If your offer wasn’t submitted, that’s a violation of Article 1 of the Code, which requires REALTORS® to treat all parties to a transaction honestly. If you believe your offer hasn’t been given a fair shake, you can file an ethics complaint with your local association.
Rather than wait until the deadline is looming, why not take the time now to reacquaint yourself with and rededicate yourself to the Code and what it stands for? The time you spend with the Code will be time well spent.
The Internet has changed some aspects of the way we do business and encouraged all of us to think up innovative ways to practice real estate. Don’t forget, though, that the Code of Ethics and the law still apply in the online realm.
The law, RESPA, prohibits kickbacks, commissions, and rebates for referring a buyer or seller to a settlement service provider such as a lender. If the payments are for referring business, there’s a violation of RESPA, regardless of whether the broker or salesperson receives payment.
When seller clients instruct listing agents to disclose terms of competing offers, the agents should consult with their broker and attorney to ensure the disclosure is legal in their state and for guidance on how to carry out their clients’ instructions.