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Ethics For the Real Estate Investor


Ethics has to do with what my feelings tell me is right or wrong. ... Caveat Emptor. Pleasure vs. Pain. Conscience Vs. Immediate Self Interest. Kierkegaard ' ... – PowerPoint PPT presentation

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Title: Ethics For the Real Estate Investor

Ethics For theReal Estate Investor
What Is Ethics?
  • I don't know what it means to be ethical.
  • Ethics has to do with what my feelings tell me is
    right or wrong.
  • Ethics has to do with religious beliefs.
  • Being ethical is doing what the law requires.
  • Ethics consists of standards of behavior our
    society accepts.

Dr. Roger Manley, Professor Of Management And
Organizational Psychology, FIT
  • To ridicule philosophy is truly philosophical.
    Pascal (1623-1662)
  • An ethical man is a Christianholding four
    acesMark Twain

Who Am I?
  • What qualifies me to Teach you Ethics?
  • Am I perfect?
  • Randy Cohen
  • "The Ethicist" column for The New York Times

  • Wise men learn more from foolsthan fools from
    the wise.
  • Cato the Elder (234-149 B.C.E.)

The Philosophy of Ethics
  • Right
  • Kindness
  • Fairness
  • Morality
  • Honesty
  • Integrity

The Philosophy of Ethics
  • Caveat Emptor
  • Pleasure vs. Pain
  • Conscience Vs. Immediate Self InterestKierkegaard
  • With the Flow versus Against the Flow

  • An ethical person ought to do more than he's
    required to do and less than he's allowed to do
  • Unkown
  • Being ethical is never just a matter of being a
    good rule-follower. It's exceedingly more than
    that. Rules and laws by their very nature usually
    prescribe, at best, only minimum standards of
    ethical behaviour.
  • Character is Destiny - The Value of Personal
    Ethics in Everyday LifeProfessor Russell Gough

Why Care?
  • It feels better
  • Its good for you and your health
  • You will get referrals for more business
  • You will be trusted
  • You cant separate your business and personal
    life with regards to your attitude towards ethics

  • Forcing investors to be ethical doesn't work.
  • they must realize the importance of ethics.
    Ethics leads to the most vital ingredient in any
    relationship - trust. Of all the strategies to
    attract business, nothing is as powerful or as
    profitable as ethics. And nothing is harder,
    especially in the short-term. It takes courage to
    follow high ethical standards. In the long-term,
    however, the rewards to all the parties are
  • Adapted from
  • Ethics is Real Estate

  • When his heart forsakes fairness and his deeds
    turn depraved, A man realizes deep within
    himself, "I am ruined."
  • ThirukkuralValluvar 2nd Century AD

Why Does REAPS Care?
  • Creative Real Estate Investing is a Target
  • Its not a Local Problem - North Carolina, Texas,
    Colorado, Illinois, Florida
  • Legislation is almost alwaysa response to
    somethingwhich has ALREADY occurred!!!

  • People are more ethical than they think and far
    more unethical than they can imagine.
  • Adapted from a quote by Sigmund Freud

The Basics
  • Walk the Talk
  • Say What You Do Do What You Say
  • Treat Others with Respect
  • Yes Do Unto Others
  • Is Staying Legal Enough?

The Gold Standard?
  • The Neighborhood Gossip Test
  • or
  • Seattle Times Page 1

  • They do more harm by their evil example than by
    their actual sin.
  • Cicero

REAPS Code of Ethics
  • See Your Handout

  • A man's ethical behavior should be based
    effectually on sympathy, education, and social
    ties no religious basis is necessary. Man would
    indeed be in a poor way if he had to be
    restrained by fear of punishment and hope of
    reward after death.
  • Albert Einstein

Acting Ethically
  • is the safest, most liability-free way to run
    your business.
  • Is this good?
  • Does it conflict withHe Who Dares, wins?

  • We strive to act ethically because we believe it
    is fundamentally right to do so, but also because
    it would be dreadful to live in a world where
    suspicion reigned, where all transactions were
    conducted from behind bullet-proof glass, and
    where, when our dinner guests departed, we had to
    count our spoons.
  • Randy Cohen

  • Do you have any questions?
  • Dont forget the October Super Conference!