PIAA Code of Conduct
Guidelines:
PIAA is a not for profit organization whose charter is to provide free and subsided education and information to investors and homebuyers. The purpose of this education is to show them how to acquire appropriate investment information, and, to how to interpret and use it to support their investment choices and decisions.
PIAA supports knowledge being free and buying appropriate experience; know-how from professionals who have done it before. The PIAA website provides a forum for property professionals and other interested parties, to promote and present their ideas and interests to inform investors of their services (link for submission of articles).
PIAA also supports the sharing of information amongst investors and homebuyers through the PIAA educational forum.
PIAA also encourages its subscribers to provide feedback to PIAA on the business practices of property professionals.
The purpose of this is three fold:
PIAA seeks to support the ethical practice of all aspects of property investment and home buying: through this code of conduct, through accreditation of businesses (link) and through feedback from investors (link).
Code of Conduct:
PIAA Subscribers, Accredited Businesses, and all associated parties seek to:
1. Support good industry practices that promote the ethics, and, legal and fiduciary responsibilities of all parties
2. Represent clients interests ethically
3. Keep clients informed of significant issues related to their transaction
4. Promote education for clients
5. Promote PIAA and its code of conduct
6. Disclose actual and potential conflicts of interest.,
For example a common conflict of interest is in providing ‘free’ education for investors that is in reality designed to promote a particular development they have a financial interest in.7. Disclose commissions
8. To only provide Financial Advice in relation to property when you are suitably qualified ie PIAA accreditation
9. To promote this Code of Conduct to investors and homebuyers to enable them to provide performance feedback to PIAA.
10. To respect colleagues in the industry whether they are in your business practice or not
11. Comply with applicable Australian Laws and Standards including the Trade Practices Act
12. Maintain client and business confidentiality unless expressly permitted to do otherwise
13. Not to make improper use of inside information
14. To provide true and accurate information to any legal or ethical investigation into a breach of Australian Laws or this Code of Conduct
15. Agree to participate in a dispute resolution system to resolve conflict, especially between investors and property professionals.
16. Direct clients to other professionals when information outside your specialty is required to support the investor’s prudent decision making
General