10 Facts About the NAR Code of Ethics
March 1, 2005
- Establishing ethical standards for real estate practitioners was the reason for organizing the national association.
- The Code of Ethics—adopted in 1913—was one of the first codifications of ethical duties adopted by any business group and was modeled on ethical codes of physicians, engineers, and lawyers.
- The Code was the precursor to state license laws.
- The Code embodies the “Golden Rule.”
- The Code ensures that consumers are served by requiring REALTORS® to cooperate with each other in furthering clients’ best interests.
- The Code demands respect for others’ exclusive relationships with clients.
- The Code keeps disputes between members “in the family” by requiring REALTORS® to arbitrate.
- The Code consists of 17 Articles, 71 supporting Standards of Practice, and 131 explanatory case interpretations.
- The Code is enforced at the local level through knowledgeable peer panels.
- The Code is a living document subject to ongoing review to ensure it stays relevant. An updated version appears every January in REALTOR® Magazine.
Source: NAR’s Professional Standards Committee
For the Code of Ethics and Arbitration Manual and related products, including the “Code of Ethics and Standards of Practice Pamphlet” (Item #166-288), “Professionalism in Real Estate Practice Booklet” (Item #166-1113), and the Code of Ethics Bookmarker, (Item #166-134), visit REALTOR.org/store.