Admin

Is the Realtor Code of Ethics REALLY strict - as advertised?

By
Real Estate Broker/Owner 8639604
The Articles below came from this page at Realtor.org Is it really strict?
Keep your eye on the terms "Client" and "Customer".

 

Duties to Clients and Customers


Article 1
REALTORS® protect and promote their clients’ interests while treating all parties honestly.

Article 2
REALTORS® refrain from exaggeration, mis-representation, or concealment of pertinent facts related to property or transactions.

 

Article 3

REALTORS® cooperate with other real estate professionals to advance their clients’ best interests.

Article 4
When buying or selling on their own account or for their families or firms, REALTORS® make their true position or interest known.
Article 5
REALTORS® do not provide professional services where they have any present or contemplated interest in property without disclosing that interest to all affected parties.

Article 6
REALTORS® disclose any fee or financial benefit they may receive from recommend-ing related real estate products or services.

Article 7
REALTORS® receive compensation from only one party, except where they make full disclosure and receive informed consent from their client.

Article 8
REALTORS® keep entrusted funds of clients and customers in a separate escrow account.

Article 9
REALTORS® make sure that contract details are spelled out in writing and that parties receive copies.


 

Article 1 looks good. They SHOULD promote their CLIENT's interest but be 'honest' with CUSTOMERS.



Article 2.

Humm, if you are a buyer CUSTOMER of a Realtor instead of a buyer CLIENT you can be sure they will (and quite properly) conceal the seller's motivation to sell even though you may feel that is a pertinent fact.

Article 3 seems straightforward



 

 

Article 4. Sounds good to me.

 


Article 5. That is as it should be. 

 


Article 6. That is as it should be. Some Realtors receive an "incentive" (money) when they recommend a home inspection company, for example,

Article 7

This is good. You wouldn't want to pay your agent if they already were getting their full fee from someone else. 

Article 8. This is good. It is also the law.


Article 9. This is good too. don't sign things you don't get copies of and don't take someones 'word'.

   

Lets take a look at the heading and the first 2 articles:
Define: Customer=
Define: Client=

As a consumer, do you want to be a client - or a customer of "YOUR" Realtor?

Did you notice that even though the heading is "Duties to Clients and Customers" not one article mentions customers?

In fact, the ONLY duty Realtors owe 'CUSTOMERS" is honesty. They owe that and much more to "CLIENTS".

  • Do you know what the additional duties that Realtors owe their clients are?
  •  Would you rather be a client or a customer of a Realtor ?

 At one time (maybe there still is) there was a booklet for Realtors titled: "Who is my Client?"

Do you know if "your" Realtor considers you a client or a customer? 

=================================
If you are in the market for a home in the Cherry Hill, NJ area, make sure you hire an agent who will work for you on your side of the transaction. Paul Howard is the only Exclusive Buyer Agent having an office in South Jersey. Paul, owner of NJHomeBuyer.com Realty in Cherry Hill, is a member of the highly selective National Association of Exclusive Buyer Agents, representing buyers ONLY, 100% of the time.

If you are thinking about buying a home in the Cherry Hill, New Jersey area in the near future, call Paul at (856) 488-8444 or send an email for free information.

NAEBA puts the E in EBA.

 

Posted by

 

Paul Howard, Broker

NJHomeBuyer.com Realty

80 Barclay Center Suite 4A

Cherry Hill NJ 08034

856-488-8444

Comments(2)

Show All Comments Sort:
Find a Notary Public needAnotary
QEC Internet Services - Long Beach, CA

Any code of ethics is a guide to values.  Irrespective of codes of ethics someone will try to one-up another to get an advantage. We value the dollar more in this culture than our self respect.

Jun 17, 2008 08:12 AM
Paul Howard
Cherry Hill, NJ
Paul Howard Realty, 856-488-8444

NAR advertises that Realtors adhere to a 'strict code of ethics'.  I'm not so sure very many Realtors do adhere and even when they do much of the COE involves dealings between Realtors and those dealings are not always to the benefit of a client.

Jun 17, 2008 08:38 AM