4 Things to Know About the National Association of REALTORS® Code of Ethics

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.

NAR: Recognizing September as Agent Safety Month

September is one busy month, but recognizing September as Agent Safety Month doesn’t need to get pushed off your action-packed calendar! Take a minute to look over these helpful safety tips and more.

Did you know?

The National Association of REALTORS® created the REALTOR® Safety Program more than 10 years ago. The program is designed to keep agent safety at the forefront of a Realtor’s daily planning.

By practicing precaution, the number of safety incidents happening in the industry can be reduced. That’s why recognizing September as Agent Safety Month continues to be a top priority in Lee County.

Safety tips for Realtors

The good news is Realtors have quick access to plenty of safety-oriented materials nowadays. The NAR alone offers personal protection resources, tips, videos, webinars and more—all about safety.

Here are several tips to help get you started when it comes to formulating a safety plan.

Tell people where you are going.

Tell people—colleagues, friends, family—where you are going, who you are meeting (including providing names and contact info) and when you expect to be finished. Consider creating a Google calendar that you share with those closest to you, for instance.

Set a safe schedule.

Set a schedule you are comfortable with. If that means no meetings after dark, so be it. Clearly communicate your available hours for in-person meetings and showings in your marketing materials and website.

Keep up with your car maintenance.

From regular oil changes to tire checks to keeping jumper cables in your car, be prepared. Also, try and keep your gas tank half-full in case you get lost or the property is more remote than expected.

Stay charged.

Make sure your phone is fully charged and you have a car charger with you too. Consider using a mobile hotspot to help with cell phone reception. Plus, a personal hotspot is good for data security in general.

Be wary of what you share. 

Guard your personal information along with your clients’. Be careful not to “overshare” personal information with new or potential clients as well.

Pick public spaces.

Meet new clients in your office or a public place like a coffee shop for initial meetings.

Be observant.

Follow behind your clients while showing them a property. Do not lead them. This helps you stay aware of what is happening at all times.

Use the 10-second rule.

Apply the 10-second rule. Give yourself time (at least 10 seconds) to assess a situation and your surroundings when you arrive.

Follow best practices for open houses.

Put “best practices” into place for open houses. Don’t host them alone if possible. Check all rooms, windows and doors before leaving and locking up. Be sure to check closets and the backyard too.

Know your way out.

Always have a backup plan and exit strategy in case something goes awry.

Summary

By recognizing September as Agent Safety Month, you recognize that it is actually a year-round task. Take this month to update your safety plan. Then talk about it with your colleagues and family. Finally, put it into place. Keep reading our blogs for more industry news and additional real estate resources.

10 Numbers to Know About The National Association of REALTORS®

From phone numbers to statistics to followers, numbers matter. Here are 10 numbers to know about the National Association of REALTORS® (NAR) that offer industry insights, highlights and more.

1,556,762 members

In this case, it’s one of the record-setting numbers to know about the National Association of REALTORS! Membership is currently at an all-time high for America’s largest trade association.

172 billion

The total number of people reached through NAR’s national and local earned media communications in 2020 was 172 billion. That’s a 36 percent increase from 2019!

40,500 followers

Sometimes being a follower is a good thing—like when it comes to following along with the other 40,500 people on board with the “REALTORS are Good Neighbors” Facebook page.

Did we mention that’s a 30,000-follower increase from last year?

3 billion

As in three billion impressions during NAR’s “That’s Who We R” national consumer advertising campaign in 2020!

1,608 pounds

That’s 1,608 pounds of food donated from REALTOR groups through the NAR’s partnership with the Food Recovery Network, which roughly translates into about 1,340 meals.

$800,000+

And the giving continues with more than $800,000 raised as part of the REALTORS Relief Foundation 20th Anniversary Commemorative Event, Hope Rising.

800,000

In this case, 800,000 refers to the number of members who cumulatively saved more than $75 million from one or more of the products offered through the REALTOR Benefits Program.

$93,800

Every time a house is sold, approximately $93,000 becomes money-in-motion circulating back into the economy.

In fact, the real estate industry accounted for $3.83 trillion in economic activity in 2020, which makes it about 18.3 percent of the U.S.’s total Gross Domestic Product.

235,000 REALTORS

To clarify, there are 235,000 REALTORS with some sort of NAR credentials. Those designations and certifications include everything from Accredited Buyer’s Representative to At Home with Diversity certification.

1-800-874-6500

Finally, out of all the numbers to know about the National Association of REALTORS, this one may be the handiest! For any membership questions or inquiries, you can always call one of their information specialists to help.

Summary

Before we wrap this up, there is one more number we’d like to share: (334) 321-0606. If you are considering becoming a Lee County REALTOR, give us a call to find out more! Or, if you need help locating a REALTOR, we can help with that too. Keep reading our blogs for more real estate industry news and trends!