The Panama Real Estate Code of Conduct for Agents and Agencies (English version)

Duties to Clients and Customers

• Article 1 - Our agents will protect and promote their clients' interests while treating all parties honestly.
• Article 2 - Our agents will refrain from exaggeration, misrepresentation, or concealment of pertinent facts related to property or transactions.
• Article 3 - Our agents will cooperate with other real estate professionals to advance their clients' best interests.
• Article 4 - When buying or selling on their own account or for their families or firms, our agents will make that known.
• Article 5 - Our agents do not provide professional services where they have any present or contemplated interest in property without disclosing that interest to all affected parties.
• Article 6 - Our agents will disclose any fee or financial benefit they may receive from recommending other products or services not related directly to their real estate purchase.
• Article 7 - Our agents will receive compensation from only one party, except where they make full disclosure and receive informed consent from their client.
• Article 8 - Our agents will keep entrusted funds of clients and customers in a separate escrow account, if requested and agreed upon by all related parties.
• Article 9 - Our agents will make sure that contract details are spelled out in writing and that all relevant parties receive copies.

Duties to the Public

• Article 10 - Our agents will give equal professional service to all clients and customers irrespective of race, color, religion, sex, sexual orientation, handicap, familial status, or national origin.
• Article 11 - Our agents are knowledgeable and competent in the fields of practice in which they engage or they get assistance from a knowledgeable professional, or disclose any lack of expertise to their client.
• Article 12 - Our agents will provide an accurate description of the property in their advertising and in other public representations.
• Article 13 - Our agents who are not licensed lawyers do not engage in the unauthorized practice of law

Duties to Other Real Estate Agents

• Article 14 - Our agents will make only truthful, objective comments about other real estate professionals.
• Article 15 - Our agents will respect the exclusive representation or exclusive brokerage relationship agreements that other agents have with their clients.
• Article 16 - Our agents will arbitrate financial disagreements with other agents and with their clients.