fig congress 2018 - globalized ethics
Robert W. Foster
In the 17th and 18th Centuries international trade in land involved a European adventurer planting a flag on a piece of unexplored land on an undeveloped continent, then claiming it “for the king.” It is more complicated today in this age of globalization, in which large amounts of capital are exchanged through a myriad of marketing systems, investment, currency exchange and political consideration. Real estate professionals of all stripes are involved including lawyers, realtors, appraisers, agents, bankers and surveyors. Laws and national policies on land markets differ from country to country and require the careful research of the various professionals involved, a complicated but achievable process. What is not so easy is navigating the labyrinth of customs and ethical practices of the many cultures participating in international real estate mercantilism. The ethics of the professions, internationally, is a subject that has become of some considerable concern. Because real estate is integral to whole societies and economies, it shapes and influences the world we live in and represents a significant proportion of all global wealth. For this reason professionals have a duty to uphold the highest standards.
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