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20190328 (Thu) Code vs Core Values

20190328 (Thu)

Differences between MEAS 2014 & MEAS 2018. Code of Conducts & Ethics v Core Values.

Go here to read the actual Core Values of MEAS 2018.

In the NEW Standard, it is called “Core Values”

There are two major changes:

  1. Removal of the OLD No.7 on subletting the E License
  2. Addition of NEW No.8 about Duties of REA upon Negotiators

Of course, the law is now amended 2017 and included Property Managers, hence changed the Name of the Act, 1981. In the OLD MEAS 2014 it was called “Code of Conduct and Ethics” but now changed name to “Core Values”.

The major deletion is on the item No.7 where in the OLD Code, it emphasized that Estate agents shall act within law and shall

“avoid selling, subletting or otherwise permitting any other person to use any authority to practice issued to them under the Act or risk facing the most severe of disciplinary sanction imposed by the Board.”

May be it is just NOT NICE to reflect such item in the STANDARD (as if the profession condones such practice of subletting the license?) Or is it rampantly happening? Unable to eradicate such practices, the Standard Setting Committee close their eyes on this matter?

Next is the recognition of Negotiators in the 2017 Amendment to the Valuers, Appraisers, Estate Agents and Property Managers Act, 1981 which included “Negotiators”:

S.22C (2) (d) a negotiator may assist the registered estate agent in the estate agency practice.

Thus, Core Value included item No.8 which emphasizes that there is Duty of REA in respect of Negotiators.

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