Realtor Code of Ethics
As a member of the National Association of Realtors, each realtor must subscribe to the Realtor Code of Ethics. This code was adopted in 1913 and is strictly enforced by the local real estate boards. The Realtor Code of Ethics consists of 17 Articles and contains many underlying standards of practice.
Here are the 17 things that Realtor must abide by while conducting his business.
- A Realtor must put the interest of the buyers and sellers ahead of their own and treat each party with honesty.
- A Realtor should not misrepresent, exaggerate, conceal material facts about the home and property. He is also obligated to investigate and disclose facts they are privy to.
- A Realtor should cooperate with other brokers and agents when it is in the best interest of their client.
- A Realtor must disclose that they are representing family members who are about to buy or sell real estate, and also it they themselves are the principal owner or buyer in the real estate transaction.
- A Realtor should avoid providing professional services if the agent involved has potentially interested which was not disclosed.
- A Realtor should not collect any commissions that had not been discussed with the seller, not should he accept any fees from another party without the seller’s consent.
- A Realtor should refuse any fees from more than one party without all parties consent.
- A Realtor should not co-mingle client funds with the agent’s own funds.
- A Realtor should make sure that all documents in the real estate transaction are easy to read, understand and everyone who is signing, understands the verbiage and content of the document.
- A Realtor should not discriminate ever for any reason based on race, color, religion, sex, family status, sexual orientation, handicap, gender identity or nationality.
- A Realtor should be competent and conform to standards of real estate practice and not offer and refuse to provide services they are not qualified to provide.
- A Realtor should be truthful in advertising and marketing.
- A Realtor should not practice law unless they are a lawyer.
- A Realtor should cooperate in case charges are brought against them in relation to the real estate transaction and should present all evidence requested
- A Realtor should not speak badly of competition and agree not to file unfound ethics complaints.
- A Realtor should not solicit another Realtor’s clients
- A Realtor should submit to arbitration to settle matters and not to seek legal remedies in the judicial system.
David Salmanson is a great realtor in San Fernando Valley and you can contact him to help you with any of your real estate needs, such as buying a house, selling a house, market analysis, real estate advice. Call David at 818-421-2170, or visit him on facebook
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