There was a Code of Ethics under REBBA, 2002. Then, there were some changes, and a New Code under TRESA will become effective 1 April 2023.
It’s much shorter. So, where did all the provisions go?
What are the missing provisions?
The old Code included sections which are omitted from the new Code, as set out here:
| 9. | Remuneration |
| 10. | Information before agreements |
| 11. | Contents of written agreements |
| 12. | Copies of written agreements |
| 13. | Seller representation agreements |
| 14. | Buyer representation agreements |
| 15. | Agreements with customers |
| 16. | Disclosure before multiple representation |
| 17. | Nature of relationship |
| 18. | Disclosure of interest |
| 19. | Properties that meet buyer’s criteria |
| 20. | Seller property information statement |
| 21. | Material facts |
| 22. | Agreements with third parties |
| 23. | Steps taken by registrant |
| 24. | Conveying offers |
| 25. | Agreements relating to remuneration |
| 26. | Competing offers |
| 27. | Written and legible agreements |
| 28. | Copies of agreements |
| 29. | Delivery of deposits and documents |
| 30. | Business records |
| 31. | Certificate of registration: broker or salesperson |
| 32. | Certificate of registration: brokerage |
| 33. | Certificates of registration for brokers and salespersons kept by brokerage |
| 34. | Current forms |
| 35. | Financial responsibility |
| 36. | Advertising |
| 37. | Inaccurate representations |
| 38. | Error, misrepresentation, fraud, etc. |
| 39. | Unprofessional conduct, etc. |
| 40. | Abuse and harassment |
Comment
Some, but not all of those provisions will actually still continue, but they are not set out in the new Code of Ethics under TRESA.
Brian Madigan LL.B., Broker