Ethics Are A Great Concern For Professionals

Being an inter-reliant and intricate process that involves numerous stakeholders from many disciplines each phase of the property development process needs the influence of one or more key stakeholders. These actors include but are not limited to landowners, developers, public sector & government agencies, planners, contractors and financial institutions as a result property development could also be seen as the coordination of these processes, stakeholders and actors. Ultimately not every development is the same and therefore may need different combinations of actors and processes.

“Real estate is a year-round opportunity to help countless people realize the American dream” (“Why Real Estate”, 2012). Eighty-five percent of buyers believe that home purchases are good financial investments, and a majority of homebuyers and sellers rely on the services and expertise of real estate professionals to assist them with their transactions (Profile of Home Buyers and Sellers, 2010). “The primary job description for an agent is communicating with potential clients to determine what kind of property they are looking for” (Richard, 2012). This means, setting up interviews with clients to see if the agents firm possesses property that meets the client’s specific needs. Once it is apparent exactly what the client is looking for, the agent sets appointments to show houses to clients and many times the agent physically accompanies couples while showing off properties.

Acquiring self satisfaction is my main goal in life, how I achieve it is by doing the things I enjoy and have a passion for. Deciding to study building surveying was made based on a few reasons that I believe can help me obtain self satisfaction in my studies and in my future endeavours. Having the opportunity of working both in the office and on the field is the key factor in me choosing to pursue my study in building surveying. Travelling to different locations, being exposed to different conditions and work sites, exploring the natural phenomena around me and being able to assist the community by helping to develop a safe and sustainable environment. With an increasing demand and growth in the building industry, as a building surveying student

Buying or selling a house or an apartment is one of the biggest decisions of a person’s life. And when selling or establishing a price for real estate, people seek out real estate agents to do the dirty work. A real estate agent has to convince a prospective homeowner that he or she is trustworthy and knowledgeable. In many ways, the agent acts as a counselor to individuals and families about to embark on a huge commitment. Real estate agents have a thorough knowledge or real estate market in their community. They

Purchasing a home is stressful enough without having to worry about possible problems hidden behind the walls or those carefully concealed by handy remodeling. The majority of home buyers work with a licensed home inspector to conduct a thorough inspection before sealing the deal on their purchase of a residential real estate listing. A professional inspection will typically uncover the majority of construction defects. In addition to conducting a meticulous inspection it's also a good idea to review the real estate disclosures with the selling agent.

Although this statement goes without saying, it 's worth mentioning simply because many of those looking to purchase commercial real estate believe it is standard protocol to rely upon the realtor 's recommendation for hiring an inspector. In reality, this practice poses a conflict of interest that can have dire consequences for the party purchasing the property. Unfortunately, real estate agents who knowingly partake in this practice along with inspectors who continue to burn the candle from both ends know exactly what they 're doing and how to get away with it. While there may be a few exceptions to what I am telling you, I can assure you that the majority of inspectors who rely heavily upon referrals from real estate agents for their business are not going to rock the boat by disclosing

In the workplace as well as one’s personal life is essential for ethics to be maintained; often taking the right action is not always the most popular choice. It is important for maintaining an upstanding ethical code of conduct to be a productive individual as well as function as an employee in the workplace.

The Authors studied why valuation estimates are likely to be biased estimates of market values due to clients' influence. The studies were done on the behaviors of clients in the UK, USA, and New Zealand. The authors pointed out that the information found has made a significant contribution to real estate literature, but the purpose of this research was to examine the prevalence of client influence and the impact on valuation in Nigeria. The survey found that nearly 80 percent of estate surveyors and valuers claimed some knowledge of client influence—mostly from private individuals. It did not state whether the clients were successful in influencing the surveyors and valuers to alter the valuation of their properties.

Whether purchasing, or offering a home, picking the correct land operator or purchasers specialist, is the most critical stride to take. The way toward purchasing or offering a house is extremely itemized and troublesome. Notwithstanding the way that mix-ups can cost a lot of cash?

This paper will seek to provide an overview of the real estate process and its affects on the real estate agent. An agent needs to be knowledgable about the steps required to make a sale, and the risks involved when the sale does not go as planned. Real estate sales require much of the agent, including sacrifices in their personal lives and in their financial stability. Agents must be teachable and willing to seek to see others succeed. A successful real estate sale consists of many steps, sacrifices to personal time, and an agent’s ability to work well with others while remaining incredibly flexible.

Although realtors are expected to avoid misstating the facts or hiding useful information it is not obligatory for them to find out the defects in the property. Hence it is important to get the property checked by a third party inspector.

Appraiser – asses the market value of a property so that the value of the property is within the lender’s loan guidelines. They researched information on the property such as the legal address, description, assessment, property tax and age of home. Appraisals are estimates and are subjective in nature. They are hired by the mortgage company and paid at closing. If they are party to mortgage fraud they will inflate the value of the property.

Ethics involve an individual's moral judgments concerning what is right and/or wrong. Individuals or groups of people are responsible for making decisions in an organization (shaw, 2008). Decisions within the organization are always emanate from the company's culture. However, the decision to act ethically and morally requires an individual judgment. Thus, members of staff are obligated to make decisions that reflect their right course of action (shaw, 2008). This involves rejecting the option that could lead to the greatest short-term gain. The leadership of most organizations stresses the need to adopt ethical behaviors and corporate social responsibility. Ethical dealings can earn the organization various benefits. For instance, it may attract more clients to the business thus boosting sales; employees could be motivated to stay longer in the organization thereby reducing recruitment expenditures. Ethical behaviors could also earn the business a favorable reputation that could attract investors. Categorically, a lack of social responsibility or unethical behavior may hurt the firm's reputation and scare away investors. Sales and profits could fall in the process.

The rationale behind the Real Property Appraiser Qualification Criteria, as stated by the Appraisal Foundation includes the facts that applicants with Bachelor’s degrees or higher perform better on the National Uniform Licensing and Certification Exam than do those with Associate degrees or high school diplomas. Additionally, the Appraisal Foundation is of the opinion that appraisers who possess Bachelor’s degrees would have a better grasp of the many factors influencing the real estate industry as a whole. Although the new education requirements may indeed enhance public trust of the real estate appraisal profession, they are also discouraging anyone that wishes to enter the profession. The true effects of the Real Property

Professional status of quantity surveyors is constantly challenged by greater competition and increased clients expectation of the services offered by QS consultancies. To meet these challenges and to maintain a competitive advantage quantity surveyors need to enhance the level of professionalism (Davis et al., 2007).