21.10.2008 BULGARIAN PROPERTIES Took Part in National Real Estate Standardization Conference

BULGARIAN PROPERTIES Head Office

On October 17th 2008 BULGARIAN PROPERTIES took part in a national conference on the topic European Requirements to Services Provided by Real Estate Agents. The main topics discussed were related to the project of the European standard regarding the requirements to the services provided by real estate agents, its introduction and implementation in the EU, as well as the advantages of a standardization which will be introduced in Bulgaria under the form of a Bulgarian State Standard.

The standardization will be directed into three directions: the activity of the agencies (services, documents, contracts, procedures, etc.), the qualification of the brokers and the terminology in the branch. After the standard is adopted it will serve for creating a basis for setting up a legal framework for the activities of the agencies, the criteria which they have to meet and the registration regime. Moreover, requirements to the profession broker or real estate agent will be worked out and they will set up the basis for the development of programs for training and acquiring a diploma for this profession.

Another important topic that was discussed during the conference was the ethical side in the branch and the imposing of ethical norms with the aim of improving the image and the trust towards the professional real estate agencies. BULGARIAN PROPERTIES fully supports these initiatives which are backed up by our internal company standards:

• We maintain the highest level of honesty and professional integrity in all of our operations.
• We do not discriminate or deny any equal treatment to clients or to potential clients on the grounds of race, religion, gender or disability.
• All statements and information given in electronic, written or oral form are accurate to the best of our knowledge and are not purposefully exaggerated or misleading.
• All client information is treated in the strictest confidence and is not shared with any third parties, other than as required to manage and fulfill client requirements and transactions.
• We act promptly when receiving any correspondence from clients or potential clients and we respond to every communication within 24 hours.
• We are conversant and up to date with the laws relating to property purchasing and we adhere to these laws and to any changes in them in all of our operations.
• We avoid any conflict of interest in any property transactions.
• We implement training, monitoring and review procedures to ensure that all members of staff within our company understand and follow this Code of Conduct.

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