RealtorĀ® Code of Ethics - Exaggeration and Misrepresentation are Not Allowed (re-blog)

Reblogger Toula Rosebrock
Real Estate Agent with Diane Turton, Realtors, Forked River, NJ

My friend, Claudette Millette of Ashland, MA wrote this amazing post on Ethics.

Re-blog is in order on this one!

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ToulaRosebrock,com

Toula N. Rosebrock (of Diane Turton, Realtors) - Broker / Sales Associate - Specializing in all of Ocean County - Lacey Township Real Estate, Forked River / Lanoka Harbor

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Websites: www.Toula.org     www.ToulaRosebrock.com   

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Original content by Claudette Millette

Gavel with bookAs a home buyer or seller you should know that all Realtors® are bound by a strict Code of Ethics that was designed to protect you as a consumer.  In your dealings with any Realtor®, you should feel confident that you are being dealt with fairly and honestly. Every agent must make a commitment to adhere to a set of rules which are guidelines for dealing with the public as well as with each other. 

The Code of Ethics contains 17 Articles and is quite in-depth.  As a primer for these tenets, here are some basic guidelines: 

Article 1 states that when "representing a buyer, seller, landlord, tenant, or other client as an agent, Realtors® pledge themselves to protect and promote the interests of their client." 

The agent's first and foremost obligation is to their contractual client; however, this does not relieve their responsibility to treat all parties fairly. 

Article 2 - "Realtors® shall avoid exaggeration, misrepresentation, or concealment of pertinent facts relating the property or to a transaction." 

Article 3 covers the fact that "Realtors® must cooperate with other brokers with the exception of cases in which it may not be in the client's best interest." 

This rule does not make it mandatory that they compensate other brokers but cooperation involves allowing other agents to show properties that are on the market and show basic cooperation with other real estate agents. 

Article 12 states that "Realtors® shall be honest and truthful in their real estate communications and shall present a true picture of themselves in their advertising, marketing, and other representations."  

Smart consumers realize that exaggeration and unrealistic claims should be looked upon with a discerning eye. 

Article 15 spells out that "Realtors® shall refrain from making false or misleading statements about competitors, competitors' businesses and competitors' business practices." 

In today's world of electronic media, it is also the duty of such an agent to publish a clarification or remove any such statements made at once.  

In 2013, the NAR Code of Ethics will turn 100 but the relevancy of the issues that it covers has remained constant throughout the years.  With periodic updates, the code is there to assure you, the consumer, that when you are working with a professional Realtor® you can rest assured that there are important guidelines that are being followed to be make certain that agents are acting in your best interest and in the best interest of the industry as a whole. 

Copyright 2009 - Claudette Millette, Broker, Owner, The Buyers' Counsel - (508) 881-6230

Your Buyer Broker for Massachusetts Since 1992 

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Rainmaker
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Mara Hawks
First Realty Auburn - Auburn, AL
Inactive-2012 REALTOR - Homes for Sale Auburn Real Estate, AL

Nice to re-post this, Toula. The Code of Ethics is the mirror we need to stand in front of daily...All of our actions need to reflect these excellent standards.

Jan 16, 2010 03:32 PM #1
Rainmaker
2,770,618
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

Toula, It IS a wonderful re-blog.  I actually didn't know what the Code of Ethics exactly were for Realtors.  I've met some of the best over the years both in AR and in NY!

Jan 16, 2010 03:37 PM #2
Rainmaker
716,608
Ruthmarie Hicks
Keller Williams NY Realty - 120 Bloomingdale Road #101, White Plains NY 10605 - White Plains, NY

Great blog - but it is sad that the COE has lost its meaning since most REALTORS feet are not held to the fire on this issue.  A COE is only as good as its enforcement.

Jan 16, 2010 03:55 PM #3
Rainmaker
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Elite Home Sales Team
Elite Home Sales Team OC - Corona del Mar, CA
A Tenacious and Skilled Real Estate Team

Yes we must keep the code and keep our standards high or the public will think poorly of us.

Jan 16, 2010 04:20 PM #4
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Rainmaker
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Toula Rosebrock

Broker/Sales Associate, Realtor, Lacey Township,
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