Description
Real estate is primarily a business and not a profession. A profession is a disciplined unit of individuals who adhere strictly to ethical standards. This individual tends to possess specialized knowledge and skills that have been derived from research, education, and training at a high level to protect the interest of the public; whereas a business is an organization entity engaged in a commercial or industrial enterprise for the benefit of profit. Unlike a profession that requires skilled and knowledgeable individuals, a business doesn’t. Instead what is needed is his/her ‘interest.’ However welcoming this sounds, the success, and failure of this venture which results in either a reward or loss is to be enjoyed alone, unlike a profession whose reward is shared with others., be it profit or loss. With real estate being a business or a profession, it has no connection with the business ethics governing it.
