Arriba Estates Code of Ethics

Peace of mind when buying a property on the Costa del Sol

Preamble

This Code of Ethics applies to all Member Agents of the Interagency Network, their staff and all the agents who work within their companies. It is the responsibility of Member Agents to ensure that they, their staff and their agents know and understand their obligations to all parties who are covered by the conditions of this Code of Ethics.

Member Agents will study this Code of Ethics, pledge to observe the word and spirit of it in all of their activities, and to conduct their business in accordance with the principles set out in the following pages. In doing so, they will receive Accreditation by the IN Network.

Always be sure to ask to see the personal card which is issued to each accredited member of staff.

By these means, and with IN Network Member Agents only, you have reassurance, as well as the best selection of properties for sale anywhere on the Costa del Sol.

What is the Code of Ethics?

Acquiring a home in the sun should be one of the most enjoyable purchases you will ever make and we want to ensure that the whole process takes place in a secure and trusting environment. Our Code of Ethics provides a framework within which Member Agents undertake to provide a professional, ethical and fair service to everyone with whom they come into contact, whether it be vendors or buyers of homes on the Costa del Sol, members of the public, or other real estate companies. It complements the existing consumer protection legislation in Spain and brings a higher level of protection, creates a stable and transparent environment, and enables you to relax in the knowledge that you are in safe hands. The Code has been established very simply with your best interests in mind and we ask you to take ten minutes to read the articles set out over the next few pages. In doing so, you will understand why buying or selling through an IN Member Agent will offer you the security and peace of mind that you deserve.

Duties to Vendors & Buyers

Article 1

When representing a vendor or buyer, Member Agents pledge themselves to protect and promote the interests of their clients. This primary obligation does not relieve the agent of the responsibility to deal fairly and honestly with all parties to the transaction.

Article 2

Member Agents shall avoid exaggeration, misrepresentation, or concealment of pertinent facts relating to the property or the transaction. Member Agents, however, will not be obliged to discover construction or technical faults in the property but should declare them if aware.

Article 3

Member Agents shall cooperate with other agents in a professional and courteous manner so as to best serve the needs of buying and selling customers.

Article 4

Member Agents shall hold in a client account in an appropriate financial institution, separate from their own working funds, any monies coming into their possession from purchasing clients.

Article 5

Member Agents shall disclose all information on typical costs of any transaction in a full, fair and accurate manner.

Article 6

Properties can sell quickly, and Member Agents pledge to keep the client informed, to the best of their knowledge, of the current status of any property about which the client may enquire.

Article 7

Member Agents shall introduce their clients, if requested, to a suitably qualified surveyor capable of conducting a full structural survey on a property.

Article 8

All resale properties listed on the IN MLS database have a signed contract confirming the rights of all Member Agents to offer these properties for sale at the stated price.

Article 9

Member Agents will take all reasonable care to ensure that properties listed for sale are free of charges and encumbrances and fulfil the legal requirements for sale.

Article 10

Member Agents shall not acquire an interest in a property or buy or present offers from themselves, or any member of their immediate families, their firms or any member thereof, or any entities in which they have any ownership interest without making their true position known to the owner or the ownerĂ­s agent or representative. In selling property they own, or in which they have any interest, Member Agents shall reveal their ownership or interest in writing to the purchaser or the purchaserĂ­s representative.

Article 11

Member Agents shall not offer for sale or advertise property at a price different from that agreed with the seller and confirmed on an Interagency Network contract.

Article 12

Member Agents, prior to entering into an agreement to offer a property for sale, have an affirmative obligation to make reasonable efforts to determine whether the client has already signed an agreement with another Member Agent to provide the same type of service.

Article 13

Member Agents, for the protection of all parties, shall ensure that all agreements shall be in writing and shall be in clear and understandable language, expressing the specific terms, conditions, obligations and commitments of the parties. A copy of each agreement shall be furnished to each party upon their signing or initialling.

Article 14

Member Agents shall, prior to the signing of agreements, fully inform the signing party of all potential expenses for which they may be liable.

Article 15

Member Agents shall treat all information and data collected by themselves or their staff, whether regarding vendors or buyers, in accordance with current legislation regarding data protection. That obligation to preserve confidential information continues after termination of any and all business relationships.

Member Agents shall not knowingly, during or following the termination of professional relationships with their clients:

  • Reveal confidential information of clients.
  • Use confidential information of clients to the disadvantage of clients.
  • Use confidential information of clients for the Member AgentĂ­s advantage or the advantage of third parties unless:
    a) Clients consent to full disclosure.
    b) Member Agents are required by court order.
    c) It is the intention of a client to commit a crime and the information is necessary to prevent the crime.
    d) It is necessary to defend a Member Agent or the Member AgentĂ­s employees or agents against an accusation of wrongful conduct.

Article 16

Member Agents shall encourage parties to a transaction to seek independent legal and/or financial representation, and will effect an introduction to such independent sources if so requested. The provider of that professional service will speak the clientĂ­s language or a language understood by him. The client may also choose to be represented by a lawyer in his home country, and should he so decide, the client accepts responsibility for ensuring that such lawyer is competent and qualified to act in a transaction occurring within the jurisdiction of the laws of Spain.

Article 17

In the event that a Member Agent introduces any client, whether buying or selling, to any provider of additional or ancillary services or products, he shall endeavour at all times to ensure that the other service provider acts within both the letter and the spirit of this Code, as well as acting within legislation covering that additional or ancillary service or product.

Article 18

Member Agents shall ensure that the description of a property for sale is accurate and complete and fully reflects all details as provided by the vendor. They will, to the best of their ability, complete the appropriate paperwork indicating the details of the property and will diligently confirm all details with the vendor in order to provide comprehensive information to prospective clients. It is, nevertheless, the responsibility of the client at time of purchase, together with his legal representative where appropriate, to ascertain that the vendor has indeed provided true facts to the Member Agent.

Article 19

Member Agents shall present all offers and counter offers in a timely manner.

Article 20

Member Agents have a duty to respond promptly and efficiently to all enquiries from buyers and vendors.

Duties to the Public

Article 21

Member Agents shall not deny equal professional services to any person for reasons of race, colour, religion, sex, handicap or national origin.

Article 22

Member Agents shall endeavour at all times to present a true picture in their advertising and representations to the public.

Article 23

The business of Member Agents shall be conducted in strict accordance with statutory and regulatory requirements.

Article 24

All salespeople representing Member Agents will be trained and accredited by IN and will show their proof of accreditation on demand. IN will write and conduct a suitable training programme and checking process, to enable them to issue cards proving competence and accreditation of Member Agent staff.

Article 25

If charged with unethical practice or asked to present evidence or to co-operate in any other way, Member Agents shall place all pertinent facts before the authorised individuals or bodies.

Article 26

From time to time, Member Agents may offer premiums, prizes, merchandise discounts or other inducements to list, sell or purchase. However, Member Agents must exercise care and candour in any such advertising or other public or private representations so that any party interested in receiving or otherwise benefiting from the Member AgentĂ­s offer will have clear, thorough, advance understanding of all the terms and conditions of the offer.

Duties to other Agents

Article 27

Member Agents shall never publicly discredit a competitor nor knowingly nor recklessly make false or misleading statements about competitors, their business, or their business practices.

Article 28

Member Agents shall not seek information about a competitorĂ­s transaction for the purpose of closing a transaction himself; or for the purpose of interfering with any other contractual undertaking.

Article 29

Member Agents shall not solicit a listing that is currently on an IN contract with another Member Agent.

Article 30

Agents shall not offer directly to the members of staff of other Member Agents any inducements to sell property listed by them without the express permission of the employers of those members of staff.

Article 31

Member Agents shall not misrepresent the availability of access to show or inspect a listed property.

Article 32

All dealings concerning IN listed property shall be carried out with the Listing Agent and not with the seller, unless with the previous consent of the Listing Agent.

Article 33

In the event of a dispute concerning a Network related issue between a client and/or Member Agents which cannot be settled following representations to the Rules and Ethics Committee of the Board, all parties agree to submit the dispute to a lawyer appointed by the IN Board of Directors, and agree to be bound by the decision of said lawyer.