agent, or by an employee, agent or partner of the estate agent.

 

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