Duties to Clients
Articles 1-9
Articles 1-9
Under Article 1, REALTORS® pledge to protect and promote their client's interests while still treating all parties in this manner.
What is Honesty?
Article 10 prohibits discrimination against protected classes, including race, color, religion, and these two more recent additions.
What are sexual orientation and gender identity?
Under Article 15, REALTORS® shall not knowingly or recklessly make these about other real estate professionals.
What are false or misleading statements?
The first Code of Ethics was adopted in this year.
What is 1913 (five years after NAR's formation)?
This committee at the local association acts like a "grand jury," reviewing complaints to see if a hearing is warranted.
What is the Grievance Committee?
Article 2 prohibits REALTORS® from doing these three things regarding pertinent facts about a property.
What are exaggeration, misrepresentation, or concealment?
This concept, often called the "Golden Rule," is the underlying philosophy of the entire Code of Ethics.
What is "Let the public be served"?
Article 16 states that REALTORS® shall not take any action inconsistent with these types of agreements held by other REALTORS®.
What are exclusive representation or exclusive brokerage relationship agreements?
REALTORS® are required to complete Ethics training of at least this much instructional time every three years.
What is 2 hours and 30 minutes?
This group of REALTORS® conducts the actual hearing and decides if a violation of the Code occurred.
What is the Professional Standards Committee?
This Article requires all real estate agreements to be in writing, in clear language, with copies provided to all parties.
What is Article 9?
Under Article 11, if a REALTOR® is asked to provide specialized services outside their field of competence, they must do this.
What is engage the assistance of one who is competent or fully disclose the facts to the client?
This is the point at which a REALTOR® must stop soliciting a seller who is already interviewing multiple agents.
What is when the seller signs a binding exclusive agreement with another REALTOR®?
This 5-step guide for "Professionalism" is a supplement to the Code, emphasizing respect for property and peers.
What is Pathways to Professionalism?
This is the maximum fine a local association can impose for a single violation of the Code of Ethics.
What is $15,000?
If a REALTOR® has a personal interest in a property (e.g., they or their family own it), this must be done before providing services.
What is disclose the interest in writing?
Article 12 requires REALTORS® to present this in all their advertising and marketing.
What is a "true picture"?
Article 17 requires REALTORS® to do this for contractual disputes and specific non-contractual disputes.
What is mediate and/or arbitrate?
The Preamble to the Code of Ethics begins with this famous and evocative five-word phrase regarding the importance of land.
What is "Under all is the land"?
While the Professional Standards Committee decides on Ethics violations, this process is used specifically to settle money or commission disputes between brokers.
What is Arbitration?
According to Article 6, REALTORS® cannot accept these from any party without the client's knowledge and consent.
What are commissions, rebates, or profits?
Article 13 forbids REALTORS® from engaging in this, which includes giving specific legal advice like filing for bankruptcy.
What is the unauthorized practice of law?
If a REALTOR® is found in violation of the Code at one Board, this can happen with their professional records.
What is they can be shared with another Board for progressive disciplinary purposes?
While the 17 Articles of the Code are permanent and can only be changed by the NAR Delegate Body, these "interpretations" of the Articles are updated frequently by the Professional Standards Committee to provide specific examples of behavior.
What are Standards of Practice?
Before a formal hearing, boards often offer this voluntary process where a neutral third party helps both REALTORS® reach a mutual agreement.
What is Mediation?