Ethics in Real Estate

Not all real estate licensees are realtors. Jan Leaf, Coldwell Banker Schneidmiller Realty, is a Realtor®, and an Associate Broker.

Protecting the interests of consumers demands high standards of professional conduct and training, and the Code of Ethics is the golden thread that binds the Realtor® community together.

All Realtors® must take comprehensive training on the Code of Ethics, which has been amended 37 times and is considered a living document that protects sellers, buyers, landlords, tenants and others who place their trust in Realtors®.

1: REALTORS® protect and promote their clients’ interests while treating all parties honestly.

2: REALTORS® refrain from exaggeration, misrepresentation, or concealment of pertinent facts related to property or transactions.

3: REALTORS® cooperate with other real estate professionals to advance their clients’ best interests.

4: When buying or selling on their own account or for their families or firms, REALTORS® make their true position or interest known.

5: REALTORS® do not provide professional services where they have any present or contemplated interest in property without disclosing that interest to all affected parties.

6: REALTORS® disclose any fee or financial benefit they may receive from recommending related real estate produces or services.

7: REALTORS® receive compensation from only one party, except where they make full disclosure and receive informed consent from their client.

8: REALTORS® keep entrusted funds or clients and customer in a separate escrow account.

9: REALTORS® make sure that contract details are spelled out in writing and that parties receive copies.

10: REALTORS® give equal professional services to all clients and customers irrespective of race, color, religion, sex, handicap, familial status or national origin.

11: REALTORS® are knowledgeable and competent in the fields of practice in which they engage or they get assistance from a knowledgeable professional, or disclose any lack of expertise to their clients.

12: REALTORS® paint a true picture in their advertising and in other public representations.

13: REALTORS® do not engage in the unauthorized practice of law.

14: REALTORS® willingly participate in ethics investigations and enforcement actions.

15: REALTORS® make only truthful, objective comments about other real estate professionals.

16: Respect the exclusive representation or exclusive brokerage relationship agreements that other REALTORS® have with their clients.

17: REALTORS® arbitrate financial disagreements with other Realtors and with clients.

Not all real estate licensees are Realtors®. There are currently more than 1.84 million active licensed real estate professionals in the U.S.; 1 million are members of NAR and can call themselves Realtors®. NAR membership separates Realtors® from real estate agents who do not subscribe to a code of ethics or have access to the educational, business and market information advantages of their Realtor® counterparts.

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