Mar 18 2008
Basic Principles of the REALTOR Code of Ethics
The following list is a great review and reminder of the basic principles of the REALTOR Code of Ethics.
To review or download the 2008 version of the Code of Ethics:
- Protect and promote your client’s interests, but be honest with all parties.
- Avoid exaggeration, misrepresentation, and concealment of pertinent facts. Do not reveal facts that are confidential under the scope of your agency relationship.
- Cooperate with other real estate professionals to advance your client’s best interests.
- When buying or selling, make your position in the transaction or interest known.
- Disclose present or contemplated interest in any property to all parties.
- Avoid side deals without your client’s informed consent.
- Accept compensation from only one party, except with full disclosure and informed consent.
- Keep the funds of clients and customers in escrow.
- Assure, whenever possible, that transactional details are in writing.
- Provide equal service to all clients and customers.
- Be knowledgeable and competent in the fields of practice in which you ordinarily engage. Obtain assistance or disclose lack of experience if necessary.
- Present a true picture in your advertising and other public representations.
- Do not engage in the unauthorized practice of law.
- Be a willing participant in Code enforcement procedures.
- Ensure that your comments about other real estate professionals are truthful, and not misleading.
- Respect the agency relationships and other exclusive relationships recognized by law that other REALTORS have with their clients.
- Arbitrate contractual and specific non-contractual disputes with other REALTORS and with your clients.
