Updated: 03/29/2006
The NATIONAL ASSOCIATION
OF REALTORS® Code of Ethics:
What Does it Mean for Consumers?
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 NATIONAL ASSOCIATION OF REALTORS®'
Code of Ethics.
Copyright NATIONAL ASSOCIATION
OF REALTORS®
Headquarters: 430 North Michigan Avenue, Chicago,
IL. 60611-4087
DC Office: 500 New Jersey Avenue, NW, Washington,
DC 20001-2020
1-800-874-6500
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Will Lessard Realtor®
