Page "Real estate broker" Paragraph 102

Because of the particularities and the nature of international transactions between real estate agents of different countries, the Real Estate Code of Ethics of each country are excellent to regulate the ethics of each member in its own jurisdiction, but in the case of complex international real estate transactions were sometimes ethical conflicts arise, there is a need to have a group of principles more adjusted to international transactions were two or more real estate agents of different countries participate in real estate brokerage businesses.

For example, in the NAR-FECEPAC memorandum of understanding of February 2003, a commitment was set to promote and adopt the respective code of ethics, standards and norms, but there is nothing specific mentioned for complex ethical matters in international transactions.

There was surely a commitment to cooperate with a foreign agent to work in local markets different from the foreign agents market.

As an example, it can be noticed that the NAR-CSBR Bilateral Cooperation Agreement of November 12, 2001 also created a commitment to promote and enforce mutually acceptable codes of ethics ( Code of Ethics meaning those that been promulgated by the cooperating associations for use in their respective countries, each of which is acknowledged to be acceptable to the other ).

Again, as the IRPF says " Ethical perceptions and international business is highly influenced by cultural differences.

Because of cultural and ethical relativism, real estate business that is conducted across national boundaries may discover ethical conflicts ".

There is also nothing specific mentioned for complex ethical matters in international transactions, whilst the agreements do provide to seek to facilitate business opportunities for members of the cooperating associations who may be working in each others markets, and also initiating and hosting trade missions.

The bilateral agreement between NAR and CSBR also states that both parties agree to enforce their respective codes and advice the other of subsequent modifications to its code of ethics.