Ethical Practice in Real Estate

In this section you will demonstrate your skills and knowledge in relation to: -
Explaining statutory and industry standards and codes of practice or codes of conduct for ethical practice in real estate.
Describing ethical practice standards for privacy, confidentiality and security of customer information.
Explaining ethical standards for privacy, confidentiality and security of customer information; disclosure of material facts, conflict of interest and referrals and price guide recommendations
Describing communication strategies for clear representations of consumer rights and responsibilities and complaint resolution processes
Demonstrating appropriate communication strategies explaining ethical practice in your relationships with clients, customers and others

You will need to access legislation and research information and/or visit a local agency to assist with your responses for this task. In particular you are to research the main requirements of consumer protection legislation and the consumer protection requirements of the ACCC and NSW Fair Trading. You should use a variety of sources to gather information including training resources, workplace policies and procedures, legislation websites and government and industry bodies websites.

a. Statutory and industry standards and codes of practice or codes of conduct for ethical practice in real estate.
What are the main codes of conduct that govern real estate agents ethical considerations in operation areas of: -
Sales, AND
Property management
(In your answer identify the Regulation by its full name and give the relevant Schedule and Rule number of the Code of Conduct you are referring to)

Statutory and industry standards and codes of practice or codes of conduct for ethical practice in real estate.
What are the main codes of conduct that govern real estate agents ethical considerations in operation areas of: -
Sales, AND
Property management
(In your answer identify the Regulation by its full name and give the relevant Schedule and Rule number of the Code of Conduct you are referring to)