You’ve probably seen the advertising, “Make Sure Your Agent Is a Realtor.” That’s because not all licensed real estate agents are members of the National Association of Realtors (NAR) and only members of NAR can call themselves “Realtors.” And only Realtors must swear obedience to the Realtor Code of Ethics and are required to take 4-hour biennial refresher classes about the Code. (Note: All Golden Real Estate agents are Realtors.) The Realtor Code of Ethics has 17 articles that are divided into three categories. They are as follows.
DUTIES TO CLIENTS AND CUSTOMERS:
Realtors protect and promote their clients’ interests while treating all parties honestly.
Realtors refrain from exaggeration, misrepresentation, or concealment of pertinent facts related to property or transactions.
Realtors cooperate with other real estate professionals to advance their clients’ best interests.
When buying or selling on their own account or for their families or firms, Realtors make their true position or interest known.
Realtors do not provide professional services where they have any present or contemplated interest in property without disclosing that interest to all affected parties.
Realtors disclose any fee or financial benefit they may receive from recommending related real estate products or services.
Realtors accept compensation from only one party, except where they make full disclosure to all parties and receive informed consent from their client.
Realtors keep the funds of clients and customers in a separate escrow account.
Realtors make sure that details of agreements are spelled out in writing whenever possible and that parties receive copies.
DUTIES TO THE PUBLIC:
Realtors 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.
Realtors 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.
Realtors are honest and truthful in their communications and present a true picture in their advertising, marketing, and in other public representations.
Realtors do not engage in the unauthorized practice of law.
Realtors willingly participate in ethics investigations and enforcement actions.
DUTIES TO REALTORS:
Realtors make only truthful, not misleading, comments about other real estate professionals.
Realtors respect the exclusive representation or exclusive brokerage relationship agreements that other Realtors have with their clients.
Realtors arbitrate and mediate financial disagreements with other Realtors and with their clients.