Code of Ethics and Standards of Practice

Preamble

Real Estate is not only the scarcest, but also the most valuable commodity for the collective prosperity of society and of humanity as a whole. The judicious use and distribution of property is the only way to preserve the safety, wellbeing, health and environment for everyone. PROPERTY BUTLER should recognize that the interests of the nation and its citizens require the highest and best use of the land and the widest distribution of landownership. They require the creation of adequate housing, the building of functioning cities, the development of productive industries and farms, and the preservation of a healthful environment.

Such interests impose obligations beyond those of ordinary commerce. They impose grave social responsibility and a patriotic duty to which PROPERTY BUTLER should dedicate themselves, and for which they should bediligent in preparing themselves. PROPERTY BUTLER, therefore, are zealous to maintain and improve the standards of their calling and share with their fellow PROPERTY BUTLER a common responsibility for its integrity and honour

In recognition and appreciation of their obligations to clients, customers, the public, and each other, PROPERTY BUTLER continuously strive to become and remain informed on issues affecting real estate and, asknowledgeable professionals, they willingly share the fruit of their experience and study with others. They identify and take steps, through enforcement of this Code of Ethics and by assisting appropriate regulatory bodies, to eliminate practices which may damage the public or which might discredit or bring dishonour to the real estate profession. PROPERTY BUTLER having direct personal knowledge of conduct that may violate theCode of Ethics involving misappropriation of client or customer funds or property, discrimination against the protected classes under the Code of Ethics, or fraud, bring such matters to the attention of the appropriate authority or to the Directors of PROPERTY BUTLER.

Realizing that cooperation with other real estate professionals promotes the best interests of those who utilize their services, PROPERTY BUTLER urges exclusive representation of clients; do not attempt to gain any unfair advantage over their competitors; and they refrain from making unsolicited comments about other practitioners. In instances where their opinion is sought, or where PROPERTY BUTLER believes that comment is necessary, their opinion is offered in an objective, professional manner, uninfluenced by any personal motivation or potential advantage or gain.

The term PROPERTY BUTLER has come to connote competency, fairness, and high integrity resulting from adherence to a lofty ideal of moral conduct in business relations. No inducement of profit and no instruction from clients ever can justify departure from this ideal.

Accepting this standard as their own, PROPERTY BUTLER pledge to observe its spirit in all of their activitieswhether conducted personally, through associates or others, or via technological means, and to conduct theirbusiness in accordance with the tenets set forth below.

Duties to Clients and Customers

Article 1

When representing a buyer, seller, landlord, tenant, or other client as an Agent, one must pledge themselves toprotect and promote the interests of their client. This obligation to the client is primary, but it does not relieve‘Property Butler’ of their obligation to treat all parties honestly. When serving a buyer, seller, landlord, tenant orother party in a non-agency capacity, Property Butler remain obligated to treat all parties honestly.

• Standard of Practice 1-1
Property Butler, when acting as principals in a real estate transaction, remain obligated by the duties imposedby the Code of Ethics.

• Standard of Practice 1-2
The duties imposed by the Code of Ethics encompass all real estate-related activities and transactions whetherconducted in person, electronically, or through any other means.

The duties the Code of Ethics imposes are applicable whether Property Butler is acting with an appointment orin legally recognized non-agency capacities except that any duty imposed exclusively on Property Butler bylaw or regulation shall not be imposed by this Code of Ethics on an agent acting in non-agency capacities.

As used in this Code of Ethics, “client” means the person(s) or entity(ies) with whom Property Butler has anagency or legally recognized non-agency relationship; “customer” means a party to a real estate transactionwho receives information, services, or benefits but has no contractual relationship with Property Butler;“prospect” means a purchaser, seller, tenant, or landlord who is not subject to a representation relationshipwith Property Butler;

• Standard of Practice 1-3
PROPERTY BUTLER, in attempting to secure a listing, shall not deliberately mislead the owner as to market value.

• Standard of Practice 1-4
PROPERTY BUTLER, when seeking to become a buyer/tenant representative, shall not mislead buyers or tenants as to savings or other benefits that might be realized through use of the Property Butlers’ services.

• Standard of Practice 1-5
PROPERTY BUTLER may represent the seller/landlord and buyer/tenant in the same transaction only after full disclosure to and with informed consent of both parties.

• Standard of Practice 1-6
PROPERTY BUTLER shall submit offers and counter-offers objectively and as quickly as possible.

• Standard of Practice 1-7
When acting as listing brokers, PROPERTY BUTLER shall continue to submit to the seller/landlord all offers and counter-offers until closing or execution of a lease unless the seller/landlord has waived this obligation in writing. Upon the written request of a cooperating broker who submits an offer to the listing broker, the listing broker shall provide, as soon as practical, a written affirmation to the cooperating broker stating that the offer has been submitted to the seller/landlord, or a written notification that the seller/landlord has waived the obligation to have the offer presented. PROPERTY BUTLER shall not be obligated to continue to market the property after an offer has been accepted by the seller/landlord. PROPERTY BUTLER shall recommend that sellers/landlords obtain the advice of legal counsel prior to acceptance of a subsequent offer except where the acceptance is contingent on the termination of the pre-existing purchase contract or lease.

• Standard of Practice 1-8
PROPERTY BUTLER, acting as an agency or brokers of buyers/tenants, shall submit to buyers/tenants all offers and counter-offers until acceptance but have no obligation to continue to show properties to their clients after an offer has been accepted unless otherwise agreed in writing. PROPERTY BUTLER, acting as an agency or brokers of buyers/tenants, shall recommend that buyers/tenants obtain the advice of legal counsel if there isa question as to whether a pre-existing contract/transfer has been terminated.

• Standard of Practice 1-9
The obligation of PROPERTY BUTLER to preserve confidential information (as defined by state law) provided by their clients in the course of any agency relationship or non-agency relationship recognized by law continues after termination of agency relationships or any non-agency relationships recognized by law. PROPERTYBUTLER 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 agent’s advantage or the advantage of third parties unless: a) clients consent after full disclosure; or
b) PROPERTY BUTLER is required by court order; or c)it is the intention of a client to commit a crime and the information is necessary to prevent the crime; or
d) itisnecessarytodefendPropertyButleroritsemployeesorassociatesagainstanaccusationofwrongful conduct.

In recognition and appreciation of their obligations to clients, customers, the public, and each other, PROPERTY BUTLER continuously strive to become and remain informed on issues affecting real estate and, asknowledgeable professionals, they willingly share the fruit of their experience and study with others. They identify and take steps, through enforcement of this Code of Ethics and by assisting appropriate regulatory bodies, to eliminate practices which may damage the public or which might discredit or bring dishonour to the real estate profession. PROPERTY BUTLER having direct personal knowledge of conduct that may violate theCode of Ethics involving misappropriation of client or customer funds or property, discrimination against the protected classes under the Code of Ethics, or fraud, bring such matters to the attention of the appropriate authority or to the Directors of PROPERTY BUTLER.

Information concerning latent material defects is not considered confidential information under this Code of Ethics.

• Standard of Practice 1-10
PROPERTY BUTLER shall, consistent with the terms and conditions of their property management agreement, competently manage the property of clients with due regard for the rights, safety and health of tenants and others lawfully on the premises.

• Standard of Practice 1-11
PROPERTY BUTLER agents who are employed to maintain or manage a client’s property shall exercise due diligence and make reasonable efforts to protect it against reasonably foreseeable contingencies and losses.

• Standard of Practice 1-12
When entering into listing contracts, PROPERTY BUTLER must advise sellers/landlords of: 1)  Property Butler’s company policies regarding cooperation and the amount(s) of any compensation that will be offered to sub-agents, buyer/tenant agents, and/or brokers acting in legally recognized non-agency capacities; 2)  The fact that buyer/tenant agencies or brokers, even if compensated by listing brokers, or by sellers/landlords may represent the interests of buyers/tenants; and
3)  Any potential for listing brokers to act as disclosed dual agency.

• Standard of Practice 1-13
When entering into buyer/tenant agreements, PROPERTY BUTLER must advise potential clients of: 1)  Property Butler’s company policies regarding cooperation; 2)  The amount of compensation to be paid by the client; 3)  The potential for additional or offsetting compensation from other brokers, from the seller or landlord, or from other parties; 4)  Any potential for the buyer/tenant representative to act as a disclosed dual agent, e.g., listing broker, sub-agent, landlord’s agent, etc.; and 5) The possibility that sellers or sellers’ representatives may not treat the existence, terms, or conditions of offers as confidential unless confidentiality is required by law, regulation, or by any confidentiality agreement between the parties.

• Standard of Practice 1-14
Fees for preparing appraisals or other valuations shall not be contingent upon the amount of the appraisal or valuation.

• Standard of Practice 1-15
PROPERTY BUTLER, in response to inquiries from buyers or cooperating brokers shall, with the sellers’ approval, disclose the existence of offers on the property. Where disclosure is authorized, PROPERTY BUTLER shall also disclose, if asked, whether offers were obtained by the listing licensee, another licensee in the listing firm, or by a cooperating broker.

• Standard of Practice 1-16
PROPERTY BUTLER shall not access or use, or permit or enable others to access or use, listed or managed property on terms or conditions other than those authorized by the owner or seller.

Article 2
PROPERTY BUTLER shall avoid exaggeration, misrepresentation, or concealment of pertinent facts relating to the property or the transaction. PROPERTY BUTLER shall not, however, be obligated to discover latent defects in the property, to advise on matters outside the scope of their services, or to disclose facts which are confidential under the scope of agency or non-agency relationships as defined by state law.

• Standard of Practice 2-1
PROPERTY BUTLER shall only be obligated to discover and disclose adverse factors reasonably apparent to someone with expertise in those areas required by their scope of services as stated in their agreement or terms and conditions. Article 2 does not impose upon Property Butler the obligation of expertise in other professional or technical disciplines.
• Standard of Practice 2-2
PROPERTY BUTLER shall not be party to the naming of a false consideration in any document, unless it be the naming of an obviously nominal consideration.

• Standard of Practice 2-3
Factors defined as “non-material” by law or regulation or which are expressly referenced in law or regulation as not being subject to disclosure are considered not “pertinent” for purposes of Article 2.

Article 3
PROPERTY BUTLER shall cooperate with other brokers except when cooperation is not in the client’s best interest. The obligation to cooperate does not include the obligation to share commissions, fees, or to otherwise compensate another broker.

• Standard of Practice 3-1
PROPERTY BUTLER, when acting as an exclusive agency or brokers of sellers/ landlords, establish the terms and conditions of offers to cooperate. Unless expressly indicated in offers to cooperate, cooperating brokers may not assume that the offer of cooperation includes an offer of compensation. Terms of compensation, ifany, shall be ascertained by cooperating brokers before beginning efforts to accept the offer of cooperation.

• Standard of Practice 3-2
Any change in compensation offered for cooperative services must be communicated to the otheragent/broker prior to the time that agent/broker submits an offer to purchase/lease the property. After an agent/broker has submitted an offer to purchase or lease property, the listing broker may not attempt to unilaterally modify the offered compensation with respect to that cooperative transaction.

• Standard of Practice 3-3
Standard of Practice 3-2 does not preclude the listing broker and cooperating broker from entering into an agreement to change cooperative compensation.

• Standard of Practice 3-4
PROPERTY BUTLER, acting as listing brokers, have an affirmative obligation to disclose the existence of dual or variable rate commission arrangements (i.e., listings where one amount of commission is payable if the listing broker’s firm is the procuring cause of sale/lease and a different amount of commission is payable if the sale/lease results through the efforts of the seller/landlord or a cooperating broker). The listing broker shall, as soon as practical, disclose the existence of such arrangements to potential cooperating brokers and shall, in response to inquiries from cooperating brokers, disclose the differential that would result in a cooperative transaction or in a sale/lease that results through the efforts of the seller/landlord. If the cooperating broker is a buyer/tenant representative, the buyer/tenant representative must disclose such information to their client before the client makes an offer to purchase or lease.

• Standard of Practice 3-5
It is the obligation of sub-agents to promptly disclose all pertinent facts to the principal’s or Property Butler prior to as well as after a purchase or lease agreement is executed.

• Standard of Practice 3-6
PROPERTY BUTLER shall NOT disclose the existence of accepted offers, including offers with unresolved contingencies, to any broker seeking cooperation.

• Standard of Practice 3-7
When seeking information from another agent concerning property under a management or listing agreement, PROPERTY BUTLER shall disclose their agency status and whether their interest is personal or on behalf of a client and, if on behalf of a client, their relationship with the client.

• Standard of Practice 3-8
PROPERTY BUTLER shall not misrepresent the availability of access to show or inspect a listed property.

• Standard of Practice 3-9
PROPERTY BUTLER shall not provide access to listed property on terms other than those established by the owner or the listing broker.

• Standard of Practice 3-10
The duty to cooperate established in Article 3 relates to the obligation to share information on listed property,and to make property available to other brokers for showing to prospective purchasers/tenants when it is inthe best interests of sellers/landlords only.

• Standard of Practice 3-11
PROPERTY BUTLER may not refuse to cooperate on the basis of a broker’s race, colour, religion, sex, handicap, familial status, national origin, sexual orientation, or gender identity.

Article 4
PROPERTY BUTLER shall not acquire an interest in or buy or present offers from themselves, any member of their immediate families, their firms or any member thereof, or any entities in which they have any ownership interest, any real property without making their true position known to the owner or the owner’s agent or broker. In selling property they own, or in which they have any interest, PROPERTY BUTLER shall reveal their ownership or interest in writing to the purchaser or the purchaser’s representative.
• Standard of Practice 4-1
For the protection of all parties, the disclosures required by Article 4 shall be in writing and provided byPROPERTY BUTLER prior to the signing of any contract.

Article 5
PROPERTY BUTLER shall not undertake to provide professional services concerning a property or its value where they have a present or contemplated interest unless such interest is specifically disclosed to all affected parties.

Article 6
PROPERTY BUTLER shall not accept any commission, rebate, or profit on expenditures made for their client, without the client’s knowledge and consent. When recommending real estate products or services (e.g., interior contracting services, legal agreement drafting, marketing services, property management, etc.), PROPERTY BUTLER shall disclose to the client or customer to whom the recommendation is made any financial benefits or fees, other than real estate referral fees, PROPERTY BUTLER or its agents, owners, directors make.

Standard of Practice 6-1
PROPERTY BUTLER shall not recommend or suggest to a client or a customer the use of services of another organization or business entity in which they have a direct interest without disclosing such interest at the time of the recommendation or suggestion.

Article 7
In a transaction, PROPERTY BUTLER shall not accept compensation from more than one party, even if permitted by law, without disclosure to all parties and the informed consent of the client or clients.

Article 8
PROPERTY BUTLER shall keep in a special account in an appropriate financial institution, separated from their own funds, monies coming into their possession in trust for other persons, such as escrows, trust funds, clients’ monies, and other like items.

Article 9
PROPERTY BUTLER, for the protection of all parties, shall assure whenever possible that all agreements related to real estate transactions including, but not limited to, listing and representation agreements, purchase contracts, and leases are in writing 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 to such agreements upon their signing or initialling.

• Standard of Practice 9-1
For the protection of all parties, PROPERTY BUTLER shall use reasonable care to ensure that documents pertaining to the purchase, sale, or lease of real estate are kept current through the use of written extensions or amendments. •

• Standard of Practice 9-2
When assisting or enabling a client or customer in establishing a contractual relationship (e.g., listing and representation agreements, purchase agreements, leases, etc.) electronically, PROPERTY BUTLER shall make reasonable efforts to explain the nature and disclose the specific terms of the contractual relationship being established prior to it being agreed to by a contracting party.

Duties to the Public
Article 10
PROPERTY BUTLER shall not deny equal professional services to any person for reasons of race, colour, religion,sex, handicap, familial status, national origin, sexual orientation, or gender identity. PROPERTY BUTLER shall not be parties to any plan or agreement to discriminate against a person or persons on the basis of race, colour, religion, sex, handicap, familial status, national origin, sexual orientation, or gender identity.

PROPERTY BUTLER, in their real estate employment practices, shall not discriminate against any person or persons on the basis of race, colour, religion, sex, handicap, familial status, national origin, sexual orientation, or gender identity.

• Standard of Practice 10-1
When involved in the sale or lease of a residence, PROPERTY BUTLER shall not volunteer information regarding the racial, religious or ethnic composition of any neighbourhood nor shall they engage in any activity which may result in panic selling, however, PROPERTY BUTLER may provide other demographic information.

Standard of Practice 10-2
When not involved in the sale or lease of a residence, PROPERTY BUTLER may provide demographic information related to a property, transaction or professional assignment to a party if such demographic information is (a) deemed by PROPERTY BUTLER to be needed to assist with or complete, in a manner consistent with Article 10, a real estate transaction or professional assignment and (b) is obtained or derived from a recognized, reliable, independent, and impartial source. The source of such information and any additions, deletions, modifications, interpretations, or other changes shall be disclosed in reasonable detail.

• Standard of Practice 10-3
PROPERTY BUTLER shall not print, display or circulate any statement or advertisement with respect to selling or renting of a property that indicates any preference, limitations or discrimination based on race, colour,religion, sex, handicap, familial status, national origin, sexual orientation, or gender identity.

• Standard of Practice 10-4
As used in Article 10 “real estate employment practices” relates to employees and independent contractors providing real estate-related services and the administrative and clerical staff directly supporting those individuals.

• Standard of Practice 10-5
PROPERTY BUTLER must not use harassing speech, hate speech, epithets, or slurs based on race, colour,religion, sex, handicap, familial status, national origin, sexual orientation, or gender identity.

Article 11
The services which PROPERTY BUTLER provide to their clients and customers shall conform to the standards of practice and competence which are reasonably expected in the specific real estate disciplines in which they engage; specifically, residential real estate brokerage, real property management, commercial and industrial real estate brokerage, land brokerage, real estate appraisal, real estate counselling, real estate syndication, real estate auction, and international real estate. PROPERTY BUTLER shall not undertake to provide specialized professional services concerning a type of property or service that is outside their field of competence unless they engage the assistance of one who is competent on such types of property or service, or unless the facts are fully disclosed to the client. Any persons engaged to provide such assistance shall be so identified to the client and their contribution to the assignment should be set forth.

• Standard of Practice 11-1
When PROPERTY BUTLER prepares opinions of real property value or price they must: 1)  Be knowledgeable about the type of property being valued, 2)  Have access to the information and resources necessary to formulate an accurate opinion, and 3)  Be familiar with the area where the subject property is located unless lack of any of these is disclosed to the party requesting the opinion in advance.

When an opinion of value or price is prepared other than in pursuit of a listing or to assist a potential purchaser in formulating a purchase offer, the opinion shall include the following unless the party requesting the opinion requires a specific type of report or different data set:

1) Identification of the subject property
2) Date prepared 3) Defined value or price
4)  Limiting conditions, including statements of purpose(s) and intended user(s) 5)  Any present or contemplated interest, including the possibility of representing the seller/landlord or buyers/tenants 6)  Basis for the opinion, including applicable market data 7)  If the opinion is not an appraisal, a statement to that effect 8)  Disclosure of whether and when a physical inspection of the property’s exterior was conducted 9)  Disclosure of whether and when a physical inspection of the property’s interior was conducted 10)  Disclosure of whether PROPERTY BUTLER has any conflicts of interest

• Standard of Practice 11-2
The obligations of the Code of Ethics in respect of real estate disciplines other than appraisal shall be interpreted and applied in accordance with the standards of competence and practice which clients and the public reasonably require to protect their rights and interests considering the complexity of the transaction, the availability of expert assistance, and, where PROPERTY BUTLER is an agent or sub-agent, the obligations of a fiduciary.

• Standard of Practice 11-3
When PROPERTY BUTLER provides consultive services to clients which involve advice or counsel for a fee (nota commission), such advice shall be rendered in an objective manner and the fee shall not be contingent on the substance of the advice or counsel given. If brokerage or transaction services are to be provided in addition to consultive services, a separate compensation may be paid with prior agreement between the client and PROPERTY BUTLER.

• Standard of Practice 11-4
The competency required by Article 11 relates to services contracted for between PROPERTY BUTLER and their clients or customers; the duties expressly imposed by the Code of Ethics; and the duties imposed by law or regulation.

Article 12
PROPERTY BUTLER shall be honest and truthful in their real estate communications and shall present a true picture in their advertising, marketing, and other representations. PROPERTY BUTLER shall ensure that their status as real estate professionals is readily apparent in their advertising, marketing, and other representations, and that the recipients of all real estate communications are, or have been, notified that those communications are from a real estate professional.

• Standard of Practice 12-1
Unless they are receiving no compensation from any source for their time and services, PROPERTY BUTLER may use the term “free” and similar terms in their advertising and in other representations only if they clearly and conspicuously disclose: 1)  By whom they are being, or expect to be, paid; 2)  Any conditions associated with the payment, offered product or service, and; 3)  Any other terms relating to their compensation.

Standard of Practice 12-2
The offering of premiums, prizes, merchandise discounts or other inducements to list, sell, purchase, or lease is not, in itself, unethical even if receipt of the benefit is contingent on listing, selling, purchasing, or leasing through PROPERTY BUTLER when making the offer. However, PROPERTY BUTLER must exercise care and cand our in any such advertising or other public or private representations so that any party interested in receiving or otherwise benefiting from PROPERTY BUTLER’s offer will have clear, thorough, advance understanding of all the terms and conditions of the offer. The offering of any inducements to do business is subject to the limitations and restrictions of the law and the ethical obligations established by any applicable Standard of Practice.

Standard of Practice 12-3
PROPERTY BUTLER shall not offer for sale/lease or advertise property without authority. When acting as listing brokers or as sub-agents, PROPERTY BUTLER shall not quote a price different from that agreed upon with the seller/landlord.

Standard of Practice 12-4
PROPERTY BUTLER shall not advertise nor permit any person employed by or affiliated with them to advertise real estate services or listed property in any medium (e.g., electronically, print, radio, television, etc.) without disclosing the name of PROPERTY BUTLER in a reasonable and readily apparent manner either in the advertisement or in electronic advertising via a link to a display with all required disclosures.

Standard of Practice 12-5
PROPERTY BUTLER, when advertising unlisted real property for sale/lease in which they have an ownership interest, shall disclose their status as both owners/landlords and as an agent or real estate licensees.

Standard of Practice 12-6 Only agents who participated in the transaction as the listing broker or cooperating broker (selling broker)may claim to have “sold” the property. Prior to closing, a cooperating broker may post a “sold” sign only with the consent of the listing broker.

Standard of Practice 12-7
The obligation to present a true picture in representations to the public includes information presented, provided, or displayed on PROPERTY BUTLER’s website. PROPERTY BUTLER shall use reasonable efforts to ensure that information on their websites is current. When it becomes apparent that information onPROPERTY BUTLER’s website is no longer current or accurate, PROPERTY BUTLER shall promptly take corrective action.

Standard of Practice 12-8
PROPERTY BUTLER’s website shall disclose the firm’s name and state(s) of listed properties in a reasonable and readily apparent manner.

Standard of Practice 12-9
PROPERTY BUTLER’ obligation to present a true picture in their advertising and representations to the public includes Internet content, images, and the URLs and domain names they use, and prohibits PROPERTY BUTLER from: 1)  Engaging in deceptive or unauthorized framing of properties; 2)  Manipulating (e.g., presenting content developed by others) listing and other content in any way that produces a deceptive or misleading result;
3)  Deceptively using meta tags, keywords or other devices/methods to direct, drive, or divert Internet traffic; or 4)  Presenting content developed by others without either attribution or without permission; or 5)  Otherwise misleading consumers, including use of misleading images.

Standard of Practice 12-10
PROPERTY BUTLER employees intending to share or sell consumer information gathered via the Internet shall disclose that possibility in a reasonable and readily apparent manner.

Standard of Practice 12-11
PROPERTY BUTLER shall not: 1)  Use URLs or domain names that present less than a true picture, or 2)  Register URLs or domain names which, if used, would present less than a true picture.

• Standard of Practice 12-12
The obligation to present a true picture in advertising, marketing, and representations allows PROPERTYBUTLER to use and display only professional designations, certifications, and other credentials to which they are legitimately entitled.

Article 13
PROPERTY BUTLER shall not engage in activities that constitute the unauthorized practice of law and shall recommend that legal counsel be obtained when the interest of any party to the transaction requires it.

Article 14
If charged with unethical practice or asked to present evidence or to cooperate in any other way, in any professional standards proceeding or investigation, PROPERTY BUTLER shall place all pertinent facts before the proper tribunals, courts of law, arbitrators and shall take no action to disrupt or obstruct such processes.

• Standard of Practice 14-1
PROPERTY BUTLER shall not make any unauthorized disclosure or dissemination of the allegations, findings, or decision developed in connection with a legal hearing or appeal or in connection with an arbitration hearing or procedural review.

Duties to PROPERTY BUTLER
Article 15
PROPERTY BUTLER shall not knowingly or recklessly make false or misleading statements about other real estate professionals, their businesses, or their business practices.

• Standard of Practice 15-1
PROPERTY BUTLER shall not knowingly or recklessly file false or frivolous lawsuits or complaints.

• Standard of Practice 15-2
The obligation to refrain from making false or misleading statements about other real estate professionals, their businesses, and their business practices includes the duty to not knowingly or recklessly publish, repeat, retransmit, or republish false or misleading statements made by others. This duty applies whether false or misleading statements are repeated in person, in writing, by technological means (e.g., the Internet), or by any other means.

• Standard of Practice 15-3
The obligation to refrain from making false or misleading statements about other real estate professionals, their businesses, and their business practices includes the duty to publish a clarification about or to remove statements made by others on electronic media PROPERTY BUTLER controls once PROPERTY BUTLER knows the statement is false or misleading.

Article 16
PROPERTY BUTLER shall not engage in any practice or take any action inconsistent with exclusive representation or exclusive brokerage relationship agreements that other agents have with clients.

• Standard of Practice 16-1
Article 16 is not intended to prohibit aggressive or innovative business practices which are otherwise ethical and does not prohibit disagreements with other agents involving commission, fees, compensation or other forms of payment or expenses.

• Standard of Practice 16-2
Article 16 does not preclude PROPERTY BUTLER from making general announcements to prospects describing their services and the terms of their availability even though some recipients may have entered into agency agreements or other exclusive relationships with another agent. A general telephone canvass, general mailing or distribution addressed to all prospects in a given geographical area or in a given profession, business, club, or organization, or other classification or group is deemed “general” for purposes of this standard.

Article 16 is intended to recognize as unethical two basic types of solicitations:
First, telephone or personal solicitations of property owners who have been identified by a real estate sign, multiple listing compilation, or other information service as having exclusively listed their property with another agent and

Second, mail or other forms of written solicitations of prospects whose properties are exclusively listed with another agent when such solicitations are not part of a general mailing but are directed specifically to property owners identified through compilations of current listings, “for sale” or “for rent” signs, or other sources of information required by Article 3 to be made available to other agents under offers of subagency or cooperation.

• Standard of Practice 16-3
Article 16 does not preclude PROPERTY BUTLER from contacting the client of another broker for the purpose of offering to provide, or entering into a contract to provide, a different type of real estate service unrelated to the type of service currently being provided (e.g., property management as opposed to brokerage) or from offering the same type of service for property not subject to other brokers’ exclusive agreements. However, information received through any other offer of cooperation may not be used to target clients of other agents to whom such offers to provide services may be made.

Standard of Practice 16-4
PROPERTY BUTLER shall not solicit a listing which is currently listed exclusively with another broker. However, if the listing broker, when asked by PROPERTY BUTLER, refuses to disclose the expiration date and nature of such listing, i.e., an exclusive right to sell, an exclusive agency, open listing, or other form of contractual agreement between the listing broker and the client, PROPERTY BUTLER may contact the owner to secure such information and may discuss the terms upon which PROPERTY BUTLER might take a future listing or, alternatively, may take a listing to become effective upon expiration or rightful termination of any existing exclusive listing.

Standard of Practice 16-5
PROPERTY BUTLER shall not solicit buyer/tenant agreements from buyers/ tenants who are subject to exclusive buyer/tenant agreements. However, if asked by PROPERTY BUTLER, the broker refuses to disclose the expiration date of the exclusive buyer/tenant agreement, PROPERTY BUTLER may contact the buyer/tenant to secure such information and may discuss the terms upon which PROPERTY BUTLER might enter into a future buyer/tenant agreement or, alternatively, may enter into a buyer/tenant agreement to become effective upon the expiration of any existing exclusive buyer/tenant agreement.

Standard of Practice 16-6
When PROPERTY BUTLER is contacted by the client of another agent regarding the creation of an exclusive relationship to provide the same type of service, and PROPERTY BUTLER have not directly or indirectly initiated such discussions, they may discuss the terms upon which they might enter into a future agreement or, alternatively, may enter into an agreement which becomes effective upon expiration or termination of any existing exclusive agreement.

Standard of Practice 16-7
The fact that a prospect has retained PROPERTY BUTLER as an exclusive representative or exclusive broker in one or more past transactions does not preclude other agents from seeking such prospect’s future business.

Standard of Practice 16-8
The fact that an exclusive agreement has been entered into with an agent shall not preclude or inhibit any PROPERTY BUTLER from entering into a similar agreement after the expiration of the prior agreement.

Standard of Practice 16-9
PROPERTY BUTLER, prior to entering into a representation agreement, have an affirmative obligation to make reasonable efforts to determine whether the prospect is subject to a current, valid exclusive agreement to provide the same type of real estate service.

Standard of Practice 16-10
PROPERTY BUTLER, acting as buyer or tenant representatives or brokers, shall disclose that relationship to the seller/landlord’s representative or broker at first contact and shall provide written confirmation of that disclosure to the seller/landlord’s representative or broker not later than execution of a purchase agreement or lease.

Standard of Practice 16-11
On unlisted property, PROPERTY BUTLER acting as buyer/tenant representatives or brokers shall disclose that relationship to the seller/landlord at first contact for that buyer/tenant and shall provide written confirmation of such disclosure to the seller/landlord not later than execution of any purchase or lease agreement/ PROPERTY BUTLER shall make any request for anticipated compensation from the seller/landlord at first contact.

• Standard of Practice 16-12
PROPERTY BUTLER, acting as representatives or brokers of sellers/landlords or as sub-agents of listing brokers, shall disclose that relationship to buyers/tenants as soon as practicable and shall provide written confirmation of such disclosure to buyers/tenants not later than execution of any purchase or lease agreement.

Standard of Practice 16-13
All dealings concerning property exclusively listed, or with buyer/tenants who are subject to an exclusive agreement shall be carried on with the client’s representative or broker, and not with the client, except with the consent of the client’s representative or broker or except where such dealings are initiated by the client.

Before providing substantive services (such as writing a purchase offer or presenting a CMA) to prospects,PROPERTY BUTLER shall ask prospects whether they are a party to any exclusive representation agreement.PROPERTY BUTLER shall not knowingly provide substantive services concerning a prospective transaction to prospects who are parties to exclusive representation agreements, except with the consent of the prospects’ exclusive representatives or at the direction of prospects.

Standard of Practice 16-14
PROPERTY BUTLER is free to enter into contractual relationships or to negotiate with sellers/landlords, buyers/tenants or others who are not subject to an exclusive agreement but shall not knowingly obligate them to pay more than one commission except with their informed consent.

Standard of Practice 16-15 In cooperative transactions PROPERTY BUTLER shall compensate cooperating agents (principal brokers) and shall not compensate nor offer to compensate, directly or indirectly, any of the sales licensees employed by or affiliated with other agents without the prior express knowledge and consent of the cooperating broker.

Standard of Practice 16-16
PROPERTY BUTLER, acting as sub-agents or buyer/tenant representatives or brokers, shall not use the terms of an offer to purchase/lease to attempt to modify the listing broker’s offer of compensation to sub-agents or buyer/tenant representatives or brokers nor make the submission of an executed offer to purchase/lease contingent on the listing broker’s agreement to modify the offer of compensation.

Standard of Practice 16-17
PROPERTY BUTLER, acting as sub-agents or as buyer/tenant representatives or brokers, shall not attempt to extend a listing broker’s offer of cooperation and/or compensation to other brokers without the consent of the listing broker.

Standard of Practice 16-18
PROPERTY BUTLER shall not use information obtained from listing brokers through offers to cooperate made through multiple listing services or through other offers of cooperation to refer listing brokers’ clients to other brokers or to create buyer/tenant relationships with listing brokers’ clients, unless such use is authorized by all concerned parties.

Standard of Practice 16-19
Signs giving notice of property for sale, rent, lease, or exchange shall not be placed on property without consent of the seller/landlord.

Standard of Practice 16-20
PROPERTY BUTLER’s agents, prior to or after their relationship with their current firm is terminated, shall not induce clients of their current firm to cancel exclusive contractual agreements between the client and that firm. This does not preclude PROPERTY BUTLER (principals) from establishing agreements with their associated licensees governing assignability of exclusive agreements.

Explanatory Notes
The reader should be aware of the following policies which have been approved by the Board of Directors of PROPERTY BUTLER: In filing a charge of an alleged violation of the Code of Ethics by an employee/agent, the charge must read as an alleged violation of one or more Articles of the Code. Standards of Practice may be cited in support of the charge.

The Standards of Practice serve to clarify the ethical obligations imposed by the various Articles and supplement, and do not substitute for, the Case Interpretations in Interpretations of the Code of Ethics.

Modifications to existing Standards of Practice and additional new Standards of Practice are approved from time to time. Readers are cautioned to ensure that the most recent publications are utilized.