Ethics+and+Law+in+Marketing+of+Real+Estate

Ethics and Law in Ma - Click to edit Master subtitle style Ethics and Law in the Selling of Real Estate The legal test The motive test The

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Unformatted text preview: Click to edit Master subtitle style Ethics and Law in the Selling of Real Estate The legal test The motive test The consequence test The utilitarian test The rights test The justice test The social contract test The duties test Ethics Tests Real estate laws ◦ The Deceptive Trade Practices Act  Ex: you say all’s good, when the foundation is cracked ◦ Interstate Land Sales Full Disclosure Act  Report conditions of sales and properties to HUD ◦ Real Estate Settlement Procedures Act (RESPA) ◦ Equal Credit Opportunity Act  Can’t deny anyone a house (mostly single moms) ◦ Truth in Lending Act  Can’t say interest is 8% when it’s really 10% ◦ Fair Housing Law  Can’t discriminate on race, color, familial status, etc. ◦ National Environmental Policy Act (NEPA)  Housing can’t impact environment in negative way (pollution, animals, etc.) ◦ Flood Disaster Protection Act ◦ Clear Air Amendment The Legal Test...
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This note was uploaded on 08/23/2011 for the course MARKETING 3104 at Virginia Tech.

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Ethics and Law in Ma - Click to edit Master subtitle style Ethics and Law in the Selling of Real Estate The legal test The motive test The

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