No. The majority of non-profit real estate organizations have long promoted their own codes of conduct which are a vital part of their member value proposition. Most, if not all, have a similar foundation in that they demand honest, decent and trustworthy behaviour as well as competence in the services offered.

Many codes are based on established norms and customs in specific localities, states or regions and do not claim a global application. Others set out to regulate single disciplines, e.g. brokerage, valuation, architecture or management. They do not attempt to address all sectors of the profession.

The objective of the IES Coalition is to introduce, at an international level, one shared set of values reflecting key principles on which the entire profession can agree and to which all existing codes of conduct will conform. The adoption internationally of fundamental standards will leave a vital and permanent role for individual professional bodies. They will be free to retain their own more detailed and possibly more stringent rules, if they wish, on the understanding that they complement and do not conflict with the IES.