REALTORS®
A real estate agent is not a REALTOR® until the join NAR, National Association of REALTORS®. When they join NAR, the pledge to abide by the association’s Code of Ethics. This means when you work with REALTORS®, you know they voluntarily agreed to abide by a Code of Ethics, based on professionalism and protection of the public. They face disciplinary action and sanctions if they violate the following duties in the 17 Articles and related Standards of Practice.
The basic principles of the Code summarized below, assures you that you that you are working with an agent concerned about your best interests.
Duties to Clients and Customers
Article 1
REALTORS® protect and promote their client’s interests while treating all parties honestly.
Article 2
REALTORS® refrain from exaggeration, misrepresentation, or concealment of pertinent facts related to property or transactions.
Article 3
REALTORS® cooperate with other real estate professionals to advance their clients’ best interests.
Article 4
When buying or selling on their own account or for their families or firms, REALTORS® make their true position or interest known.
Article 5
REALTORS® do not provide professional services where they have any present or contemplated interest in property without disclosing that interest to all affected parties.
Article 6
REALTORS® disclose any fee or financial benefit they may receive from recommending related real estate products or services.
Article 7
REALTORS® accept compensation from only one party, except where they make full disclosure to all parties and receive informed consent from their client.
Article 8
REALTORS® keep the funds of clients and customers in a separate escrow account.
Article 9
REALTORS® make sure that details of agreements are spelled out in writing whenever possible and that parties receive copies.
Duties to the Public
Article 10
REALTORS® give equal professional service to all clients and customers irrespective of race, color, religion, sex, disability, familial status, national origin, sexual orientation, or gender identity. REALTORS® do not discriminate in their employment practices.
Article 11
REALTORS® are knowledgeable and competent in the fields of practice in which they engage or they get assistance from a knowledgeable professional, or disclose any lack of expertise to their client.
Article 12
REALTORS® are honest and truthful in their communications and present a true picture in their advertising, marketing, and in other public representations.
Article 13
REALTORS® do not engage in the unauthorized practice of law.
Article 14
REALTORS® willingly participate in ethics investigations and enforcement actions.
Duties to REALTORS®
Article 15
REALTORS® make only truthful, not misleading, comments about other real estate professionals.
Article 16
REALTORS® respect the exclusive representation or exclusive brokerage relationship agreements that other REALTORS® have with their clients.
Article 17
REALTORS® arbitrate and mediate financial disagreements with other REALTORS® and with their clients.