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4 Comments on Code of Ethics
We need more REALTORS® to stand up and say the same.
I love working with "professional" Realtors who abide by the code of ethics. It's really disheartening to see Realtors out there who don't. But you can say the same in the mortgage industry too.
Did you know: that mortgage brokers who are a "member" of the National Association of Mortgage Brokers (NAMB) also have to abide by a "code of ethics" and "professional standards and lending practices?" Each state association should have their own independent set of standards also. Just a "FYI" for you.
We need "more" professional individuals in the "entire" industry! :)
I enjoyed reading your article on ethics. It was very interesting.
Don Bradbury
Cawney, it's good to hear about realtors wanting to live up to the COE. I would like to mention one area where some honest realtors may be violating that code and not even realizing it.
Some Real Estate offices have begun to implement what they can "preferred vendor" or "Associates" programs. On the surface this does not sound like a bad thing but when it comes to Home Inspectors it goes against your code of ethics.
As a Home Inspector, I have to abide by a code of ethics also. I am a member of the National Association of Certified Home Inspectors and their code of ethics can be found here: http://www.nachi.org/code_of_ethics.htm
The code of ethics was designed to protect the home buyer, our customer, and it prohibits any activity that creates a conflict of interest. One of the practices that is expressly prohibited is paying to join these "preferred vendor" programs.
I recently stopped by a Real Estate office to make sure they still had some of my brochures and was told that they only permitted brochures and business cards from vendors that joined their program and paid for advertising in the magazine they put out to their realtors. When they showed me the magazine, it only had one home inspector listed. That means that all the realtors who work there had a total of one inspector to choose from when a client asked them to suggest someone to contact about getting a home inspection. The choice was based on the fact that that inspector had paid to get on that list, not on his qualifications or experience.
Your code of ethics states that you will work in the best interest of your client. I submit that the best interests of the client are not served in this case. Also consider that the only inspector they are recommending is one that has demonstrated that he will throw out his code of ethics to get a referral. I wonder, what else will he do to keep getting inspections? Is that in the best interest of the client? I do not think so.
I will give up a few inspections if it means that I too can live by the code of ethics.
I hope you do not mind me presenting this on your blog, but I think it is something that you honest realtors should be aware of.
Robert Sole
www.REMinspections.com