European Economic
and Social Committee
CEPI asbl (Conseil européen des Professions immobilières)
Summary of the initiative
Name
CEPI asbl (Conseil européen des Professions immobilières)
Website(s)
Objective(s)
In the spirit of the Single European Act and having regard to the responsibilities which are incumbent upon real estate professionals as a result of the civil, economic and social role allotted to them, we establish the principles of a common Code of Ethics gathering the principles of conduct and ethics of their professions. The rules aim to ensure to the consumer the best guarantees and quality of services in the interest of the common good and for the conservation of the professional inheritance for future generations. They also aim to ensure the best relations between professionals. Each member organisation whilst rigorously respecting the spirit of the code, may adapt it to the specific professional circumstances within its own country. The code owners are apart from the CEPI the CEAB asbl (Confédération Européenne des Administrateurs de Biens: Property Managers) and EPAG asbl (European Property Agents Group).
Description of the Initiative
Sector
Sector
Contact Point - Commission
GROW E1
Self/Co-Regulation Basic Act
Self/Co-Regulation Basic Act
PRIVATE ACT
Year
2006
Title of Act
European Code of Ethics for Real Estate Professionals
Geographical Coverage
Geographical Coverage
Global coverage
Participating Countries
Austria
Description
Description
Problems that lead to the introduction of Self/Co-Regulation and the adoption of the Founding Act
In some countries, there are more or less restrictive regulations, in others there are even outdated ones. Therefore the activities of property agents and managers require increasingly more rigour, professionalism, in-depth knowledge in areas as varied as law, taxation, insurance, economics, accounting, building technologies, sociology, financing mechanisms, information technology, town planning, regional planning, etc. Furthermore, this knowledge must be constantly updated by continuing training. As a result, a non-negligible number of players in the property sector may not have all the guarantees needed to protect the consumer.
Target Group(s)
Real estate professionals (property agents and property managers).
Type of Instrument(s)
Code of Ethics.
Type of Financing
-
Type of Monitoring
| Conduct an initial survey of compliance capacity of future regulatees | Conduct regular visits and spot checks | Initiate complaints procedures | Maintain database of those bounded by the norms | Produce regular reports | Receive complaints and verify if norms were breached or not | Reflexive dialogue with the - stakeholders | Other | |
|---|---|---|---|---|---|---|---|---|
| European Commission | ||||||||
| National public authority | ||||||||
| International public authority | ||||||||
| Private regulator (code owner) | yes | yes | yes | |||||
| Private independent party with a mandate (e.g. auditors) | ||||||||
| Self-appointed private parties (e.g. NGOs) |
Succinct description of the type of Monitoring
A European Chamber of Arbitration, Mediation and Discipline (ECAMD) is to be established in CEPI, with its registered office in the premises of CEPI. Any and all disputes of a professional nature between one or more members of CEPI or one or more third parties may be referred to the ECAMD, provided that said third parties petition or accept the arbitral court. The ECAMD shall sit as a Chamber of Discipline at the request of a member of the Professional Association, a third party, or the professional association itself, for: Offences or violations of the bylaws and of the code of ethics of CEPI; Offences or torts for which a director of CEPI is accused in the performance of his duties.
Type of Enforcement
| Faming, shaming and blaming | Judicial sanctions | Membership suspension/exclusion | Private fines | Other | |
|---|---|---|---|---|---|
| Private Regulator | yes | yes | |||
| Private independent party with a mandate (e.g. auditors) | |||||
| Court system | |||||
| Alternative dispute resolution (ADR) / Online dispute resolution (ODR) |
Succinct description of the type of Enforcement
The Chamber of Discipline may mete out the following penalties: Warning, Rebuke, Reprimand, Disciplinary suspension, Proposed expulsion and Preventive suspension.
Results of Commission Monitoring
Link / Reference of Evaluation
-
Downloads
SMO self- and co-regulation database - private code 73