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USEFUL HOTLINE INFORMATION

Have questions on the Foreclosure & Carbon Monoxide Acts?

REALTORS® CAR LEGAL HOTLINE

CLICK HERE FOR MORE INFORMATION!!

HB1091 CARBON MONOXIDE ACT CLICK HERE

or

GENERAL INFO ON CARBON MONOXIDE ACT CLICK HERE

MONTHLY ETHICS ARTICLE by STEVE STAZEL    Click Here to view the current article!

Other recent Ethics articles:  JUNE 2009/  MAY 2009/  APRIL 2009 /  MARCH 2009 /  FEBRUARY 2009 / JANUARY 2009

Code of Ethics

Not all real estate licensees are REALTORS®. Only members of the NATIONAL ASSOCIATION OF REALTORS® subscribe to NAR's strict Code of Ethics in their dealings with clients and customers, the public, and with each other.

What does this mean to you as a buyer or seller? It means that the REALTOR you choose to work with has taken the voluntary step of agreeing to abide by a code of ethics developed with public protection in mind.

In addition, your REALTOR® is subject to disciplinary action should a local association of REALTORS find him or her in violation of the Code of Ethics.

The NATIONAL ASSOCIATION OF REALTORS® adopted its Code of Ethics in 1913, and was only the second trade or business group in the United States to adopt mandatory ethical standards.

The Code of Ethics is a comprehensive document spelling out the professional responsibilities REALTORS are governed by. Ask your REALTOR for a copy of the Code—it is your assurance that you, as a consumer, are dealing with a professional having your best interests in mind.

The Code of Ethics of NAR consists of 17 Articles. The basic principles are summarized as follows:

Duties to Clients and Customers

REALTORS® must:
• protect and promote their client's interests while being honest with all parties. They do not reveal confidential information.
• avoid exaggeration, misrepresentation or concealment of pertinent facts.
• cooperate with other real estate professionals to advance their client's best interests.
• when buying or selling, make their position or interest known.
• disclose any present or contemplated interest in any transaction to all parties.
• avoid "side deals" without their client's informed consent.
• accept compensation from only one party, except with full disclosure and informed consent of their client.
• keep funds of clients and customers in an escrow account.
• ensure that transactional details are in writing.

Duties to the Public

REALTORS® must:
• provide equal service to all clients and customers.
• be knowledgeable and competent in the fields of practice in which they ordinarily engage.
• obtain assistance from a knowledgeable professional or disclose any lack of expertise to their client.
• present a true picture in advertising and other public representations.
• avoid the unauthorized practice of law.
• be a willing participant in ethics enforcement procedures.

Duties to REALTORS®

REALTORS® must:
• ensure their comments about other real estate professionals are truthful and not misleading.
• respect the exclusive relationships of other REALTORS®.
• arbitrate contractual disagreements with other REALTORS® and with their clients.