The Standard says a REALTOR® should have no dealings with another REALTOR®‘s client--and this applies when the client is a relocation company--unless the other REALTORS® gives permission or the dealings are initiated by the client.
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.
The Code of Ethics deal with associates who leave a company and assume they can take listings and buyers under exclusive agreements with them. The Code prohibits REALTORS® from inducing clients of their current company to cancel exclusive contractual agreements between clients and the company.
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.
The NATIONAL ASSOCIATION OF REALTORS® new Model Internet Advertising rule expressly prohibits licensees from displaying and distributing, electronically or otherwise, other licensees' listings without the authorization of the listing broker.
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.
Enhancing the REALTOR® image is an important concern to many of us. If efforts aimed at improving our profession are to endure, it’s essential that we understand and observe the ethical obligations we voluntarily assume when we become REALTORS®.
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®?
First there was E-mail, which moved communication from the telephone to the computer. Then there was the Web page, which brought marketing into cyberspace. Now get ready for e-commerce and the online real estate transaction.
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.
NAR is moving toward making it mandatory for local REALTOR® associations to offer mediation for resolving disputes. Currently, local associations have the option of offering mediation in addition to arbitration.
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.
Abandonment and estrangement happen often in our business. The list of reasons is endless, but when abandonment or estrangement leads to a procuring cause dispute, the Code of Ethics requires that you arbitrate.
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.
As a sales manager, make sure your salespeople understand the fair housing law, state statutes, and the Code of Ethics. Keep them from saying the wrong thing by helping them know what’s the right thing to say.