This Code of Ethics has been adopted by RE/MAX Philippines (“RE/MAX”) for use in our region. It is intended to promote the ethical and professional operation of the RE/MAX real estate organization. All RE/MAX Franchisees and Sales Associates in the region (collectively,“RE/MAX Affiliates”) are bound by the provisions of this Code of Ethics and have pledged to abide by such provisions as well as the spirit of this Code of Ethics. The Code of Ethics covers the conduct of RE/MAX Affiliates in connection with transactions in general, dealings with clients, and dealing with other real estate brokers, agents and salespersons, including other RE/MAX affiliates (“Real Estate Professionals”). It is the hope of RE/MAX that this Code of Ethics will help guide all RE/MAX Affiliates so that they operate in a manner that enhances the reputation of the RE/MAX organization and ensures that RE/MAX is perceived by the public and others in the industry as being the most ethical, professional, skilled, experienced and successful real estate organization.
Article 1: RE/MAX Affiliates shall keep informed of all relevant matters affecting real estate in their community, town, city, province and country.
Article 2: RE/MAX Affiliates shall be familiar with all relevant laws, ordinances, rules, regulations, public policies, customs, standards and practices affecting real estate in their community, town, city, province and country.
Article 3: RE/MAX Affiliates shall provide at least that level of competent service, fairness, and high integrity ordinarily expected by the public in its dealings with a Real Estate Professional. No RE/MAX Affiliate shall render advice concerning matters that are beyond their professional expertise.
Article 4: RE/MAX Affiliates shall undertake to receive regular, periodic training, educational and/or informational updates with respect to technology, tools, skills and other matters relating to their careers as Real Estate Professionals in an effort to advance their careers.
Article 5: RE/MAX Affiliates shall undertake to eliminate any practice by Real Estate Professionals in their community which could be damaging to the public or bring discredit to the real estate profession. In keeping with this policy, litigation shall be undertaken by RE/MAX Affiliates only if it is necessary or unavoidable, or if all other appropriate dispute resolution alternatives have failed.
Article 6: No RE/MAX Affiliate shall engage in the unauthorized practice of law and shall recommend to their clients that legal counsel be obtained when the interest of the client requires it.
Article 7: At any time any party to a transaction signs or initials any document, RE/MAX Affiliates shall ensure that such party receives a copy of such signed or initialed document.
Article 8: No RE/MAX Affiliate shall mislead any seller, buyer, Real Estate Professional or other party to a transaction or use any deceptive or fraudulent practices in the conduct of his/her business.
Article 9: RE/MAX Affiliates at all times shall protect and promote the interests of their clients while simultaneously treating fairly all parties to a transaction.
Article 10: RE/MAX Affiliates shall preserve confidential information (as defined by community, town, city, province or country law) provided by their clients in the course of any professional relationship with their clients.
Article 11: No RE/MAX Affiliate shall knowingly, during or following the termination of professional
Article 12: RE/MAX Affiliates, to the extent possible, shall ensure that all financial obligations and commitments between Sales Associates and their clients regarding real estate transactions are in writing, express the final and complete agreement of the parties, and otherwise conform to applicable law.
Article 13: RE/MAX Franchisee shall maintain a special bank account in an appropriate financial institution, separated from their personal funds, for monies coming into their possession in trust for other persons, such as escrows, trust funds, and other like items.
Article 14: Signs giving notice of property for sale, rent, lease or exchange shall not be placed on property without the consent of the owner.
Article 15: No RE/MAX Affiliate shall acquire an interest in or buy for him/herself, any member of his/her family, his/her firm or any member thereof, or any entity in which he/she has substantial ownership interest, property listed with him/her, without making the true position know to the seller. In selling property owned by him/herself, or in which he/she has any interest, a RE/MAX Affiliate shall reveal the facts of his/her ownership or interest to the buyer.
Article 16: No RE/MAX Affiliate shall recommend or suggest to a client or a customer the use of services of another organization or business entity in which he/she has a financial interest without fully disclosing such interest at the time of the recommendation or suggestion.
Article 17: RE/MAX Affiliates, until the closing of a transaction, shall submit all offers to purchase to the seller as quickly as possible and in an objective and unbiased manner.
Article 18: RE/MAX Affiliates shall, within a reasonable time, disclose the existence of an accepted offer to any broker, agent or salesperson seeking cooperation.
Article 19: RE/MAX Affiliates shall not enter into any arrangement to accept compensation, rebate, or profit from more than one party to a transaction without full disclosure to all the parties.
Article 20: A RE/MAX Affiliate acting as the exclusive agent of a seller shall establish the terms and conditions of offers to cooperate. Cooperating brokers, agents and salespersons should not assume that an offer of cooperation includes an offer of compensation. Entitlement to compensation in a cooperative transaction must be agreed upon between the listing and cooperating broker, agent or salesperson prior to the time an offer to purchase the property is produced.
Article 21: A RE/MAX Affiliate shall avoid exaggeration, misrepresentation or concealment of pertinent facts relating to any property or transaction, and shall disclose all defects in property known to such RE/MAX Affiliate, which defects substantially affect such property’s value or affect the intended use of such property; RE/MAX Affiliates are not obligated, however, to discover latent defects in the property or advise on matters beyond their expertise.
Article 22: RE/MAX Affiliates shall not deny equal professional services to any person for reasons of race, color, religion, sex, handicap, familial status or national origin. RE/MAX Affiliates shall not be a party to any plan or agreement to discriminate against any person or persons on the basis of race, color, religion, sex, handicap, familial status or national origin.
Article 23: RE/MAX Affiliates shall present true and accurate information in their advertisements and/or representations to the public and shall not deceive or mislead the public in any way by:
Article 24: The services which RE/MAX Affiliates offer to the public shall conform to the standards or practice and competence which are reasonably expected in the specific real estate discipline in which they engage. RE/MAX Affiliates shall not undertake to provide specialized professional services concerning a property type or service that is outside their field of competence unless they engage the assistance of a person competent in such area.
Article 25: No RE/MAX Affiliate shall advertise or permit any person employed by or affiliated with him/her to advertise property for sale without disclosing the name of the RE/MAX office handling such transaction.
Article 26: Only if the RE/MAX Affiliate is the listing broker, agent or salesperson may he/she claim to have “sold” the property, even if the sale resulted through the cooperative efforts of another Real Estate Professional. However, after transactions have closed, the listing broker, agent or salesperson may not prohibit successful cooperating brokers, agents and salespeople from advertising their “cooperation,” “participation” or “assistance” in the transactions, or from making similar representations.
Article 27: No RE/MAX Affiliate shall seek any unfair advantage over any other RE/MAX Associate
Article 28: In the conduct of their business, RE/MAX Affiliates shall strive to avoid controversy with other Real Estate Professionals.
Article 29: No RE/MAX Affiliate shall knowingly or recklessly make publicly disparaging or misleading comments about a competitor, their business or their business practices, nor volunteer an opinion of another Real Estate Professional’s transaction(s). If the opinion of a RE/MAX Affiliate is sought and if such RE/MAX Affiliate deems it appropriate to respond, such opinion shall be rendered with strict professional integrity and courtesy.
Article 30: If a RE/MAX Affiliate is contacted by an owner of property regarding the sale of such property that is exclusively listed with another Real Estate Professional and the RE/MAX Affiliate has not directly or indirectly initiated the discussion, the RE/MAX Affiliate may discuss the terms upon which he/she might take a future listing or, alternatively, may take a listing to become effective upon expiration of any existing exclusive listing.
Article 31: In cooperative transactions, all compensation owing in connection with a transaction shall be paid to the office with which the Real Estate Professional is affiliated and not to the individual Real Estate Professional.
Article 32: Negotiations concerning property which is listed exclusively with a Real Estate Professional shall be conducted with such Real Estate Professional and not with the owner of the property, except with the consent of such Real Estate Professional.
Article 33: Any RE/MAX Affiliate who obtains information from a listing broker, agent or salesperson about property that is for sale shall not convey this information to, not invite the cooperation of, a third party broker, agent or salesperson without the consent of the listing broker, agent or salesperson.
Article 34: Any RE/MAX Affiliate representing a buyer shall disclose such relationship to the Real Estate Professional representing the seller at the first available opportunity.
Article 35: With respect to unlisted property, any RE/MAX Affiliate representing a buyer shall disclose such relationship to the seller at the first available opportunity.
Article 36: Any RE/MAX Affiliate representing a seller of property shall disclose such relationship to buyers at the first available opportunity.
Article 37: RE/MAX Affiliates may contact clients of other Real Estate Professionals for the purpose of offering to provide, or entering into a contract to provide, a different type of real estate service unrelated to the type of service currently provided by such other Real Estate Professional.
Article 38: No RE/MAX Affiliate shall solicit a listing which is currently listed exclusively with another Real Estate Professional. This shall not prohibit a RE/MAX Affiliate from soliciting such listing after its expiration. Moreover, if the listing broker, agent or salesperson refuses to disclose the expiration date and nature of a listing, a RE/MAX Affiliate may contact the seller to obtain such information and may discuss the terms upon which he/she might take a future listing or, alternatively, may take a listing to become effective upon expiration of any existing exclusive listing.
Article 39: No RE/MAX Affiliate shall solicit as a client, personally or by telephone, property owners who have been identified as having exclusively listed their property with another Real Estate Professional.
Article 40: No RE/MAX Affiliate shall distribute mail or other forms of written solicitations to property owners whose properties are exclusively listed with another Real Estate Professional when such solicitations are not part of a general mailing but are directed specifically to property owners whose properties are exclusively listed with another Real Estate Professional.
Article 41: Prior to accepting a listing, RE/MAX Affiliates have an affirmative obligation to make reasonable efforts to determine whether the property is subject to a current, valid exclusive listing agreement.
Violations of the Code of Ethics will be addressed by RE/MAX in a manner that it deems appropriate, acting in a fair and reasonable manner. Violations of the Code of Ethics may also be violations of certain contractual arrangements, possibly resulting in the disaffiliation of the RE/MAX Affiliate from the RE/MAX organization. The provisions of this Code of Ethics are subject at all times to applicable law. If any provision of the Code of Ethics is inconsistent with any applicable law, ordinance, rule or regulation, then such law, ordinance, rule or regulation shall control. This Code of Ethics may be amended from time to time by RE/MAX in order for it to conform to the customs and practices of Real Estate Professionals in a particular country or jurisdiction within your region. The term “Code of Ethics” as used herein shall refer at all times to RE/MAX Philippines Code of Ethics as it may be amended from time to time.
The undersigned does hereby agree to abide by the specific provisions as well as the spirit of RE/MAX Philippines Code of Ethics, as it may be amended from time to time.