Chapter 9: Professionalism and Ethics

Learning Objectives

– List a number of the common elements that members of all professions share

– Define ethics and describe the relationship between ethics and professionalism

– Describe the Real Estate Council’s mandate of regulating in the public interest

– Explain why trust is fundamental in establishing the value of a profession, and how trust relates to honesty and integrity

– List the sources of duties to clients

– Discuss the key duties owed to clients under sections 3-3 and 3-4 of the Rules

– Explain how conflicts of interest undermine trust

– Describe the components of early, continuous, and full written disclosure

– Describe the rationale behind the duty to report

– Explain a licensee’s obligations to report under RESA, the Rules, and general professionalism

– List and describe the five elements to the framework for ethical decision making