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The Code of Ethics consists of seventeen Articles and related Standards of Practice. The Code's basic principles care be summarized as follows: Duties to Clients and Customers: Article 1 REALTORS® protect and promote their clients' interests while treating all parties honestly. Article 2 REALTORS® refrain from exaggeration, misrepresentation or concealment of pertinent facts related to property or transactions. Article 3 REALTORS® cooperate with other real estate professionals to advance their client's best interests. Article 4 When buying or selling on their own account or for their families or firms, REALTORS® make their true position or interest known. Article 5 REALTORS® do not provide professional services where they have any present or contemplated interest in property without disclosing that interest to all affected parties. Article 6 REALTORS® disclose any fee or financial benefit they may receive from recommending related real estate products or services. Article 7 REALTORS® receive compensation from only one party, except where they make full disclosure and receive informed consent from their client. Article 8 REALTORS® keep entrusted funds of clients and customers in a separate escrow account. Article 9 REALTORS® make sure that contract details are spelled out in writing and that parties receive copies. Duties to the Public: Article 10 REALTORS® give equal professional service to all clients and customers irrespective of race, color, religion, sex, handicap, familial status, or national origin. REALTORS® also do not discriminate in their Real Estate employment practices concerning any of the areas listed above. Article 11 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. Article 12 REALTORS® paint a true picture in their advertising and in other public representations. Article 13 REALTORS® do not engage in the unauthorized practice of law. Article 14 REALTORS® willingly participate in professional standards proceedings and enforcement actions. Duties to REALTORS ®: Article 15 REALTORS® make only truthful, objective comments about other real estate professionals. Article 16 REALTORS® respect the exclusive agency and other exclusive relationships recognized by law that other REALTORS® have with their clients. Article 17 REALTORS® arbitrate financial disagreements with other REALTORS® and with their clients. Please remember that this is simply a general overview of the Code's key principles. For additional information on the Code of Ethics and its enforcement, contact your local association of REALTORS®. To view the entire Code of Ethics and Standards of Practice, please visit http://www.REALTOR.org |
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