By: Gary Krieger

Ethics in Real Estate

We hear a lot about the lack of ethics in real estate transactions.  But, does it have to be that way?  I would state categorically NOT.  If one approaches any transaction with good intentions, with the presumption that things will be right, and with the aim of behaving honorably, there is a very good chance that things will go well.  Often time, by acting as one would like to be treated, the other party responds in like kind.

Does ethically mean one should not negotiate ferociously?  No!  Does ethically mean one should roll over if the other party to the transaction is behaving badly?  No!  Does ethically mean one must acquiesce to all the other party’s demands?  Absolutely not!  Negotiation is a process of give and take on key issues.  Often, the mark of a good negotiation is when each side of the transaction comes away feeling that the other side got a little too much.
So, what does ethically mean?  The dictionary defines ethics as, “A set of principles of right conduct.”  I would suggest we can behave according to a set of principles of right conduct and still get great deals.  And, we still leave the same escape clauses in the contracts so that if one finds himself/herself in a transaction with someone who is not behaving in a like manner, one has the ability to cancel the contract and move on.

Let’s keep ethics and morality in real estate transactions!  And, let’s fight like crazy to get extraordinary deals in the process.  These two statements are not mutually exclusive and in fact are quite doable.  The feeling of accomplishing this provides a high level of satisfaction and is often quite long lasting!

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