The NAR Code of Ethics requires that “agreements shall be in writing, and shall be in clear and understandable language expressing the specific terms, conditions, obligations, and commitments of the parties.” In addition, Standard of Practice 9-1 requires that the agreements be kept current through written extensions or amendments.

Agency and compensation are often thought of as going together when, in fact, they are two separate issues.

When we act in an agency capacity, sellers (and buyers, too) rely on us to protect and promote their interests. That’s the basis of Article 1 of our Code of Ethics. Moreover, Standard of Practice 1-3 of the Code prohibits us from “deliberately misleading the owner as to market value” when trying to secure a listing.

Standard of Practice 16-13 prohibits a REALTOR® from “dealing” with the client of another REALTOR® unless the other REALTOR® gives permission or the client initiates the dealings.

Ethics Q&A.

Since brokers have very limited time, sales associates might not get the ethics training, counseling, and coaching they need. So to help you develop office policies or refine existing ones, here are four areas to address and include in your policy manuals.

We've often heard the admonition "Don't talk to someone else's client! It's unethical! It's illegal!" Is it really accurate to say the Code of Ethics prohibits a REALTOR® from uttering even one word to the client of another REALTOR®?

Making the Code of Ethics stronger and helping REALTORS® become more familiar and comfortable with the principles of the Code were behind changes approved by the NAR Delegate Body at the National Convention in November.

The Code helps us make wise decisions and act appropriately in certain situations. But we must rely on our own ability to think things through and make sound ethical decisions. Remember, the public wants to do business with an ethical real estate professional. And that’s you.

Alternative dispute resolution has received a lot of press over the past several years as the “new way” to solve legal disputes. Yet, for decades, REALTORS® have quietly and effectively been using ADR in their daily business relations with one another.

Deciding when a duty of confidentiality begins isn't easy. Think about it, REALTORS®, and decide how you should protect the public.

Making REALTORS® more comfortable and familiar with the fundamental principles of business ethics and conduct was a guiding force behind REALTOR® Code of Ethics recommendations approved by the NAR Board of Directors last fall.