Anuj Puri, Chairman – ANAROCK Property Consultants Pvt. Ltd.
We keep talking of ethical real estate business. Is a ‘code of ethics’ just a fancy manifesto you put on your office wall? Does it mean that the company merely steers clear of illegal dealings?
If that was all there is to real estate ethics, it wouldn’t be saying much. After all, thanks to India’s rather unclear legal system, it is possible to follow the path of dishonesty and self-interest without actually doing something illegal.
I have always thought that in real estate, the legal way can often be the lowest standard.
The fact is, unethical practices in real estate are the product of a short-term, mercenary approach to the business. This phenomenon is most evident in smaller brokerages, which often have no more than a single dealing with many of their customers.
I’m not saying that all small brokerage houses are unethical (I personally know a number of small operators whose business methods are completely above reproach. They know that good ethics equals good business).
What I’m saying is that a professional real estate company that takes ethics seriously,