The Realtor and the Code of Ethics

The decision to buy or sell a home involves more than just putting a "FOR SALE" sign out in the front yard or telling a SELLER you want to buy their property. It involves factors like determining the price, settling on a closing date, negotiating any repairs, verifying suitable financing, obtaining property information, etc. Because the process is tedious, most consumers seek the assistance of either a licensed real estate agent or a REALTOR® to walk them through it. Both are qualified in terms of licensure to perform the same job, however, only one is bound to a strict Code of Ethics.

A REALTOR® is a trusted professional that is a member of the National Association of REALTORS® (NAR). When becoming a member of NAR, a REALTOR® must adhere to and take an orientation course of the Code of Ethics. Also, a refresher course reviewing the Code of Ethics must be taken every 4 years to maintain REALTOR® status. According to NAR, of all the 2.6 million licensed real estate agents in the U.S.A., only 50% are designated as REALTORS®

One can argue that a REALTOR® is just the "designer" form of the industry professional and that the "generic" real estate agent could do the same job equally well. However, the fact that a REALTOR® must consciously perform under a prescribed standard - the Code of Ethics - forces them to function at a higher level. This allows a REALTOR's® client to receive service that shines a notch above the average agent.

17 articles comprise the Code of Ethics that REALTORs® abide by. The articles address pledges of conduct regarding a wide spectrum of issues. Although not all-inclusive, a snapshot of these pledges are as follows:

- REALTORs® must continually promote the interests of their clients
- REALTORs® must maintain honest disclosure of facts to all parties involved
- REALTORs® must refrain from exaggeration of facts in their marketing efforts
- REALTORs® must offer equal treatment of clients regardless of race, handicap, familial status, sex, color, religion, etc.
- REALTORs® must seek outside professional consultation as needed
- REALTORs® must disclose any interest in any client's property
- REALTORs® must respect client relationships of other REALTORs®

With the power of association, NAR also provides its REALTORs® continuing education and current industry developments not readily available to the average agent. The more educated your real estate professional is, the more prepared they will be when it is time to serve you.

Looking for a better experience on your next real estate transaction? Choose a REALTOR® to help you through the process.