Code of Professional Ethics Preamble
The Pennsylvania Auctioneer and Auction Licensing Act sets forth the guidelines and requirements by which the Pennsylvania Auctioneer may sell real estate and personal property at public auction. The Pennsylvania Auctioneers Association PAA) members are committed to support all provisions of the licensing act and are committed to serve their customers, both buyers and sellers, with integrity and fair dealing and actions that will serve to upgrade the image of the association and the auction industry.
Further, the goals of this association will be to improve professional relationships and to earn increased public acceptance of the auction method. It is a fundamental belief of the Pennsylvania Auctioneers Association that our commitment to highly ethical and professional practices will strengthen our association and provide important visibility to our industry.
The PAA Auctioneer shall be loyal to the PAA and will willingly contribute his time and effort by serving the association as officer and committee member, and attend meetings and events scheduled by the association.
The PAA Auctioneer shall actively encourage membership of new auctioneers into the membership of the PAA.
The PAA Auctioneer will willingly share his experience and expertise with other members of the association, and all members shall be committed to the improvement and results of the auction industry, in addition to his own business.
Relationship to Clients
The PAA Auctioneer shall be committed to competency in his field of expertise and shall keep abreast of laws and regulations which affect the type of real or personal property he is selling.
The PAA Auctioneer shall be committed to abide by all the regulations and laws relating to his field of endeavor.
The PAA Auctioneer shall keep abreast of the current market values of the commodities he is selling in order to provide the seller with accurate information to make a proper decision.
The PAA Auctioneer shall require a written contract where the terms and conditions are clearly stated, and where the terms and conditions are reviewed and understood by the parties to the contract.
The PAA Auctioneer shall use his best efforts to properly advertise and promote the property being sold and represent accurately, clearly and fairly all property and merchandise being sold.
The PAA Auctioneer shall always expend his best efforts to achieve the best possible results for his clients.
The PAA Auctioneer subscribes to the code of ethics enumerated herein and agrees to be bound by this code of ethics.
Relationships to Public
The PAA Auctioneer shall be honest and forthright in all advertising and representation of property to be sold and shall disclose all known defects and conditions clearly and fairly.
The PAA Auctioneer shall clearly spell out all the sales terms and responsibilities of the buyer and, if property is sold at “absolute auction,” the sale shall be without limit, favor or reserve.
The PAA Auctioneer will not bid for or buy for himself any real or personal property at an auction he is conducting or knowingly use false bidders.
The PAA Auctioneer shall be committed to bringing buyer and seller together in the most equitable and fair means possible and will strive to uphold the highest level of ethical and moral practices.