The ethical issues I may encounter while working as a professional in commercial real estate - Essay Example

he country and it is very difficult for anyone who is not associated with the real estate industry to understand the degree of what happens behind the scenes. Numerous consumers are conned and in the current times that are characterised by increased consumer protection, it is astonishing that the ethical issues that exist in the real estate industry are rarely mentioned. In this regard, it is vital for them to clearly understand the ethics governing the field and thus be in a position to handle themselves professionally and realize the best results.

There are three main reasons why the protection of consumers is poor particularly in the real estate industry. One of the main reasons is that the real estate industry involves a lot of money, efforts to straighten the industry would be beneficial to consumers while having negative effects on the interests of the agents, and others associated with this industry (Dewatripont et al., 2010, p. 47). The agents control the real estate industry and they are consulted in the event that the government wants to streamline the industry.

In such a case, the real estate sector misleads the government as well as the customers. Most of the consumers who buy and sell real estates do it once or twice in their lives. This means that they have to seek guidance from agents to conduct this business making it hard for them to realize how much they might lose in a transaction. In the commercial real estate industry, dubious behaviour still goes unnoticed. Previously, cash commissions were used in some instances to circumvent taxes but currently, there are different ethical infractions that have been developed as more money continues to be associated with the industry.

The brokers, lawyers as well as analysts have stated that circumventing and cutting corners is on the increase in this industry especially because of the rising property values. The lifeblood of the real estate business lies in comparable deals but the rules that govern the