This Code of Ethics applies to all Member Agents of the INmo Network, their staff and 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.
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 clients 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 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 shall take all reasonable care to ensure that, at the moment of completion, 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 owner's 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 purchaser's 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 Inmo 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:
1. reveal confidential information of clients; or
2. use confidential information of clients to the disadvantage of clients; or
3. use confidential information of clients for the Member Agent's advantage or
the advantage of third parties unless:
a) clients consent to full disclosure; or
b) Member Agents are required by court order; or
it is the intention of a client to commit a crime and the information is necessary to prevent the crime; or
it is necessary to defend a Member Agent or the Member Agent's 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 introduced provider of that professional service will speak the client's 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.
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 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 Agent's offer will have clear, thorough, advance understanding of all the terms and conditions of the offer.
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 competitor's 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 an IN related issue between Member Agents which can not 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.
The Inmo Network Board of Directors shall give consideration to all written complaints or submissions from Members or clients having to do with violations of the Code of Ethics, Rules and Regulations.
If an alleged offence of a violation has occurred, it will be considered and, if a violation is determined, the Inmo Network Board of Directors may direct the imposition of a suspension or termination of Membership.
If no appeal has been lodged with the IN Board within seven (7) days after serving written notice of the findings, the party against whom the findings are made shall comply with said findings.
Members shall be responsible for the actions of their personnel and officers and at all times shall exclude the Inmo Network and its respective officers and employees from any liability of whatever nature arising from any action taken by, or agreement entered into, by the employees or representatives of said Members.
Failure to comply with the findings of the Network Board shall be grounds for suspension or expulsion from the Inmo Network.
The Network Board shall retain the rights to impose, from time to time, disciplinary action so as to protect the best interests of IN.
In the event of the Inmo Network terminating its services to a Member, all paid Membership fees, charges and any other payments will be forfeited by said member at the date of termination.
The Board of Directors of the INmo Network shall have the right to amend these Code of Ethics (including any Attachments hereto) from time to time.
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