Estate Agencies

Read more about Estate Agencies

Cover

Details Icon

fade-up

container

Corruption Risks

fade-up

container

Compromised estate agents who represent both vendors and purchasers (i.e. dual agents) solicit or accept advantages from vendors or purchasers in exchange for showing favour to one party during property transactions.
Compromised estate agents who represent both vendors and purchasers (i.e. dual agents) solicit or accept additional commission from purchasers for securing a lower price from vendors (i.e. persuading vendors to reduce the asking price).
Unscrupulous estate agents representing purchasers accept bribes from vendors for providing misleading information to purchasers, in order to facilitate a transaction.

fade-up

container

Colluding estate agents solicit or accept illegal rebates in exchange for transferring client data or property listings to other agencies or third parties.
Compromised estate agents accept advantages as a reward for referring clients to banks, law firms or other service providers.

fade-up

container

Unscrupulous estate agents offer advantages to clients or their representatives to secure business deals (e.g. offering advantage to a developer’s representative in exchange for being appointed as the sole agent to handle the sale/tenancy of the developer’s property).
Unscrupulous estate agents offer a rebate to staff of a government department or public body for facilitating a property transaction of the government department/ public body at a higher price.
Colluding estate agents offer “lai see”or other advantages to caretakers or property management staff in return for assistance in letting or selling flats.

fade-up

container

Unscrupulous estate agents fabricate fictitious application records to deceive the company into paying higher commissions.
Staff members submit false reimbursement claims (e.g. inflating or fabricating entertainment expenses) to defraud the company.
Staff members use falsified training certificates or documents to obtain job-related allowance or training subsidies.
Staff members submit false attendance or overtime records to mislead the company into paying allowances.
Staff members falsify or manipulate quotation documents to influence the selection of suppliers or service providers for personal gain.

fade-up

container

Dishonest estate agents defraud banks by inflating the transaction price of properties to obtain higher mortgage loans.
Compromised estate agents facilitate property transactions for clients with suspicious sources of funds, without conducting proper due diligence.
Estate agents fail to declare or properly manage conflicts of interest arising from personal relationships, which may affect their impartiality in a property transaction.

Resources

Practical Guides

Sample Documents/Templates

Leaflets/Posters

107

Training Videos

Case Studies

Integrity Training

The Private Sector Integrity Centre (PSIC) offers free anti-corruption and integrity training to help estate agency companies build an ethical corporate culture and prevent corruption and fraud.

fade-up

General staff

Remain vigilant against corruption risks in daily work

Enhance their knowledge of anti-corruption law

Acquire skills to make ethical decision

Managers

Recognise their managerial role in preventing corruption

Develop the ability to identify and manage corruption risks in daily operations

Acquire practical tips for managing staff integrity

Senior Management

Enhance awareness of the importance of ethical leadership

Stay alert to common red flags and corruption loopholes

Adopt good practices for preventing corruption and fostering an ethical culture

fade-up

container

PSIC organises webinars on the “PSIC Channel” for business practitioners across various sectors and industries. Click here to view details of the upcoming webinars and enroll now!

fade-up

container

PSIC provides free, tailor-made training for estate agents.

Please contact us if you wish to arrange integrity and corruption prevention training.

introduction

The estate agency industry handles property transactions that often involve substantial financial commitments and the lifelong savings of clients. Estate agents and salespersons must therefore act honestly and uphold proper and ethical standards. Corruption or unethical conduct can harm stakeholders and undermine confidence in the property market, Maintaining high standards of integrity is not only a legal obligation but also the foundation of sustainable business practice in the industry.

The Private Sector Integrity Centre (PSIC) offers free anti-corruption and integrity training to help estate agents remain vigilant against corruption risks and uphold high integrity standards. We also provide free corruption prevention advisory services and practical resources to help estate agency companies in strengthening safeguards and fostering an ethical culture.

Showcase Image

Industry Tgas

Estate Agencies

Homepage Icon

Training Package on Corruption Prevention in Procurement

Property Management Industry 物業管理業

Estate Agencies

Estate Agencies

Corruption Risks

Resources

Integrity Training

Training Package on Corruption Prevention in Procurement

Property Management Industry 物業管理業

Estate Agencies

Estate Agencies

Corruption Risks

Sales Process

Business Referral

Securing business deals

Use of false document to deceive the company

Other illegal acts or misconduct

Resources

Integrity Training

Training Objectives

Online Training

Tailor-made Training