The aim of SpainForSale.Properties is to provide peace of mind when buying or selling a Property in Spain.
Regulation of estate agents varies internationally, although bodies like the European Confederation of Real Estate Agents are trying to harmonise standards. SpainForSale.Properties is following the code of ethics from these professional organisations:
- Associacion Profesional de Gestores Intermediarios en Promociones de Edificaciones (Spain).
- Federation of Overseas Property Developers, Agents and Consultants (United Kingdom).
- Confederation of European Real Estate Agents (EU).
A summary of FOPDAC’s Code of Ethics will best convey what is demanded of all members:
- Members shall comply with all financial and legal obligations relating to their transactions, their clients or customers.
- Members shall report in writing any violation of these bylaws, whether their own or of others, whether members or not, to the Committee.
- Where Federation members accept clients’ monies for payment for land or property, they must maintain a legally separate Clients Account which must be properly conducted.
- Should the Federation receive a complaint that a member has not acted in accordance with the Code of Ethics then the Committee should decide that a member is in default and he subsequently fails to rectify the matter as directed, then the member would be liable to immediate expulsion.
- Members shall make honesty and integrity the standard in all their dealings with clients and customers. They shall avoid misleading property descriptions, concealment of pertinent information and exaggerations in advertising. They shall not market property for specific purposes if that property is not accessible and usable for such purposes.
- Members shall use their best endeavours to encourage developments with due consideration for open space and proper environmental controls.
- All agents must recommend to a prospective purchaser that they seek independent legal advice in order to effect their purchase. Such recommendation will be given before any legally binding contract is entered into. If the prospective purchaser asks the agent for the name of a person to provide independent legal advice the agent should provide a choice of names.
Puerto Banus (29660).