​Real Estate- Ethics

Real Estate

Ethics

Objective: (1) Analyze a situation involving ethics in the real estate industry. (2) Improve written communication skills.

Instructions: Read through the following situation. Stop for a moment and make a few notes about how you think you would (honestly) respond to the situation. Then watch the videos from Ethics Unwrapped (Links to an external site.)Links to an external site. and review your notes. Analyze what you think your response would be against the ethical concepts. Finally, prepare a well-written, proof-read paper. Be sure to review the rubric.

Situation:

You are a commercial real estate licensee. You just signed a BIG listing agreement on a piece of land outside of Weatherford. The value of the property is estimated at $1.25 million. Your commission will be 4% of the actual selling price. During your research of the property’s history, however, you learn that the property had toxic waste dumped on it…but only only 5 acres of the total 40 acre tract and it’s been about 40 years since it occurred. The seller is one of your best clients and has asked that you not mention this to potential buyers. The seller is “pretty sure” the ground is not contaminated…

You have a potential buyer interested in the land. The buyer wants to build, among other things, a business that would see a lot of children on the property (maybe a daycare or outdoor recreational area). How will you address the issue of possible toxins? Do you obey the request of the seller? Or do you warn the buyer (and possibly lose the sale)?

Review:

Watch the videos below from Ethics Unwrapped (Links to an external site.)Links to an external site.:

Write:

After considering the situation and watching the videos, answer HONESTLY about how you would handle the situation. Use the Ethics Unwrapped concepts in your paper and analyze the situation and your response through the concepts. (For example, if you would want to keep quiet about the history of the property because you are loyal to your client, you might analyze using obedience to authority.) Then consider which one of the concepts really struck you and why?

Your grade will be based on how well you analyzed the situation, not whether I think you did the “right” thing. It’s important to be honest with yourself in this paper.

Technical Details:

  • Use standard font and margins.
  • Proof read.
  • Include an introduction and conclusion.
  • Word count: between 600 and 700 words.

Rubric

Real Estate Ethics Assignment

Real Estate Ethics Assignment

Criteria Ratings Pts

This criterion is linked to a Learning OutcomeApproach the situation

20.0 to >14.0 pts

Best

Response was a thoughtful and well-written approach regarding the situation. Detailed response. Four to five in-depth sentences discussing the situation.

14.0 to >8.0 pts

Better

Response was mostly thoughtful but did not go in-depth as how you would respond.

8.0 to >5.0 pts

Good

Response was poorly answered with only one to two sentences discussing the situation.

5.0 to >0 pts

Needs More Work

Information provided by student was not related to the topic.

20.0 pts

This criterion is linked to a Learning OutcomeApplication: Ethical Concepts

20.0 to >14.0 pts

Best

Student provided a thoughtful application of the ethical concepts. Application was well written in an easily understandable manner.

14.0 to >8.0 pts

Better

Student provided an application, however, application was not relatable or was not written in an easily understandable manner.

8.0 to >5.0 pts

Good

Ethical concepts were not fully explained or well written.

5.0 to >0 pts

Needs More Work

Student did not explain the ethical concepts.

20.0 pts

This criterion is linked to a Learning OutcomeProper grammar, spelling and format. Include an introduction and conclusion.

10.0 to >8.0 pts

Best

Great job! You proof read your work.

8.0 to >4.0 pts

Better

Yay! You proof read your work…sort of. Maybe spend a little more time on editing.

4.0 to >1.0 pts

Good

Please spend a lot more time editing your work. IDK is not proper spelling or grammar.

1.0 to >0 pts

Needs More Work

Spelling and grammar errors were numerous and distracting to the reader.

10.0 pts

This criterion is linked to a Learning OutcomeBonus Option

0.0 pts

Did not go to the Writing Center

0.0 pts

Went to the writing center

Great Job! Thank you! Worth 5 bonus points. Provided evidence of visit and corrections suggested/made to paper.

0.0 pts

Total Points: 50.0

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