FOPDAC and NAEA agree common code of practice.

Following extensive consultation, the National Association of Estate Agents (NAEA) International Division and the Federation of Overseas Property Developers Agents and Consultants (FOPDAC) are pleased to announce that they have agreed a Common Code of Practice and Charter. In them are set out the basic rules that allow the public to buy or sell overseas property with confidence, knowing that their affairs will be handled ethically and professionally. The code has been adopted by the members of both organisations and is based on the years of experience in establishing best practise that both have. In a confusing, unregulated market where 'here today, gone tomorrow' operators are promising financial miracles, the public has to be able to easily identify the good from the bad.
26TH April 2005, (L-R) Ian Tonge, chairman of the NAEA International Division, Christopher Hall, President of NAEA, Adrian Medd, chairman of FOPDAC, Keith Baker, Legal Advisor for FOPDAC.
Ian Tonge, chairman of the NAEA International Division, commented "NAEA members have always set the highest standards of conduct in UK estate agency. With overseas property an increasingly popular part of our members' portfolios this Common Code gives the public an easy way to find a high quality service that's more than just fine words."Chairman of FOPDAC Adrian Medd added "Given the explosion in popularity of overseas property and the fact that people are making life-changing decisions involving large sums of hard-earned money, the very least they should be entitled to is a set of basic standards from those they place their trust in. This code sets those standards and gives the public a choice of literally hundreds of professionals who are committed to upholding them."As a further boost, subject to ratification at forthcoming meetings, both FIABCI (the International Real Estate Federation) with members in 70 countries worldwide and the CEI (Confédération Européenne de l'Immobilier) with members across 13 European countries will also sign up to the Common Code. This will create a massive worldwide network of independent specialists who deal ethically and professionally with every aspect of clients' needs related to residential and commercial property abroad.This is a huge plus for those clients and investors seeking sound advice information and other services before buying property abroad. At the same time our aim is that those who give poor service, mislead clients, are negligent or reckless will either be forced to mend their ways or be driven out of the industry.On adverts, websites or at exhibitions look for these logos and always ask for proof of membership. Only then do you know you are in reliable hands.
FOPDACTel 0870 350 1223http://www.fopdac.com/
NAEATel 019626 496 800http://www.naea.co.uk/

NOTES TO EDITORSAbout FOPDACFOPDAC is the recognised trade association for overseas property professionals. Since 1973 we have offered detailed advice on buying and selling property overseas. Our website www.fopdac.com lists our wide variety of members from property agents and developers to specialist lawyers and currency exchange experts. FOPDAC membership gives a potential client the confidence to make an enquiry knowing that in an unregulated and confusing market they are choosing a reliable, professional company. Clients can then confidently make buying decisions knowing that all aspects will be handled ethically. All our members have been fully vetted before membership to check that their business practice complies with our strict Code of Ethics. Our experienced Business Practices Officer is available to resolve any problems that may arise. Vetting and the Code of Ethics have ensured that problems with FOPDAC members are very rare.About NAEAThe National Association of Estate Agents (NAEA) is the UK's leading professional body for estate agency personnel, representing the interests of over 10,000 members who practice across all aspects of property services both in the UK and overseas. These include residential and commercial sales and lettings, property management, business transfer and auctioneering.The National Association of Estate Agents is dedicated to the goal of professionalism within high street agency. Its aim is to reassure the general public that by appointing an NAEA member to represent them they will receive in return the highest level of integrity and service in both sales and lettings. Each NAEA member is bound by a vigorously enforced Code of Practice and adheres to professional Rules of Conduct. Failure to do so can result in heavy financial penalties and possible expulsion from the association.
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