Ethics of AMPI Agents in a Free Market
We have accountability to the public and to our associates to practice our AMPI Ethics and Practices. Through our listing agreements, we need to share and promote to the entire realtor community, so all of us market properly everyone´s property to our clients.
Local conditions of markets may be different, but ethics and social responsibility principles should be applicable to all markets.
We, as agents, need to demonstrate these qualities as a professional:
Being honest and doing the right thing at all times. Agents must possess a high degree of integrity, as the client has given them their trust, and a lot of money is involved.
Taking responsibility for actions is another major factor when it comes to ethics and behavior. Accountability is being honest when things go wrong and working toward a resolution while remaining professional.
A vital aspect of the market is our working well with others. Co-agents may not like each other, but we need to set aside personal or even work-related differences to take care of the clients.
Ethical and behavioral guidelines place a high amount of importance on dedication to the job we do. Professional behavior is displayed in our demonstrating knowledge of the job, identifying what the client needs, and working to achieve the best results. We need the help of our associates and the team of notary, accountant, attorney, property manager, all who make reaching the goal more possible.
Work to Have and Keep an Open Fair Market:
There are more losers than winners in a distorted market.
Free markets promote an exchange using systems to establish a value that is known to others, as opposed to a black market, where knowledge of value is not shared.
We have the responsibility to make our market transparent and ¨free”. We do not create value nor impact the market in a positive way by approaching the exchange we are seeking with the attitude there will be a winner and a loser.
Each exchange should be undertaken as a voluntary agreement between buyer and sellers represented by agents.
In open trade, both parties’ benefit. If they both did not expect to gain, they will not agree to the exchange.
Buyer and seller commonly value the property differently, and these differences set the scene for an exchange.
The terms of any agreement have two principals: how much each party values the property, and each party bargaining skills.
Our market is made possible by the use of money. Terms of exchanges, or prices, are determined by the voluntary interactions of seller and buyer. This market is “free” because choices, at each step, are made freely and voluntarily.
The free competitive market also rewards and stimulates innovation. Those who see a need for a new product can create what fits the life style of the different buyer coming into the market.
This article is based upon legal opinions, current practices and my personal experiences in the Puerto Vallarta / Nayarit (Bahia de Banderas) areas. I recommend that each potential buyer or seller of Mexican real estate conduct his own due diligence and review. If you have any other questions, contact me through my website.