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sorry i left this out..
ethics are more of the morals a professional lives by in performing his business upon which others should be able to rely
there is no ethics code owed by the customers….as there is no contractual relationship implied or overt…..unless it was agreed on beforehand
ie….if realtor told buyer if you buy a house i show you and must pay commission BEFORE and buyer agreed….then there is an oral relationship now ….that may or may not be enforecable according to law…in the usa likely not enforceable under statute of frauds BUT there may be an argument of partial performance to get around itI think we need more information. Some of you are assuming the broker was asking the buyer to pay them a commission on top of the sale price. After seeing the property did the buyer decide to contact the owner directly to see if they could get a better deal? Did the owner contact the buyer and say “Hey call me later, I can do better”. Did the buyer explicitly tell the broker “only show me listings that have signed exclusives, therefore I could not get directly from seller? The buyer engaged the broker and asked the broker so show them properties, one must understand that the money paid to the broker comes from the sale price of the home. It is understood by most there is no multiple listing service in Costa Rica hence very few signed exclusive sales agreements. This implies most listings are what you are calling FSBO’s, owners may advertise there home for sale while also letting brokers show it. Of course the price will be less without the broker involved, just as it is less to buy anything from a loaf of bread to a car if there is no “broker”. It is also generaly understood that the commission comes out of the sales price. If the broker showed the property and then told the buyer he/she would have to pay a % of the price to him for his commission well then that would call for an agreement before hand in my opinion. Again we just don’t have enough information…Brokers work on commission you want to try and save don’t call a broker find the FSBO’s on your own don’t use a broker to lead you there and then try and cut them out of the deal. I disagree stephenf we all can live up to a code of sound, fair ethics and morals whether a buyer, broker, seller or shoemaker.
I agree, we need more information.
But I disagree with your statement “we all can live up to a code of sound, fair ethics and morals whether a buyer, broker, seller or shoemaker. “
You are speaking for a large group. Some of the people in that group are not able to work in Costa Rica, but are living there and need money. Some will play dirty in order to put food on their table.
The only way you can say that this group as a whole will live up to a code of sound, fair ethics and morals is if there is a written code in place with penalties for those that break it.
Well that’s another missing piece of the puzzle, is the broker legally entitled to work in Costa Rica? I was not speaking for any particular group, but in regards to humanity and what could/should come from the heart. I think at this stage of our evolution we should be able to discern from good behavior and bad behavior without having to rely on a written code. I don’t need a copy of the law to tell me I need to pay for that gum before I leave the store! lol…
Buying real estate is a little more serious than buying a stick of gum. I don’t really think you could “Lose your shirt” doing it, otherwise Scott would have written a book about it.
Here is a summary of the REALTORs code of ethics written in 1913 and still adhered to with pride today in the USA:
I guess I’m a little skeptical to assume that everyone selling real estate in CR is adhering to these practices, or that such a code is not needed.
Jon
It was a rhetorical analogy that’s all…about the gum that is. Also lets remember at least in the US you are innocent until proven guilty. But of course under the Napoleonic code that Costa Rica adheres to it’s just the opposite. I have to tell you I have been a broker in NYC for 17 years and this code written in 1913 has never been brought up? But again I will state with out the use of an analogy, I do not need a written code to know how to treat someone fairly. Laws are a different thing all together each country having various interpretations, but honesty is universal.
*So this is the code of Realtors, oh that explains it. we are not members of this organization in NYC we have an organization called REBNY that has it’s own set of guidelines.
Edited on Sep 07, 2008 15:41
Yes I new it was an analogy but I couldn’t resist. I was having fun and I’ve probably taken it too far. You sound like an honest person and your point is well taken.
I read that being a member of the National Real Estate Association is strictly voluntary. I assume though that you at least need a license to sell real estate in NY? Study for and pass an exam? Of course, maybe having such a thing in place in CR wouldn’t mean much anyway with the bribery that exists.
Yes you do need to take exams and continuing education, NY’s test is fairly easy other states like Florida and California much harder. Real Estate is like any other business you have competent honest people who enjoy what they do, and others not so competent and honest. But sort of like being a stock broker a real estate agent gets no salary so most offices will hire just about anyone with a pulse and give them a shot. In a lot of offices I have worked the turnover was about a third of the office every three months. This is not an easy business to make a living in, each agent is basically there own small business-no salary, benefits, 401k’s etc…I enjoy it and have been doing it for 17 years but it can be very stressful especially when that money is not coming in! But yesterday at 1pm I was done with my appointments, jumped in my truck and went surfing that part I love!
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