RE/MAX Code of Ethics

Code of Ethics
Adopted August 1, 1994 by RE/MAX Europe.

Preamble
This Code of Ethics has been prepared and adopted by RE/MAX Europe. It is intended to promote the ethical and professional operation of the RE/MAX real estate organization. All RE/MAX Europe Regional Directors, Franchisees and Sales Associates (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 dealings with other real estate brokers, agents or salespersons, including other RE/MAX affiliates („Real Estate Professionals“). It is the hope of RE/MAX Europe 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: All RE/MAX Affiliates shall keep informed of all relevant matters affecting real estate in their community, town, city, province and country.

Article 2: All 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, including, but not limited to, the Unfair Competition Act.

Article 3: All RE/MAX Affiliates shall undertake to receive regular, periodic training and 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 4: All 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 5: No RE/MAX Affiliates shall seek any unfair advantage over any other Real Estate Professional.

Article 6: In the conduct of their business, all RE/MAX Affiliates shall strive to avoid controversy with other Real Estate Professionals.

Article 7: No RE/MAX Affiliate shall publicly disparage the business practices of another Real Estate Professional 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 8: 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 9: 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 10: Every 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 11: All 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.

Article 12: 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 a substantial ownership interest, property listed with him/her, without making the true position known 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 13: 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 disclosing such interest at the time of the recommendation or suggestion.

Article 14: All RE/MAX Affiliates shall recommend to their clients that legal counsel be obtained when the interest of the client requires it.

Article 15: 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 16: Every RE/MAX Affiliate shall provide at least that level of competent service 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 17: 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 18: 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 19: Any RE/MAX Affiliate representing a seller of property shall disclose such relationship to buyers at the first available opportunity.

Article 20: All 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 21: RE/MAX Affiliates shall disclose the existence of an accepted offer to any broker, agent or salesperson seeking cooperation.

Article 22: RE/MAX Affiliates shall not enter into any arrangement to accept compensation from more than one party to a transaction without full knowledge of all of the parties.

Article 23: All RE/MAX Affiliates shall maintain a special bank account, separated from their own funds, for amounts coming into their possession in trust for other persons.

Article 24: 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 25: Signs giving notice of property for sale, rent, lease or exchange shall not be placed on property without the consent of the owner.

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 transaction, or from making similar representations.

Article 27: 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, are notarized, express the exact agreement of the parties, and otherwise conform to local legal requirements.

Article 28: At the 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 29: 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 30: 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 31: RE/MAX Affiliates 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 32: 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, nor invite the cooperation of, a third party broker, agent or salesperson without the consent of the listing broker, agent or salesperson.

Article 33: 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 34: 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 35: 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 36: 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 37: 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 38: 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 Europe 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 Europe. This Code of Ethics may also be amended by a Regional Director, with the approval of RE/MAX Europe, for use in a particular region in order for it to conform to the customs and practices of Real Estate Professionals in such region. The term „Code of Ethics“ as used herein shall refer at all times to the RE/MAX Europe Code of Ethics as it may be amended from time to time.

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