Professional Standards & Ethics
A Higher Professional StandardA real estate professional’s membership in the Association distinguishes him or her from non-members. REALTORS® voluntarily accept the obligation to meet the standards of practice and conduct outlined in the National Association of REALTORS® (NAR) CODE OF ETHICS AND STANDARDS OF PRACTICE.
This Code of Ethics represents the standard of business practices and establishes a public and professional consensus upon which REALTORS® Members are judged by their peers. Adherence to this nationally recognized Code of Ethics assures the public that a REALTOR® will conduct his or her business in accordance with the Code of Ethics and will provide services that both meet a higher standard than those mandated by law and promote the best interests of the clients and the real estate profession.
Members of the Association are also obligated to conduct themselves and their businesses in accordance with the Association’s rules and regulations, Constitution and Bylaws, as well as the MLS rules and the Bylaws and Constitutions of WeSERV and NAR.
The Association has the responsibility to enforce these standards of professional ethics and conduct. For monetary business disputes, this is accomplished through arbitration or mediation proceedings. For violations of the Code of Ethics, this is accomplished through disciplinary proceedings.
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Code of EthicsREALTORS®' Pledge of Performance and Service
The National Association of REALTORS® adopted the Code of Ethics in 1913, following the professions of medicine, law, and engineering.
REALTORS® are real estate professionals who have chosen to join the National Association and abide by its strict Code of Ethics.
What does this mean to you? It means that any REALTOR® with whom you work has voluntarily agreed to abide by a Code of Ethics, based on professionalism and protection of the public.
REALTORS® are subject to disciplinary action and sanctions if they violate the duties imposed by the Code of Ethics.
The Code of Ethics is a detailed document that spells out the professional responsibilities of every REALTOR®.
Do not hesitate to ask a REALTOR® for a copy of the Code, including the Standards of Practice. The Code is your assurance of dealing with a professional who has your best interests in mind.
The Code of Ethics consists of 17 Articles and related Standards of Practice. The basic principles of the Code are summarized here.
Please note that the following is not a substitute for the Code, but simply a general overview of the Code’s key principles. For additional information about the Code of Ethics and its enforcement, speak with a REALTOR® or contact the local association of REALTORS® nearest you. Code of Ethics
Duties to Clients and Customers
Article 1REALTORS® protect and promote their clients’ interests while treating all parties honestly.
Article 2REALTORS® refrain from exaggeration, misrepresentation, or concealment of pertinent facts related to property or transactions.
Article 3REALTORS® cooperate with other real estate professionals to advance their clients’ best interests.
Article 4When buying or selling on their own account or for their families or firms, REALTORS® make their true position or interest known.
Article 5REALTORS® do not provide professional services where they have any present or contemplated interest in property without disclosing that interest to all affected parties.
Article 6REALTORS® disclose any fee or financial benefit they may receive from recommending related real estate products or services.
Article 7REALTORS® accept compensation from only one party, except where they make full disclosure to all parties and receive informed consent from their client.
Article 8REALTORS® keep the funds of clients and customers in a separate escrow account.
Article 9REALTORS® make sure that details of agreements are spelled out in writing whenever possible and that parties receive copies.
Duties to the Public
Article 10REALTORS® give equal professional service to all clients and customers irrespective of race, color, religion, sex, handicap, familial status, national origin, sexual orientation, or gender identity. REALTORS® do not discriminate in their employment practices.
Article 11REALTORS® are knowledgeable and competent in the fields of practice in which they engage or they get assistance from a knowledgeable professional, or disclose any lack of expertise to their client.
Article 12REALTORS® are honest and truthful in their communications and present a true picture in their advertising, marketing, and in other public representations.
Article 13REALTORS® do not engage in the unauthorized practice of law.
Article 14REALTORS® willingly participate in ethics investigations and enforcement actions.
Duties to REALTORS®
Article 15REALTORS® make only truthful, not misleading, comments about other real estate professionals.
Article 16REALTORS® respect the exclusive representation or exclusive brokerage relationship agreements that other REALTORS® have with their clients.
Article 17REALTORS® arbitrate and mediate financial disagreements with other REALTORS® and with their clients.
(posted with permission by the National Association of REALTORS®)