Our Code of Ethics goes hand in hand with Buyer and Seller Advocacy. By creating a fiduciary relationship with consumers we can share intimate detail and strategise for a successful sale ! Thanks to Lauren for putting this post together !
If you are looking to buy a home you may be wondering what a Realtor can do for you. Well, besides helping you find a home that fits your needs, there is a Code of Ethics that we must follow. Here is a great summary from the National Association of Realtors. This list tells you how you will be affected by our Code of Ethics.
The NATIONAL ASSOCIATION OF REALTORS® Code of Ethics:
What Does it Mean for Consumers?
How does the Code of Ethics affect everyday real estate practices?
If a REALTOR® represents you, whether you are buying or selling a home, you can count on that REALTOR® to:
1. Be honest with all parties in the transaction – not just with you, as his or her client, but also with the other real estate practitioner and his or her clients.
For example, if REALTORS® represent a buyer with a spotty credit history, they can’t be dishonest with sellers about this fact.
2. Put your interests ahead of his or her own, at all times.
A REALTOR® makes every effort to understand the housing needs of his or her client, thoroughly researches available inventory, and shares all relevant information with the buyer so that he or she can make an informed decision.
3. Disclose all pertinent facts regarding the property and the transaction to both buyer and seller.
If a REALTOR® believes information provided by a seller is questionable, the REALTOR® is obligated to investigate. REALTORS® should recommend that buyers consult their own experts, such as home inspectors, to address concerns. For example, if a home seller asks his or her REALTOR® to conceal the fact that the roof leaks, the REALTOR® cannot comply; if the seller insists, the REALTOR® should end the business relationship with that seller.
4. Be truthful in all communications with the public.
When REALTORS® distribute newsletters, create Web sites, or place advertisements, they must be careful not to represent other real estate professionals’ work product as their own.