Good ethics equal good business. Like trying to "un-ring" a bell, it is virtually impossible to rehabilitate or repair a tarnished personal and/or corporate reputation.
Ethical behaviour, 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. We have pledged to do so and our clients expect this.
The second component is how you do your job. This speaks directly to your personal ethics, integrity and reputation. The effective real estate professional knows that both components are required to achieve personal and career success. No matter how skilled and knowledgeable you are, if your reputation and ethics are questionable, who will hire you - and why?
Proudly promote your ethics and professional standards as you would your experience, expertise, academic credentials and the CPM designation. Together, our ethics and skills set us apart and above the competition and help us prosper in any job market.
Take a moment to review the IREM Code of Professional Ethics, and in particular our Pledge, which includes our responsibility "to maintain the highest moral and ethical standards consistent with the objectives and higher purpose of the Institute." The Code is our commitment and bond to clients, the public, our fellow members and each other. We should always be motivated and proud to embody these noble goals. Just as you were originally motivated to achieve your CPM designation, so should you be to promote and enhance both the reputation of IREM - and in turn yourself.
Originally published in the IREM Journal of Property Management
William McCarthy, CPM
William is Property Developer, Manager and Counselor for W.P.J McCarthy and Company Ltd., AMO in Burnaby, B.C., Canada. He is also past-president of the Real Estate Institute of Canada (REIC)