Magazine article Journal of Property Management

The Motivation to Stay Ethical Good Ethics Equal Good Business

Magazine article Journal of Property Management

The Motivation to Stay Ethical Good Ethics Equal Good Business

Article excerpt

LIKE TRYING TO "UN-RING" A BELL, IT IS VIRTUALLY IMPOSSIBLE TO REHABILITATE OR REPAIR A TARNISHED PERSONAL AND/OR CORPORATE REPUTATION.

Ethical behavior, or the lack thereof, is inherent. It speaks of an individual's or company's character, honesty, integrity, trustworthiness and reputation. To act and perform ethically is the right thing to do; in the increasingly challenged business and real estate industries, it is simply common sense and good business practice. Regardless of the shifting standards around us, an IREM Member has pledged to uphold uncompromising ethics and standards.

The motivation for the professional real estate manager to stay ethical in his or her personal and professional life is simple: Good ethics equal good business. One's solid reputation leads to both financial and personal rewards. In a field driven by reputation and referrals, your ethics are a currency you can use in any job market to secure meaningful and rewarding assignments. Like-minded clients who seek out and appreciate both expertise and ethics know successful real estate management is based upon respect and trust.

There are two basic and equally important components of success: First, what you know about your job; second, how you do your job. Both are well reflected in the IREM Member Pledge and fourteen articles of the IREM Code of Professional Ethics. The first component--what you know about your job--is tied to your skill sets, expertise, education, knowledge and experience. All of these traits are to be continually upgraded, updated and enhanced and applied in your professional practice. …

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