REALTORS® protect and promote their clients’ interests while treating all parties honestly.
REALTORS® refrain from exaggeration, misrepresentation or concealment of pertinent facts related to property or transactions.
REALTORS® cooperate with other real estate professionals to advance their clients’ best interests.
When buying or selling on their own account or for their families or firms, REALTORS® make their true position or interest known.
REALTORS® do not provide professional services where they have any present or contemplated interest in property without disclosing that interest to all affected parties.
REALTORS® disclose any fee or financial benefit they may receive from recommending related real estate products or services.
REALTORS® receive compensation from only one party, except where they make full disclosure and receive informed consent from their client.
REALTORS® keep entrusted funds of clients and customers in a separate escrow account.
REALTORS® make sure that contract details are spelled out in writing and that parties receive copies.
Responsibilities to the Public
REALTORS® give equal professional service to all clients and customers irrespective of race, color, religion, sex, handicap, familial status, or national origin.
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 client.
REALTORS® paint a true picture in their advertising and in other public representations.
REALTORS® do not engage in the unauthorized practice of law.
REALTORS® willingly participate in ethics investigations and enforcement actions.
Responsibilities to REALTORS®
REALTORS® make only truthful, objective comments about other real estate professionals.
REALTORS® respect the exclusive, professional relationships that other REALTORS® have with their clients.
REALTORS® arbitrate financial disagreements with other REALTORS® and with their clients.
Code of Ethics Q&A
Frequently Asked Questions before filing a Complaint:
Q: Where do the rules for the Arbitration, Mediation and Ethics complaint process come from?
A: All Professional Standards rules and procedures are set forth in the National Association of REALTORS® Code of Ethics and Arbitration Manual (CEAM).
Q: In order for me to arbitrate does the transaction have to be closed?
A: Yes. For a matter to be arbitrable the transaction must have closed.
Q: Do I have to be the managing broker in order to file an Arbitration Request or a request for Mediation?
A: For a matter to be considered a mandatory arbitration request, the managing broker must be the requesting party.
Q: Does an ethics complaint allow for damages?
A: There are no provisions for damages for an ethics complaint.
Q: If I arbitrate with another broker regarding a monetary dispute as it relates to co op commissions is the Arbitration Award binding?
A: Yes, pursuant to the CEAM (Section 56) the mediation agreement as well as the arbitration award can be judicially enforced in the event the non prevailing party fails to comply.
Q: If I have a dispute with a managing broker of a brokerage who is a member of another board can I still arbitrate or mediate?
A: Yes, you may file the request for arbitration or mediation at your primary board.
Q: If have a complaint about a REALTOR® from another board can I file an ethics complaint? If so, where do I file?
A: Yes, pursuant to the Multiboard Agreement in accordance with the CEAM you may file an ethics complaint at your primary board.