Looking for a house, not to mention a Realtor, can be overwhelming. However, these four things to know about the National Association of REALTORS® Code of Ethics will help you see the benefits of working with one from the beginning!
But before we delve into the main things to know about the National Association of REALTORS® Code of Ethics, let’s first review what it is and why it was created.
What is the Code of Ethics, and why was it created?
In a nutshell, the NAR’s Code of Ethics is a self-improving guide for all real estate professionals. It was created to guarantee clients are served fairly by requiring Realtors to work together in promoting the clients’ best interests at all times.
Required continuing education courses ensure that Realtors stay up-to-date on the Code and any changes it undergoes year to year.
It was established over 100 years ago.
Did you know the NAR’s Code of Ethics was adopted in 1913? According to the NAR website, it was “one of the first codifications of ethical duties adopted by any business group.”
It embodies the Golden Rule.
Simply put, “Do unto others as you would have them do unto you.” Realtors apply this guiding principle to all their activities, from personal to professional.
There are three main sections.
There are three main sections outlined in the Realtors’ Code of Ethics.
Duties to Clients and Customers
When it comes to things to know about the National Association of REALTORS® Code of Ethics, know that the client is always the number one priority. But Realtors remain obligated to treat all parties honestly, even while promoting and protecting their clients’ best interests.
Duties to the Public
This section includes everything from equal professional services for all to truthfulness in all communications—from emails to advertising.
Duties to Realtors
Once again, the Golden Rule is a guiding principle in this case. Under the Code of Ethics, Realtors promise to be fair, honest and supportive of other real estate professionals.
It gives you—the client—peace of mind.
Knowing your Realtor has taken an oath to protect and promote your best interests in all transactions is comforting. Understanding your Realtor is obligated to disclose pertinent facts about the property is comforting.
Realizing your Realtor works diligently to promote a healthy, competitive marketplace is comforting. And, last but not least, knowing your Realtor is committed to staying current on issues affecting real estate gives you peace of mind.
Summary
Now that you have a better understanding of why “Realtor” has come to mean “competency, fairness and high integrity,” are you ready to connect with a local expert? We can help! Search for Lee County Realtors here. For more industry news and tips, keep reading our blogs.