CODE OF ETHICS

OF
REAL ESTATE SERVICE
PRACTICE

RODRIGO B. MALLONGA
CE, REB, REA, REC, EnP, MBA, LLB, DPA
Accredited Lecturer / Speaker on Real Estate Trainings / Programs, PRC
# 113
Accredited Real Estate Training Service Provider,
DTI # 001 dated August 18, 2009

REALTY PRACTICE
A noble profession, calling or an
occupation dedicated to the
promotions, development and
conservation of land and natural
resources for the benefit and
enjoyment of the Filipino people
(DOJ Opinion 113, S 1995)

REALTY PRACTICE
And

since it is a noble profession

Those who engage in it are mandated by

the Code of Conduct, morals and values
in the performance of their duties and
obligations to the government, public
and co-practitioners.

DECLARED POLICIES

It is a noble profession, calling or occupation

Those engaged thereto must abide and comply with

all the existing government laws, decrees, orders,
rules and regulations

Practitioners must observe the following in relation

to Clients, Public and Government:
Utmost Fidelity
Sincerity
Respect for Colleagues
Honesty

Declared
Policies

Maintenance of adequate, competent

knowledge and expertise in realty
developments and management vis--vis the
improvement practice standards
Professional camaraderie, cooperation,
respect and relationship shall be promoted
and maintained by respecting the rights of
other practitioners
Professionals must always perform functions
and conduct dealings with fairness, honesty
and justice; and
Live by the Golden Rule

RULES OF CONDUCT IN DEALING WITH:

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RELATIONSHIP WITH THE GOVERNMENT

Secure

the necessary licenses or permits

Payment of all taxes, fees, dues, or other government

fees

Support government projects & land development

activities

Non-tolerance and participation on evasion of taxes,

fees, dues, levies or other payment of govt. charges

Non-splitting of Commission to a non-license practitioner

Indicating License number in ALL realty transactions-letterhead, signboard, call cards, dry seal, advertising
materials and the like.

Relationship with the

Always

PUBLIC

remember social responsibility

Ensure best & highest use of land and equitable ownership

distribution

Updated knowledge affecting realty in the community

Cooperate and support in protecting public against

deceptive, unfair & unscrupulous acts and practice

Ascertainment

of all relevant & material facts affecting

every property
Avoid introduction of means that will impair or erode
property value within the community

Relationship with the

PUBLIC
Should

not be a party to naming of false

consideration in a deed or instrument

Keep segregate and separate funds for trust

Advertisements

must reflect truth on the property,

its improvements, rights, liens and encumbrances

Should always indicate his/her name, firm name

and license number in every advertisement and
placements made

- In case of Salesperson, Brokers name, and

license number whom employed

See to it that all agreements, terms and conditions

are in writing and duly signed by all the parties
and is properly authenticated by a Notary Public

Relationship with the

CLIENTS/CUSTOMERS

Protect and promote clients/customers

interest with utmost fidelity and good faith

Endeavor to update knowledge on the

latest legislations, policies on realty
programs which may affect clients interest

Not to accept commission from any party,

unless with clients consent

Should not introduce or work for an

overprice

Relationship with the

CLIENTS/CUSTOMERS

Collects reasonable and fair professional fees

None advertisement of property without

proper Authority and price quoted shall be an
agreed price

Present all formal offers to the property

owner for sound decision

Endeavor to mediate Client and CustomerBuyer to agree on a fair and reasonable price

Relationship with the

CLIENTS/CUSTOMERS

Provide

proper customers assistance

for acquisition, possession and
ownership of the acquired property
relative to the agreed terms and
conditions;
Be a witness on judicial proceeding, if
needed-- give most unbiased, honest,
truthful and professional testimonies

Relationship with the

FELLOW PRACTITIONERS

Not

to solicit listings exclusively

listed with another Broker unless
revoked or expired
In accepting listing from another
Broker, the agency of the Listing
Broker must be respected

Signboards on any property

should not be placed by more than
one Broker unless authorized

Relationship with the

FELLOW PRACTITIONERS

Should

not use obtained information from a

listing broker on multiple-listed properties

Should cooperate with other Brokers on the

sale of multiple listed properties
Share commission on agreed rate
Negotiations relative to exclusive listed
properties should be carried by the listing
Broker and not by the owner, except with
Brokers consent

Relationship with the

FELLOW PRACTITIONERS

Not

to solicit or use the services of

other Brokers employees
Avoid giving negative criticisms
against competitor/fellow
practitioners nor volunteer an opinion
of the competitors transaction- if ever
sought should rendered it with
professional integrity and courtesy

Relationship with the

FELLOW PRACTITIONERS

Should not seek unfair advantage over his

fellow practitioners and should willingly
share the lessons of his/her experience and
study

Observance to proper conduct of the realty

practice and business to avoid controversy

In case of conflict, should submit and

exhaust all administrative remedies for
Arbitration for the settlement of the
dispute (Arbitration Board, DTI and other
proper authorities)

Relationship with the

ORGANIZATION/REALTORS BOARD

Abide

the abide Organizations

Constitution and by-laws

Non-practice of electioneering
activities

Provide moral and financial support to

the
organizations plans and
programs

Abide associations rules on

THANK YOU
&
GOD BLESS