Real Estate

Paper Summary:

In this paper, the writer relates that the real estate business is not devoid of its fair share of ethical dilemmas and issues. The writer notes that while there is a long list of ethical rules that realtors should follow and that real estate is one of the most legally regulated industries, there are still chances that ethical problems will arise. Further, the writer points out that, while most real estate agents will be honest and upright in their professional dealings, they too can encounter professional ethical dilemmas. In such cases, the writer maintains that it is ideal to stick to the code of ethics, but things may not always be as simple as they appear. The dilemmas arise on a number of occasions where the ethical code of realtors demands one thing and the realtors' personal ethics demand another. The writer concludes that the solution lies in finding the middle path- the common ground that would allow for both sets of ethical principles to work together without clashing.

From the Paper:

"Ethical dilemmas can arise from things as simple as valuation, property neighborhood, disclosures etc. It has been noticed the valuation bias is often one of the most commonly encountered ethical problems in real estate. Since properties are used for loans and mortgages, realtors can often put them at a higher price or worth than they really are. Similarly disclosure about problems with a property might not be made accurately. Since realtors know when a buyer is interested in a property, they wouldn't want to kill that interest by revealing that there are certain issues with the property and hence may find themselves faced with an ethical problem."

Sample of Sources Used:

• Joseph R. Molinaro. 2006 A Nation of Realtors[R]: A Cultural History of the Twentieth-Century American Middle Class. Journal of the American Planning Association. Volume: 72. Issue: 1.
• Chris Sicks. Internet Helps Buyers in Neighborhood Search. The Washington Times. January 12, 2001. Page Number: 1.
• John Kultgen. Ethics and Professionalism. University of Pennsylvania Press. Philadelphia. 1988.
• Scott Maben. City Crime Data Coming Online. The Register-Guard. Publication Date: June 24, 2005 p. A1.

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