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Code of Ethics

1. INTRODUCTION

1.1. The present HAR Code is binding for the members of the Hellenic Association of Realtors. Its aim is to establish high standards for practicing the profession of Real Estate Agent.

1.2. The Agent is a freelancer who acts by his own means as an intermediary for all real estate transactions such as purchase, leasing or financial agreement of exchange, providing the relevant services on commission.

1.3. The Agent – HAR member is obliged to comply his practice with the following legislation:

1.3a. Civil Code – Regarding Contract of Sale

1.3b. Civil Code – Regarding Real Estate Agents

1.3c. The warrant of President’s Decree 248/93 (Government Bulletin 108 Decision / 06.28.1993) “Regarding Real Estate Agents.”

1.3d. The Consumer Protection Act.

1.3e. The Personal Data Protection Act.

1.4. The Real Estate Agent is paid by both parties. Therefore HAR members should protect the interests of both parties.

1.5. The Agent – HAR member is obliged to offer services to any person or legal entity, regardless of his/her nationality, citizenship, gender or religion, by complying to effective legislation and informing potential buyer(s) about the special legislation that applies to the Greek border areas.

1.6. The Agent – HAR member should not withhold from his client(s) any flaws of the property that he is aware of.

1.7. In the context of impartial and professional co-operation, prior to any transaction HAR members should inform their customers if they have any personal or financial interest in the sale, above any agreed commission.

1.8. The Agent – HAR member is obliged to protect and respect any client’s personal information (private, business, financial) by applying confidentiality.

 

2. AGENT / CUSTOMER RELATIONSHIP

2.1. CO – OPERATION MANDATES:

2.1.1. Any assignment regarding sale, lease, purchase, financial agreement of exchange, property exchange, professional advice, appraisal must be in writing on a Real Estate Mandate form. The form should state clearly the duration, detailed property description, property price and Agent’s commission. The Real Estate Mandate should be signed by both parties prior to any mediation.

2.1.2. The HAR members are encouraged to use Real Estate Mandate forms that have been approved by HAR General Assembly.

2.1.3. The Agent’s commission will be paid when the assignment is fulfilled. If there is a preliminary agreement in the form of either a notary deed or a private contract of initial deposit, the Agent has the right to request up to half the agreed commission, regardless of whether the preliminary agreement will conclude to a final contract.

2.1.4. In exception to the previous paragraph, for any advisory services such as property valuation/appraisal, market research etc. the commission is independent of any sale. Any such assignment for advisory services must also be in writing and the advisory fees should be clearly stated.

2.1.5. The Real Estate Purchaser’s Mandate is valid for a period of 36 months from the date of property viewing.

2.1.6. Cooperation in handling the R.E. Mandate with other Agents should take place only after the prior written consent of the client.

2.1.7. Prior to signing the Owner’s mandate the owner should be asked if he previously has signed similar Mandate with another agent. In the case where an Exclusive Owner Mandate has been signed with another agency that is not a HAR member, the Agent – HAR member will accept the assignment after informing the owner about double commission obligation. In any case the commission is agreed clearly in writing prior to offering any Agent services.

2.2. ADVERTISING

2.3.1. Agent’s sign of sale / lease should be displayed only with the owner’s written consent and only if Exclusive Owner’s Mandate has been signed.

2.3.2. It is strictly forbidden to remove / replace another agent’s sign without owner’s prior consent.

2.3.3. Publications – Advertisements should be accurate and clearly indicate that these classifieds are listed by a Real Estate Agency.

 

3. RELATIONSHIP BETWEEEN AGENTS (UNFAIR COMPETITION)

3.1. Solidarity and mutual respect between Agents contribute positively in the public image of the Real Estate Agent’s profession. All HAR members should respect their colleague’s personality regardless if they are HAR members or not.

3.2. In order to avoid competition and possible disputes, HAR members should pursue to sign Exclusive Owner’s Mandates, unless the owner refuses to.

3.3. The appraisals given by HAR member prior to signing the Owner’s Mandate should be objective and not overvalued in order to acquire the sale assignment.

3.4. In a case of co-operation between two Agents – HAR members, the commissions shall be divided as agreed between the Agents in advance.