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Leading property groups form International Ethics Standards Coalition

Posted by: In: Real Estate 04 Nov 2014 Comments: 0 Tags: , , , , , , , , , , ,
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Organisations representing property and related professional services from around the world met at the United Nations in New York at the end of October 2014 to establish the International Ethics Standards Coalition (IESC).

The IESC is made up of leading professional bodies from Asia, Europe, Oceania, North and South America and aims to develop and implement the first industry-wide ethics standards for property and related professional services.

Member organisations of the coalition, many of which already have their own codes of conduct focusing on things like trustworthiness, integrity and respect, will seek to align fundamental ethics principles through the new international standard. The ultimate goal is that professionals will undertake their work in an ethically consistent way, regardless of where in the world they are located and the nature of their work.

The following organisations met at the UN:

La Asociacion Espanola de Analisis de Valor (AEV – Spain)
American Institute of Architects (AIA)
American Society of Appraisers (US)
Appraisal Foundation (TAF – US)
Asociacion Professional de Sociedades de Valoracion (Spain)
Counselors of Real Estate (CRE – U.S)
German property Federation / Initiative Corporate Governance (Germany)
International Consortium of Real Estate Associations (ICREA, Switzerland)
Institute of Real Estate Management (IREM, US)
International Real Estate Federation (FIABCI, France)
International Right of Way Association (IRWA, US)
Royal Institute of British Architects (RIBA, UK)
Royal Institution of Chartered Surveyors (RICS, UK)
SECOVI-SP (Brazil)
Russian Society of Appraisers (Russia)

The coalition hopes the new International Ethics Standard will be ready in early 2016, following which the member bodies of the Coalition will implement it through their own training and guidance to professionals.

“Many professions already have their own robust ethics standards and codes. However, whilst the principles set out in these codes often overlap the extent to which they are understood consistently by members of the public, clients and consumers of professional services is poor,” says Peter Bolton King, RICS Global Residential Director.

“This can lead to confusion but it can also impact the legitimacy of professionals in an increasingly global and interconnected marketplace. Establishing a common, internationally-applied ethics standard will enhance transparency, consistency and trust in the services being offered by professionals wherever they operate.”

Professional and not-for-profit organisations are invited and encouraged to join the International Ethics Standards Coalition now by contacting any of the above organisations for more information.

Industry Issues, German property

Source: The Movechannel

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