REALTOR CODE OF ETHICS

Article Four

 

Realtors shall not acquire an interest in or buy or present offer from themselves, any member of their immediate families, their firms or members thereof, or any entities in which they have any ownership interest, any real property without making their true position know to the owner or the owner’s agent or broker.

 

In selling property they own, or in which they have any interest Realtors shall reveal their ownership or interest in writing to the purchaser or the purchaser’s representative.

 

Article Five

 

Realtors shall not undertake to provide professional services concerning a property or its value where they have a present or contemplated interest unless such interest is specifically disclosed to all affected parties.

 

Article Six

 

Realtors shall not accept any commission, rebate, or profit on expenditures made for their client, without the client’s knowledge and consent.

 

When recommending real estate products or services Realtors shall disclose to the client or customer to whom  the recommendation is made any financial benefits or fees, other than real estate referral fees, the Realtor or Realtor’s firm may receive as a direct result of such recommendation.

 

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REALTOR CODE of ETHICS: Article III-

The Realtor Code of Ethics

established in  1915, consists

of fifteen ‘articles’ outlining the

responsibilities of its Realtor

members in their practice of real

estate.

 

The third article state,  when representing

a buyer, seller, or other clients as an agent,

Realtors pledge themselves to protect

and promote the interests of their client.

This obligation to the client is primary, but

it does not relieve Realtors of their

obligation to treat all parties honestly.  

 

When serving a buyer, seller, landlord, tenant or

party in a non-agency capacity, the Realtor

remains obligated by the duties imposed by

the Realtor Code of Ethics. These duties encompass

all real estate related activities and

transactions whether conducted in person,

electronically, or through any other means.

 

The duties of the Code of Ethics apply

whether the Realtor is acting as agent or

in a legally recognized non-agency capacity.

 

Realtors may represent the seller and the

buyer in the same transaction only after

full disclosure to and with informed

consent of both parties.

 – Jon Dawson

REALTOR CODE of ETHICS: Article II

The Realtor Code of Ethics

established in  1915, consists

of fifteen ‘articles’ outlining the

responsibilities of its Realtor

members in their practice of real

estate.

The second article states that

The Realtor shall avoid exaggeration,

or misrepresentation or concealment

of pertinent facts relating to the property

or the transaction.  Realtors shall not,

however, be obligated to discover latent

defects in the property, to advise on

matters outside the scope of their

real estate license, or to disclose facts

which are confidential under the scope

of agency or non-agency relationship

as defined by state law.

Among the standards in this article

are realtors shall only obligated to

discover and disclose adverse factors

reasonably apparent to someone with

expertise in those areas required by

their by their state’s real estate licensing

authority.

Article II does not impose upon the

Realtor the obligation of expertise

In other professional or technical

disciplines.

The duties in the Code  of  Ethics

apply whether the Realtor is acting

as an agent or in a legally non-agency

capacity.

– Jon

Realtor Code

The Realtor Code of Ethics established in 1915, consists of fifteen ‘articles’ outlining the responsibilities of its Realtor  members in their practice of real estate .

There are fifteen “articles” in the Code.  The first article outlines the Realtors duties to clients and customers. When representing a buyer, seller, landlord, tenant, or other client as an agent, Realtors® pledge themselves to protect and promote the interests of their client. This obligation to the client is primary, but it does not relieve Realtors® of their obligation to treat all parties honestly. When serving a buyer, seller, landlord, tenant or other party in a non-agency capacity.

As used in the Code of Ethics, ‘client’ means the person whom a Realtor has an agency relationship.  A ‘customer’ is a party to a real estate transaction who receives information, services, or benefits but has no contractual relationship with the Realtor.

Today’s home buyers and sellers gain the greatest benefit when they become ‘clients’ of the Realtor or Realtor firm. Sellers’ client relationship is outlined in a writing called a Listing Agreement.  Buyers typically engage their Realtor with a Buyer Representation Agreement.  In each instance the Realtor’s relationship is one called a fiduciary relationship where their Agent Realtor is looking out for their best financial interests.

– Jon