ICREA is structured around a series of rights and obligations based upon a multilateral agreement. This agreement binds member associations and, through them, the business entities and individuals that make up their membership, to a series of “basic commitments.” These basic commitments pertain to operation of a web site, sharing of core membership data through prescribed standards of electronic data transfer, enforcement of a code of ethics, and financial responsibility for its involvement in the Consortium.
These basic commitments, however, are just the framework for success. True success will be achieved when standards are applied to all transnational transactions undertaken by the real estate professionals represented by its member associations. A second order of standards and best practices are developed as “protocols.”
Protocols are subordinate agreements and member associations can choose which protocols, if any, to sign. However, to gain access to the processes, entitlements, and obligations embodied in a particular protocol, a member association must sign it, signifying agreement to be bound by its terms, rules and standards, and to provide its members the opportunity to voluntarily agree thereto.