Evaluating the Ethics Toolbox: Institute Combines CPM and ARM Codes of Ethics, Holding All Members to Same Ethical Standards

By Lynch, Eileen | Journal of Property Management, March-April 2006 | Go to article overview
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Evaluating the Ethics Toolbox: Institute Combines CPM and ARM Codes of Ethics, Holding All Members to Same Ethical Standards


Lynch, Eileen, Journal of Property Management


Have you checked your ethics lately? Do they reflect you in the best possible light to your clients, your employer, your employees? Should they be evaluated? Should they be re-tooled?

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Professional real estate management ethics--specifically the IREM codes of ethics--provide a foundation for members' business practices.

In 2005, a workgroup from IREM's ethics and discipline committee performed an in-depth evaluation of the CPM and ARM codes. The ten-member group, chaired by Cher Zucker-Maltese, CPM, tried to determine if the codes needed some fine tuning or if they were already up-to-date, all-encompassing, viable and if they sent the right message--IREM members are held to the highest possible ethical standards--to the marketplace.

The group used the following questions as a framework for its research and evaluation:

* Do the codes protect the public?

* Do the codes promote competition?

* Do the codes reflect current business practices?

* Do the codes require revision?

The group reviewed ethics codes from the National Association of REALTORS[R] and its affiliates, other associations like the National Association of Building Owners and Managers and the International Facility Management Association and financial institutions like Goldman Sachs and Morgan Stanley.

Ethics officers from Prudential, other corporations and Rutgers University were interviewed. The group also drew upon its experiences as members of the three IREM ethics boards--the inquiry, hearing and appeal boards.

The findings showed existing CPM and ARM codes were as good as or better than other codes.

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Evaluating the Ethics Toolbox: Institute Combines CPM and ARM Codes of Ethics, Holding All Members to Same Ethical Standards
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