The Ethical Issues I May Encounter Whilst Working As A Professional For Commercial Real Estate

1187 Words Oct 15th, 2015 5 Pages
The ethical issues I may encounter whilst working as a professional in commercial real estate.

This essay presupposes that the subjects’ career path begins with a period spent studying towards the assessment of professional competence as set out by the RICS governing body; a logical step at the start of a career in commercial real estate. Whilst there is extensive research on problems of ethics in other countries such as that by Bowen (2007), the focus is on a potential career path based in the UK and as such these are not examined. Finally there is no analysis of illegal practices, such as bribery, since these are dealt with directly by industry law and are not viewed as ethical challenges. The central theme to this essay is the issue of human involvement in real estate, succinctly explained by Miller (1999:2006) who says, “anytime a person depends on another person to appraise, develop a market analysis, represent, negotiate on behalf of, perform certain duties that are prerequisite to a deal, all in anticipation of investing, buying, selling, developing, leasing, lending, or taking oneself or ones own firm any financial risks, there is the potential of violations of ethics in terms of expected behavior.”

One area that epitomizes the public’s mistrust of real estate is that of agency. In particular, the much maligned media character of the ‘car salesman’ estate agent, typified by in ‘the secret agent’ (BBC 2009). Whilst the traditional view usually focuses on…

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