What is the Code of Ethics and how does it impact me?
NAR’s Code of Ethics is the one factor that distinguishes REALTORS® from other real estate agents. The Code of Ethics is universally recognized by practitioners, attorneys and laymen alike as the measure of professionalism in real estate. When you abide by the Code, it ensures your fellow practitioners and the public of a high standard of business conduct.
Updated annually, in response to changes in the industry, each REALTOR® needs to review the Code when these changes occur.
If a business practice issue or monetary dispute occurs during a transaction, the Code requires that REALTORS® file an ethics complaint or request for arbitration, before they litigate. This process is designed to educate practitioners on appropriate business practices and resolve commission disputes in an expedient and non-costly manner. The Code of Ethics is also an excellent Risk Management tool. Include a copy in your listing presentation packet, to educate clients on the “REALTOR® difference”.