Changes to the Code of Ethics January 1, 2011

It is possible to be a Real Estate Agent or Broker without belonging to the National Association of Realtors® (NAR).  The industry wide Code of Ethics is a document that applies to agents, associate brokers and brokers who DO belong to the National Association of Realtors®.  This does not mean that licensed agents or brokers who do not belong to NAR are unethical it just means that there is no document and standardized code of ethics that they follow.

The Code of Ethics is a document that is constantly changing and being updated and a new version is released at the beginning of each year.  I believe in the Code of Ethics and I follow it.  The public is not bound by the Code of the Ethics but if you hire a Realtor as your listing agent or as your buyer's agent this document applies.

Effective on January 1, 2011 these are the Standards of Practice that were added:

The first is an attempt to keep up with the very fast growing world of the internet.  The Standards of Practice require clear and accurate information for any licensee on their websites and blogs.  It requires that consumers reading those blogs and websites are informed as to the status of the writer of that website or blog.  It also requires that the public knows where that broker/agent works and how to reach their office.  It also deals with Twitter where that disclosure would take up all 140 words you are allowed.  In Louisiana you are not required to disclose whether you are an agent, associate broker or broker in your disclaimer.

Next is a much publicized change in the Fair Housing Standard to include sexual orientation.  This speaks for itself and all I can say is it is about time.

Next comes the Ethical obligation to cooperate with others agents when it is in the sellers best interests.  This also means that when it is not in the sellers best interests be careful not to share.

Next is the obligation to disclose who you are and whether or not you are a Realtor® and the reason you are asking.  Calls asking for information on a listed property can not just be curiosity.  Realtors® are required to be forthcoming as to the reason for the call.

While this is a Code of Ethics it is also a Standard of Practice, what is okay and allowed and what is not.  It would seem to some that ethics should be clear without a document of this sort however some of these Standards have evolved over time and have been tweeked as Ethics complaints have been heard.