Ethics from ML

  1. Tell me about ethics...
    Moral principles that govern someone's behaviour.

    Core of what it is to be a professional.

    Responsible for acting in the best interest of the public.

    Public places trust in you.

    Must protect the reputation of the profession.

    Must ask 'what is the right thing to do?'
  2. What is the RICS mission statement?
    Advance and promote standards.

    Promote profession for public good.
  3. To ensure you comply with ethics standards, what must you do?
    Regularly review for changes.

    CPD requires ethics to be covered one in three years.
  4. What are the 5 ethical standards of the RICS?
    Act with Integrity.

    Provide a high standard of service.

    Act in a way that promotes trust in the profession.

    Take responsibility.

    Have respect.
  5. Tell me about Act with integrity...
    Must be honest.

    Would you be happy to read about this in the press?

    What would your peers think?

    Would you like to be treated this way?

    When selling an office in London, I was asked by an interested party on the day of the bids deadline what bids had been received. I informed them that I was unable to provide this information.
  6. Tell me about Always Provide a High Standard of Service?
    Provide service to client in line with Terms of Engagement.

    Act within competence.

    Do you keep your promise?

    How can I assist my client to understand?

    Would client employ me if they knew my current workload?

    Am I putting too much pressure on myself?

    Example, I conducted out of office hours viewings for an auction property prior to the auction to increase the chance of bids at auction.
  7. Tell me about Act in a Way that Promotes Trust in Profession...
    Act in a good manner in both my personal and professional life.

    More important than ever given the impacts of social media.

    Do my actions promote the profession?

    Do my actions have a positive impact on the environment.

    Example include provide high standard of service to all clients but also ensuring that I am behaving well in my personal life and not just at work.
  8. Tell me about Treat Other With Respect?
    Being polite and considerate.

    No matter or a persons age, sex, race, religion and sexual orientation.

    Must be happy for the public to scrutinise my actions.

    Would I like to be treated this way?

    Example, I meet a lot of very different people in my work at auctions and I ensure I treat everyone equally no matter of their age, sex, race, religion, sexual orientation or job title.
  9. Tell me about Taking Responsibility...
    Must be accountable for actions.

    Don't blame others.

    Speak to colleagues and peers if something isn't right.

    Must ensure you have a Complaints Handling Procedure.

    Know your complaints Handling Procedure.

    For example, I regularly take responsibility for updating comparable schedules at work to ensure the team have a database of comparable ready to assist with their work
  10. What activities aren't included in Whistle Blowing?
    Personal grievances including bullying, harassment and discrimination.
  11. What is Whistle Blowing?
    Reporting a wrong doing in the publics interest.

    A Whistle Blower is protected by law and should not be treated any differently or sacked from their position.

    Protected Under the Public Interest Disclosure Act 1998.

    Report to be made to line manager or director or potentially risk team based upon the sensitivity of the issue.
  12. Tell me about Gifts and Hospitality...
    Should not be offered or accepted if they are likely to compromise you or your firms impartiality or integrity.

    Anything offered or accepted must be reasonable and proportionate.
  13. How could the RICS help you when dealing with ethical decisions?
    Refer to RICS guidance.

    Use the RICS decision tree.
  14. If you really needed to speak to someone in respect of an ethical decision, who should you speak to?
    • Manager
    • Colleagues
    • Peers
    • RICS Regulation
  15. If a client invited you to an expensive dinner in the evening which included food and drink (all included and paid for) during an instruction, what would you do?
    Politely decline if this would impact my ability to make an unbiased decision.

    If not impact decision, would this be seen to be reasonable and proportionate? If so, attend and log in hospitality register.

    If you are not sure, speak to your line manager.
  16. What must you consider in relation to gifts and hospitality?
    • What is the value?
    • Who is going? Me only?
    • Is it reasonable and proportionate?
    • Is there a genuine business purpose?
    • Is it close to a contract or Tender date?
    • How easy would it be to decline?
  17. Tell me about what you would do if you spot and issue?
    Consider whether the conduct is unlawful.

    An example could be poor service by another RICS member.

    Is someone failing to comply with company policy?

    Is there discrimination?

    Is health and Safety being put at risk?

    You must gather the facts and make a decision.

    Possibly speak to someone about your concerns or refer to RICS decision tree.
  18. Tell me about Conflict of Interest...
    Anything which may impede your ability to act in the best interest of your client.

    Acting for buyer and seller.

    Acting for client where you or your firm may have an interest in the result.

    Acting for two or more parties competing for the same interest.
  19. What questions would you ask yourself in relation to Conflicts of Interest?
    Do I have a financial interest?

    Would I acquire a financial interest?

    Could your advice or decisions be impacted by a third party?

    Do your clients have competing interests?

    Does my firm have a competing interest?
  20. How is it best to address a potential Conflict of Interest?
    Must be open and transparent.

    Declare to the parties involved.

    Offer to stand down.

    Let the parties make the decision and seek confirmation in writing.

    If parties object, stand down from instruction.

    Don't accept if no solution.
  21. Different types of RICS Standards?
    • Entry Standards
    • Technical Standards
    • Regulatory Standards
    • Ethical Standards

    All are equally important.
  22. What is the most important thing to consider prior to accepting or declining gifts or hospitality?

    Would it compromise your professional judgement.
  23. What would you do if you had concerns as to the actions of a colleague?
    Speak to them in private in first instance.

    If concerns continue then speak to a senior manager.
  24. What would you do if you received a gift which didn't compromise your professional judgement or integrity?
    Seek approval from an partner and log in gifts register before accepting.
  25. What would you do if a client requested work which was slightly outside of your area of expertise?
    Be open and transparent with client.

    Give them the opportunity to outsource part of the instruction.
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Ethics from ML