The real estate industry is largely responsible for creating and maintaining an open housing market. Licensees are a community’s real estate experts. Along with the privilege of profiting from real estate transactions comes the social and legal responsibilities to ensure that everyone’s civil rights are protected.
Fair housing is the law. The consequences for anyone who violates the law are serious. In addition to the financial penalties, a licensee’s livelihood will be in danger if his license is suspended or revoked. That the offense was unintentional is no defense. Licensees must scrutinize their practices with care and not fall victim to clients or customers who maneuver to discriminate. All parties deserve the same standard of service. Every future Homeowner has the right to expect fair and equal treatment, with house showings based only on his stated needs and financial capability. A good test is to answer the question, “Are we providing this service for everyone?”
Standardized inventories of property listings, standardized criteria for financial qualification, and written documentation of activities and conversations (especially if the licensee senses a client wishes to act in a discriminatory way) are three effective means of self-protection for licensees.
HUD requires that its fair housing posters be displayed in any place of business where real estate is offered for sale or rent. Following HUD’s advertising procedures and using the fair housing slogan and logo bolsters public awareness of the licensee’s commitment to equal opportunity.
Professional Ethics
Ethics refers to a high moral system of principles, rules, and standards based on conduct and values. The ethical system of a profession establishes guidelines that reach to the higher principles of what is “right.” Those principles may form the law, but they exist apart from the law. Professional ethics in business usually focus on two main aspects of the profession:
Code of Ethics
One way that many organizations address ethics among their members or in their respective businesses is by adopting specific, written codes of ethical conduct. A code of ethics is a written system of standards for professional, values-based conduct. The code contains statements designed to advise, guide, and regulate job behavior. To be effective, a code of ethics must be specific by creating rules that either prohibit or encourage certain behaviors. By including sanctions for violators, a code of ethics becomes more effective.
