Code of Ethics
REALTORS® are members of the National Association of REALTORS® and therefore must subscribe to and uphold the Realtor® Code of Ethics. The Realtor® Code of Ethics contains 17 Articles and various underlying Standards of Practice, and is strictly enforced. The NAR offers Code of Ethics orientation and training materials.
View the 2012 Realtor® Code of Ethics
The National Association of Realtors® has produced 15 educational videos to explain the Code of Ethics. You can view all of them HERE by selecting the “Code of Ethics” icon from the Video Collection.Code of Ethics: A Video Introduction from the NAR (Learn why the code exists, how it applies, how it is enforced, and what is expected of Realtors®.)
Here are 17 things that a REALTOR® promises to do that other real estate agents do not:
#1) Pledge to put the interests of buyers and sellers ahead of their own and to treat all parties honestly.
#2) Shall refrain from exaggerating, misrepresenting or concealing material facts; and is obligated to investigate and disclose when situations reasonably warrant.
#3) Shall cooperate with other brokers / agents when it is in the best interests of the client to do so.
#4) Have a duty to disclose if they represent family members who own or are about to buy real estate, or if they themselves are a principal in a real estate transaction, that they are licensed to sell real estate.
#5) Shall not provide professional services in a transction where the agent has a present or contemplated interest without disclosing that interest.
#6) Shall not collect any commissions without the seller’s knowledge nor accept fees from a third-party without the seller’s express consent.
#7) Shall refuse fees from more than one party without all parties’ informed consent.
#8) Shall not co-mingle client funds with their own.
#9) Shall attempt to ensure that all written documents are easy to understand and will give everybody a copy of what they sign.
#10) Shall not discriminate in any fashion for any reason on the basis of race, color, religion, sex, handicap, familial status, or national origin.
#11) Expects agents to be competent, to conform to standards of practice and to refuse to provide services for which they are unqualified.
#12) Must engage in truth in advertising.
#13) Shall not practice law unless they are a lawyer.
#14) Shall cooperate if charges are brought against them and present all evidence requested.
#15) Agree not to bad mouth competition and agree not to file unfounded ethics complaints.
#16) Shall not solicit another REALTOR’S client nor interfere in a contractual relationship.
#17) Shall submit to arbitration to settle matters and not seek legal remedies in the judicial system.