The Code of Ethics
How does the Code of Ethics
affect everyday real estate practices?
If a REALTOR®
represents you, whether you are buying or
selling a home, you can count on that REALTOR®
to:
1. Be honest with
all parties in the transaction – not just with
you, as his or her client, but also with the
other real estate practitioner and his or her
clients.
For example, if REALTORS®
represent a buyer with a spotty credit history,
they can’t be dishonest with sellers about this
fact. At the same time, REALTORS®
can help their buyer clients collect and
assemble information, such as credit reports and
audited tax returns, to demonstrate that the
buyer has addressed the problem and improved
their situation.
2. Put your
interests ahead of his or her own, at all times.
A REALTOR® makes
every effort to understand the housing needs of
his or her client, thoroughly researches
available inventory, and shares all relevant
information with the buyer so that he or she can
make an informed decision. This service is
provided regardless of the compensation
available.
3. Disclose all
pertinent facts regarding the property and the
transaction to both buyer and seller.
If a REALTOR®
believes information provided by a seller is
questionable, the REALTOR®
is obligated to investigate. REALTORS®
should recommend that buyers consult their own
experts, such as home inspectors, to address
concerns. For example, if a home seller asks his
or her REALTOR® to
conceal the fact that the roof leaks, the
REALTOR® cannot
comply; if the seller insists, the REALTOR®
should end the business relationship with that
seller.
4. Be truthful in
all communications with the public.
When REALTORS®
distribute newsletters, create Web sites, or
place advertisements, they must be careful not
to represent other real estate professionals’
work product as their own. If recently sold or
listed properties in the community are
publicized, it must be clear whether the REALTOR®
was actually involved in the transaction, or
whether that data came from the local multiple
listing service or other source. This ensures
that the public understands the REALTOR®’s
experience and can make an informed decision
when choosing real estate representation.
Read a summary of the principles embodied in the
REALTOR® Code of Ethics
Download the Code of Ethics
Ethics Complaint Form
Guide to Filing an Ethics Complaint
