{"id":34881,"date":"2024-08-06T02:10:45","date_gmt":"2024-08-06T06:10:45","guid":{"rendered":"https:\/\/www.houzeo.com\/blog\/?p=34881"},"modified":"2024-08-06T02:10:50","modified_gmt":"2024-08-06T06:10:50","slug":"nar-code-of-ethics","status":"publish","type":"post","link":"https:\/\/www.houzeo.com\/blog\/nar-code-of-ethics\/","title":{"rendered":"NAR\u2019s Code of Ethics (2024)- What Is It and Who Must Follow It?"},"content":{"rendered":"\n<figure class=\"wp-block-pullquote\"><blockquote><p><strong>\u270f\ufe0f<\/strong> <strong>Editor&#8217;s Note: <\/strong>Realtor Associations, agents, and MLS&#8217; have started implementing changes related to the NAR&#8217;s $418 million settlement. While home-sellers will likely save thousands in commission, compliance and litigation risks have significantly increased for sellers throughout the nation. <strong><a href=\"https:\/\/www.houzeo.com\/blog\/nar-settlement\/\" target=\"_blank\" rel=\"noreferrer noopener\">Learn how NAR&#8217;s settlement affects home sellers<\/a>.<\/strong><\/p><\/blockquote><\/figure>\n\n\n\n<p class=\"margin-top-28\">The <a href=\"https:\/\/www.houzeo.com\/blog\/what-is-real-estate\/\" target=\"_blank\" rel=\"noreferrer noopener\">real estate<\/a> industry has been rampant with unfair practices like proposing unjust property prices, no transaction transparency, etc. To tackle these issues, the <a href=\"https:\/\/www.nar.realtor\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">National Association of Realtors<\/a> (NAR) adopted the Code of Ethics in 1913.<\/p>\n\n\n\n<p>The Code serves as a vital framework to guide <a href=\"https:\/\/www.houzeo.com\/pros\" target=\"_blank\" rel=\"noreferrer noopener\">real estate professionals<\/a>. It ensures that the Realtors adhere to high standards of honesty, fairness, and professionalism. Additionally, this ensures consumer trust in the real estate industry remains intact.<\/p>\n\n\n\n<div class=\"block-takeaways\" style=\"margin-top:20px !important\"><p class=\"topHead\"><\/p><p class=\"headKeytake\"><b>Quick Facts About NAR Code of Ethics<\/b><\/p>\n<ul>\n<li>The National Association of REALTORS\u00ae represents a total of <a href=\"https:\/\/www.nar.realtor\/newsroom\/national-association-of-realtors-installs-2019-leadership\" target=\"_blank\" rel=\"noopener\">1.5 million REALTORS\u00ae<\/a>.<\/li>\n<li>In 2013, the Realtor\u00ae magazine called the NAR&#8217;s Code of Ethics a &#8216;<a href=\"https:\/\/www.nar.realtor\/about-nar\/policies\/professionalism-in-real-estate-practice\/the-code-of-ethics-of-the-national-association-of-realtorsr-an-assurance-of-public-service-and#:~:text=And%20thus%20the%20Code%20was,the%20public%20interest%20and%20welfare.\" target=\"_blank\" rel=\"noopener\">golden thread<\/a>&#8216;.<\/li>\n<li>In case of an ethics violation, Realtors are bound to pay a fine upto $15000, usually within <a href=\"https:\/\/www.texasrealestate.com\/wp-content\/uploads\/CitationPolicy.pdf\" target=\"_blank\" rel=\"noopener\">60 days<\/a> of its citation date.<\/li>\n<\/ul>\n<\/div>\n\n\n\n<h2 class=\"margin-top-28 wp-block-heading\" id=\"What-is-the-NAR's-Code-of-Ethics\"><strong><strong>What Is the NAR\u2019s Code of Ethics?<\/strong><\/strong><\/h2>\n\n\n\n<p>The NAR Code of Ethics is a set of <a href=\"https:\/\/cdn.nar.realtor\/sites\/default\/files\/documents\/2024-nar-coe-standards-of-practice-2023-12-21.pdf\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">17 articles<\/a> that outlines the responsibilities, guidelines, and principles for Realtors.  It is meant to regulate their conduct with consumers, public and other Realtors. This ensures that they work together to serve their clients&#8217; best interests.<\/p>\n\n\n\n<p>Real estate professionals who have earned the &#8220;Realtor\u00ae&#8221; designation from the NAR must adhere to the Realtor ethics code. The <a href=\"https:\/\/www.nar.realtor\/ae\/manage-your-association\/core-standards-for-state-and-local-associations\/core-standards-criteria\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">state and local organization<\/a> associated with NAR are also bound to follow it.<\/p>\n\n\n\n<h2 class=\"margin-top-28 wp-block-heading\" id=\"Importance-of-Ethics-in-Real-Estate\"><strong><strong>What Is the Importance of Ethics in Real Estate?<\/strong><\/strong><\/h2>\n\n\n\n<p>The Realtor Code of Ethics enhances the reputation of real estate professionals. It helps build trust, and foster long-term relationships between real estate agents and their clients. <\/p>\n\n\n\n<p>It ensures honest representation of property conditions and truthful marketing. This makes <a href=\"https:\/\/apnews.com\/article\/treasury-regulation-money-laundering-real-estate-housing-7eaeb28e46caa570f00f6e986e9707a4\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">real estate transactions transparent<\/a> and prevents legal issues like misrepresentation, fraud, and contractual disputes. As a result, this may attract more clients and foster repeat business.<\/p>\n\n\n\n<h2 class=\"margin-top-28 wp-block-heading\" id=\"who-does-it-protect\"><strong><strong><strong>Who Does the NAR&#8217;s Code of Ethics Protect?<\/strong><\/strong><\/strong><\/h2>\n\n\n\n<p>The Code of Ethics protects the interests of public, clients, and other <a href=\"https:\/\/www.nar.realtor\/about-nar#:~:text=Our%20membership%20is%20composed%20of,territory%20associations%20of%20REALTORS%C2%AE.\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">members of the NAR<\/a>. Moreover, it mandates that the Realtors act with honesty and integrity, and provide accurate information to their clients. They must also refrain from misrepresenting facts about a property.<\/p>\n\n\n\n<p>The Realtor Code of Ethics is meant to ensure that there is no dispute among the professionals. Consequently, these measures collectively uphold the reputation and reliability of the real estate profession.<\/p>\n\n\n\n<h3 class=\"margin-top-15 wp-block-heading\"><strong>How Does It Protect Clients?<\/strong><\/h3>\n\n\n\n<p>The real estate Code of Ethics protects clients and ensures that Realtors:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Safeguard their clients&#8217; confidential information.<\/li><li>Disclose all known facts about the property.<\/li><li>Conduct all transactions with honesty and fairness.<\/li><li>Do not discriminate against any individual on the basis of race, religion, sex, national origin, etc.<\/li><li>Ensure all the advertising and marketing materials they use are truthful and accurate.<\/li><\/ul>\n\n\n\n<h2 class=\"margin-top-28 wp-block-heading\" id=\"preamble\"><strong><strong>What Is the Realtor Code of Ethics Preamble?<\/strong><\/strong><\/h2>\n\n\n\n<p>The Preamble mandates that the Realtors understand that the nation&#8217;s land be used efficiently and effectively. It also ensures that there is the largest possible distribution of land ownership. Additionally, the code requires that Realtors advertising clearly identify their professional status and firm name.<\/p>\n\n\n\n<ol class=\"wp-block-list\"><li>Keep up with the latest <a href=\"https:\/\/www.cnbc.com\/real-estate\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">real estate news<\/a> and events.<\/li><li>Avoid practices that may affect the real estate industry&#8217;s reputation.<\/li><li>Give opinions uninfluenced by personal gain.<\/li><li>Adhere to the Golden Rule, \u201cWhatsoever ye would that others should do to you, do ye even so to them\u201d.<\/li><\/ol>\n\n\n\n<p>The NAR Preamble states that Realtors must treat others with the same consideration they wish to receive.<\/p>\n\n\n\n<h2 class=\"margin-top-28 wp-block-heading\" id=\"SECTIONS-OF-Code-of-Ethics\"><strong><strong>Sections of Realtor Code of Ethics<\/strong><\/strong><\/h2>\n\n\n\n<p>The Code of Ethics has three major sections. To conduct their businesses, the <a href=\"https:\/\/timesproperty.com\/news\/post\/what-is-a-realtor-blid2338\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Realtor<\/a> must abide by the terms mentioned below:<\/p>\n\n\n\n<h3 class=\"margin-top-15 wp-block-heading\"><strong>A) Duties to Clients and Customers<\/strong><\/h3>\n\n\n\n<h4 class=\"margin-top-15 wp-block-heading\" id=\"articles\"><strong>Article 1<\/strong><\/h4>\n\n\n\n<p>Prioritize and protect the best interests of their client. They remain obligated to treat all parties honestly.<\/p>\n\n\n\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-9d6595d7 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:100%\">\n<div id=\"footable_parent_35002\"\n         class=\" footable_parent ninja_table_wrapper loading_ninja_table wp_table_data_press_parent semantic_ui \">\n                <table data-ninja_table_instance=\"ninja_table_instance_0\" data-footable_id=\"35002\" data-filter-delay=\"1000\" aria-label=\"Article 1\"            id=\"footable_35002\"\n           data-unique_identifier=\"ninja_table_unique_id_610957915_35002\"\n           class=\" foo-table ninja_footable foo_table_35002 ninja_table_unique_id_610957915_35002 ui table  nt_type_legacy_table celled  footable-paging-right ninja_table_search_disabled ninja_table_pro\">\n                <colgroup>\n                            <col class=\"ninja_column_0 \">\n                            <col class=\"ninja_column_1 \">\n                    <\/colgroup>\n        <thead>\n<tr class=\"footable-header\">\n                                        <th scope=\"col\"  class=\"ninja_column_0 ninja_clmn_nm_sr_no \">Sr. No.<\/th><th scope=\"col\"  class=\"ninja_column_1 ninja_clmn_nm_standards_of_practice \">Standards Of Practice<\/th><\/tr>\n<\/thead>\n<tbody>\n\n        <tr data-row_id=\"549\" class=\"ninja_table_row_0 nt_row_id_549\">\n            <td>1<\/td><td>Whenever a Realtor is acting as a principal in the real estate transaction, then they must be obliged to the duties imposed by the Code of Ethics. <\/td>        <\/tr>\n            <tr data-row_id=\"550\" class=\"ninja_table_row_1 nt_row_id_550\">\n            <td>2<\/td><td>The real estate Code of Ethics imposes obligations on all real estate-related operations and transactions, whether they are performed in person, electronically, or in any other way.<\/td>        <\/tr>\n            <tr data-row_id=\"551\" class=\"ninja_table_row_2 nt_row_id_551\">\n            <td>3<\/td><td>In order to secure a listing, REALTORS\u00ae should not\u00a0intentionally mislead the owner about market value.<\/td>        <\/tr>\n            <tr data-row_id=\"552\" class=\"ninja_table_row_3 nt_row_id_552\">\n            <td>4<\/td><td>When applying to be a buyer\/tenant representative, REALTORS\u00ae must not mislead buyers or renters about potential savings or other benefits.<\/td>        <\/tr>\n            <tr data-row_id=\"553\" class=\"ninja_table_row_4 nt_row_id_553\">\n            <td>5<\/td><td>REALTORS\u00ae may represent both the seller\/landlord and the buyer\/tenant in the same transaction only if both parties have received full disclosure and given their informed consent.<\/td>        <\/tr>\n            <tr data-row_id=\"554\" class=\"ninja_table_row_5 nt_row_id_554\">\n            <td>6<\/td><td>REALTORS\u00ae shall submit offers and counter-offers objectively and as quickly as possible.<\/td>        <\/tr>\n            <tr data-row_id=\"555\" class=\"ninja_table_row_6 nt_row_id_555\">\n            <td>7<\/td><td>When working as listing brokers, REALTORS\u00ae must continue to submit all offers and counter-offers to the seller\/landlord until the sale or lease is completed.<\/td>        <\/tr>\n            <tr data-row_id=\"556\" class=\"ninja_table_row_7 nt_row_id_556\">\n            <td>8<\/td><td>REALTORS\u00ae operating as agents or brokers for buyers\/tenants must present all offers and counter-offers to buyers\/tenants until they are accepted.<\/td>        <\/tr>\n            <tr data-row_id=\"557\" class=\"ninja_table_row_8 nt_row_id_557\">\n            <td>9<\/td><td>REALTORS\u00ae have a legal obligation to maintain confidential information\u00a0provided by their clients during any agency relationship or non-agency relationship recognized by law. This obligation continues after the agency relationship or non-agency connection is terminated.<\/td>        <\/tr>\n            <tr data-row_id=\"558\" class=\"ninja_table_row_9 nt_row_id_558\">\n            <td>10<\/td><td>REALTORS\u00ae must adhere to the rules and conditions of their real estate licence as well as the terms and conditions of their property management agreement.<\/td>        <\/tr>\n            <tr data-row_id=\"559\" class=\"ninja_table_row_10 nt_row_id_559\">\n            <td>11<\/td><td>REALTORS\u00ae who are employed to maintain or manage a client\u2019s property shall exercise due diligence and make reasonable efforts to protect it against reasonably foreseeable contingencies and losses.<\/td>        <\/tr>\n            <tr data-row_id=\"560\" class=\"ninja_table_row_11 nt_row_id_560\">\n            <td>12<\/td><td>When entering into listing contracts, REALTORS\u00ae must advise sellers\/landlords of company policies, facts, and any potential for listing brokers to act as disclosed dual agents.<\/td>        <\/tr>\n            <tr data-row_id=\"561\" class=\"ninja_table_row_12 nt_row_id_561\">\n            <td>13<\/td><td>When entering into buyer\/tenant agreements, REALTORS\u00ae must advise potential clients of REALTOR\u00ae\u2019s company policies, amount of compensation,  potential for additional or offsetting compensation, etc. <\/td>        <\/tr>\n            <tr data-row_id=\"562\" class=\"ninja_table_row_13 nt_row_id_562\">\n            <td>14<\/td><td>Fees for preparing appraisals or other valuations shall not be contingent upon the amount of the appraisal or valuation.<\/td>        <\/tr>\n            <tr data-row_id=\"563\" class=\"ninja_table_row_14 nt_row_id_563\">\n            <td>15<\/td><td>REALTORS\u00ae must disclose offers when asked by buyers or brokers, with the sellers' consent.<\/td>        <\/tr>\n            <tr data-row_id=\"564\" class=\"ninja_table_row_15 nt_row_id_564\">\n            <td>16<\/td><td>REALTORS\u00ae are prohibited from accessing, using, allowing, enabling anyone to access or use, listed or managed property on terms or conditions that are not allowed by the owner or seller.<\/td>        <\/tr>\n    <\/tbody><!--ninja_tobody_rendering_done-->\n    <\/table>\n    \n    \n    \n<\/div>\n\n\n\n\n<h4 class=\"margin-top-28 wp-block-heading\"><strong>Article 2<\/strong><\/h4>\n\n\n\n<p>Avoid exaggeration, misrepresentation, or concealment of facts related to the property.<\/p>\n\n\n\n<div id=\"footable_parent_35017\"\n         class=\" footable_parent ninja_table_wrapper loading_ninja_table wp_table_data_press_parent semantic_ui \">\n                <table data-ninja_table_instance=\"ninja_table_instance_1\" data-footable_id=\"35017\" data-filter-delay=\"1000\" aria-label=\"Article 2\"            id=\"footable_35017\"\n           data-unique_identifier=\"ninja_table_unique_id_2459347604_35017\"\n           class=\" foo-table ninja_footable foo_table_35017 ninja_table_unique_id_2459347604_35017 ui table  nt_type_legacy_table celled vertical_centered  footable-paging-right ninja_table_search_disabled ninja_table_pro\">\n                <colgroup>\n                            <col class=\"ninja_column_0 \">\n                            <col class=\"ninja_column_1 \">\n                    <\/colgroup>\n        <thead>\n<tr class=\"footable-header\">\n                                        <th scope=\"col\"  class=\"ninja_column_0 ninja_clmn_nm_sr_no \">Sr. No.<\/th><th scope=\"col\"  class=\"ninja_column_1 ninja_clmn_nm_standards_of_practice \">Standards of Practice<\/th><\/tr>\n<\/thead>\n<tbody>\n\n        <tr data-row_id=\"565\" class=\"ninja_table_row_0 nt_row_id_565\">\n            <td>1<\/td><td>REALTORS\u00ae are only required to find and disclose unfavorable aspects that are reasonably obvious to someone with experience in the areas that their real estate licensing authority requires.<\/td>        <\/tr>\n            <tr data-row_id=\"566\" class=\"ninja_table_row_1 nt_row_id_566\">\n            <td>2<\/td><td>Unless it is the name of an obviously nominal consideration, REALTORS\u00ae shall not be parties to the naming of a false consideration in any document.<\/td>        <\/tr>\n            <tr data-row_id=\"567\" class=\"ninja_table_row_2 nt_row_id_567\">\n            <td>3<\/td><td>Factors defined as \u201cnon-material\u201d or are expressly referenced in law or regulation as not being subject to disclosure are considered not \u201cpertinent\u201d.<\/td>        <\/tr>\n    <\/tbody><!--ninja_tobody_rendering_done-->\n    <\/table>\n    \n    \n    \n<\/div>\n\n\n\n\n<h4 class=\"margin-top-28 wp-block-heading\"><strong>Article 3<\/strong><\/h4>\n\n\n\n<p>Work cooperatively with other brokers unless it&#8217;s in the client&#8217;s best interests.<\/p>\n\n\n\n<div id=\"footable_parent_35023\"\n         class=\" footable_parent ninja_table_wrapper loading_ninja_table wp_table_data_press_parent semantic_ui \">\n                <table data-ninja_table_instance=\"ninja_table_instance_2\" data-footable_id=\"35023\" data-filter-delay=\"1000\" aria-label=\"Article 3\"            id=\"footable_35023\"\n           data-unique_identifier=\"ninja_table_unique_id_3353824305_35023\"\n           class=\" foo-table ninja_footable foo_table_35023 ninja_table_unique_id_3353824305_35023 ui table  nt_type_legacy_table celled  footable-paging-center ninja_table_search_disabled ninja_table_pro\">\n                <colgroup>\n                            <col class=\"ninja_column_0 \">\n                            <col class=\"ninja_column_1 \">\n                    <\/colgroup>\n        <thead>\n<tr class=\"footable-header\">\n                                        <th scope=\"col\"  class=\"ninja_column_0 ninja_clmn_nm_sr_no \">Sr. No.<\/th><th scope=\"col\"  class=\"ninja_column_1 ninja_clmn_nm_standard_of_practice \">Standard of Practice<\/th><\/tr>\n<\/thead>\n<tbody>\n\n        <tr data-row_id=\"568\" class=\"ninja_table_row_0 nt_row_id_568\">\n            <td>1<\/td><td>The terms and conditions of cooperative offers are established by REALTORS\u00ae acting as exclusive agents or brokers for sellers\/landlords.<\/td>        <\/tr>\n            <tr data-row_id=\"569\" class=\"ninja_table_row_1 nt_row_id_569\">\n            <td>2<\/td><td>Any change in compensation offered for cooperative services must be communicated to the other REALTOR\u00ae prior to the time that REALTOR\u00ae submits an offer to purchase\/lease the property.<\/td>        <\/tr>\n            <tr data-row_id=\"570\" class=\"ninja_table_row_2 nt_row_id_570\">\n            <td>3<\/td><td>Standard of Practice 3-2 does not preclude the listing broker and cooperating broker from entering into an agreement to change cooperative compensation. <\/td>        <\/tr>\n            <tr data-row_id=\"571\" class=\"ninja_table_row_3 nt_row_id_571\">\n            <td>4<\/td><td>When working as listing brokers, REALTORS\u00ae are required to declare the existence of dual or variable rate compensation arrangements.<\/td>        <\/tr>\n            <tr data-row_id=\"572\" class=\"ninja_table_row_4 nt_row_id_572\">\n            <td>5<\/td><td>It is the obligation of subagents to promptly disclose all pertinent facts to the principal\u2019s agent prior to as well as after a purchase or lease agreement is executed. <\/td>        <\/tr>\n            <tr data-row_id=\"573\" class=\"ninja_table_row_5 nt_row_id_573\">\n            <td>6<\/td><td>REALTORS\u00ae shall disclose the existence of accepted offers, including offers with unresolved contingencies, to any broker seeking cooperation. <\/td>        <\/tr>\n            <tr data-row_id=\"574\" class=\"ninja_table_row_6 nt_row_id_574\">\n            <td>7<\/td><td>REALTORS\u00ae must reveal their REALTOR\u00ae status and whether their interest is personal or on behalf of a client when requesting information from another REALTOR\u00ae about property under a management or listing arrangement.<\/td>        <\/tr>\n            <tr data-row_id=\"575\" class=\"ninja_table_row_7 nt_row_id_575\">\n            <td>8<\/td><td>REALTORS\u00ae shall not misrepresent the availability of access to show or inspect a listed property. <\/td>        <\/tr>\n            <tr data-row_id=\"576\" class=\"ninja_table_row_8 nt_row_id_576\">\n            <td>9<\/td><td>REALTORS\u00ae shall not provide access to listed property on terms other than those established by the owner or the listing broker.<\/td>        <\/tr>\n            <tr data-row_id=\"577\" class=\"ninja_table_row_9 nt_row_id_577\">\n            <td>10<\/td><td>When it is in the best interests of sellers\/landlords, the responsibility to cooperate defined in Article 3 refers to the requirement to share information about listed property with other brokers and to make property available to other brokers for showing to possible purchasers\/tenants.<\/td>        <\/tr>\n            <tr data-row_id=\"578\" class=\"ninja_table_row_10 nt_row_id_578\">\n            <td>11<\/td><td>REALTORS\u00ae may not refuse to cooperate on the basis of a broker\u2019s race, color, religion, sex, handicap, familial status, national origin, sexual orientation, or gender identity.<\/td>        <\/tr>\n    <\/tbody><!--ninja_tobody_rendering_done-->\n    <\/table>\n    \n    \n    \n<\/div>\n\n\n\n\n<h4 class=\"margin-top-28 wp-block-heading\"><strong>Article 4-5<\/strong><\/h4>\n\n\n\n<p>Disclose any personal interest in a property.&nbsp;<\/p>\n\n\n\n<div id=\"footable_parent_35031\"\n         class=\" footable_parent ninja_table_wrapper loading_ninja_table wp_table_data_press_parent semantic_ui \">\n                <table data-ninja_table_instance=\"ninja_table_instance_3\" data-footable_id=\"35031\" data-filter-delay=\"1000\" aria-label=\"Article 4\"            id=\"footable_35031\"\n           data-unique_identifier=\"ninja_table_unique_id_3505281159_35031\"\n           class=\" foo-table ninja_footable foo_table_35031 ninja_table_unique_id_3505281159_35031 ui table  nt_type_legacy_table celled  footable-paging-right ninja_table_search_disabled ninja_table_pro\">\n                <colgroup>\n                            <col class=\"ninja_column_0 \">\n                            <col class=\"ninja_column_1 \">\n                    <\/colgroup>\n        <thead>\n<tr class=\"footable-header\">\n                                        <th scope=\"col\"  class=\"ninja_column_0 ninja_clmn_nm_sr_no \">Sr. No.<\/th><th scope=\"col\"  class=\"ninja_column_1 ninja_clmn_nm_standards_of_practice \">Standards of Practice<\/th><\/tr>\n<\/thead>\n<tbody>\n\n        <tr data-row_id=\"579\" class=\"ninja_table_row_0 nt_row_id_579\">\n            <td>1<\/td><td>For the protection of all parties, the disclosures required by Article 4 shall be in writing and provided by REALTORS\u00ae prior to the signing of any contract. <\/td>        <\/tr>\n    <\/tbody><!--ninja_tobody_rendering_done-->\n    <\/table>\n    \n    \n    \n<\/div>\n\n\n\n\n<h4 class=\"margin-top-28 wp-block-heading\"><strong>Article 6-7<\/strong><\/h4>\n\n\n\n<p>No recommending services for a kickback or collecting money under the table.<\/p>\n\n\n\n<div id=\"footable_parent_35032\"\n         class=\" footable_parent ninja_table_wrapper loading_ninja_table wp_table_data_press_parent semantic_ui \">\n                <table data-ninja_table_instance=\"ninja_table_instance_4\" data-footable_id=\"35032\" data-filter-delay=\"1000\" aria-label=\"Article 6\"            id=\"footable_35032\"\n           data-unique_identifier=\"ninja_table_unique_id_828656338_35032\"\n           class=\" foo-table ninja_footable foo_table_35032 ninja_table_unique_id_828656338_35032 ui table  nt_type_legacy_table celled  footable-paging-right ninja_table_search_disabled ninja_table_pro\">\n                <colgroup>\n                            <col class=\"ninja_column_0 \">\n                            <col class=\"ninja_column_1 \">\n                    <\/colgroup>\n        <thead>\n<tr class=\"footable-header\">\n                                        <th scope=\"col\"  class=\"ninja_column_0 ninja_clmn_nm_sr_no \">Sr. No.<\/th><th scope=\"col\"  class=\"ninja_column_1 ninja_clmn_nm_standards_of_practice \">Standards of Practice<\/th><\/tr>\n<\/thead>\n<tbody>\n\n        <tr data-row_id=\"580\" class=\"ninja_table_row_0 nt_row_id_580\">\n            <td>1<\/td><td>REALTORS\u00ae shall not recommend or suggest to a client or a customer the use of services of another organization or business entity in which they have a direct interest without disclosing such interest at the time of the recommendation or suggestion.<\/td>        <\/tr>\n    <\/tbody><!--ninja_tobody_rendering_done-->\n    <\/table>\n    \n    \n    \n<\/div>\n\n\n\n\n<h4 class=\"margin-top-28 wp-block-heading\"><strong>Article 8<\/strong><\/h4>\n\n\n\n<p>Keep clients fund separate from your funds.<\/p>\n\n\n\n<h4 class=\"margin-top-28 wp-block-heading\"><strong>Article 9<\/strong><\/h4>\n\n\n\n<p>Present all documents for the transaction in a clear and understandable language.<\/p>\n\n\n\n<div id=\"footable_parent_35033\"\n         class=\" footable_parent ninja_table_wrapper loading_ninja_table wp_table_data_press_parent semantic_ui \">\n                <table data-ninja_table_instance=\"ninja_table_instance_5\" data-footable_id=\"35033\" data-filter-delay=\"1000\" aria-label=\"Article 9\"            id=\"footable_35033\"\n           data-unique_identifier=\"ninja_table_unique_id_1611595980_35033\"\n           class=\" foo-table ninja_footable foo_table_35033 ninja_table_unique_id_1611595980_35033 ui table  nt_type_legacy_table celled  footable-paging-right ninja_table_search_disabled ninja_table_pro\">\n                <colgroup>\n                            <col class=\"ninja_column_0 \">\n                            <col class=\"ninja_column_1 \">\n                    <\/colgroup>\n        <thead>\n<tr class=\"footable-header\">\n                                        <th scope=\"col\"  class=\"ninja_column_0 ninja_clmn_nm_sr_no \">Sr. No.<\/th><th scope=\"col\"  class=\"ninja_column_1 ninja_clmn_nm_standards_of_practice \">Standards of Practice<\/th><\/tr>\n<\/thead>\n<tbody>\n\n        <tr data-row_id=\"581\" class=\"ninja_table_row_0 nt_row_id_581\">\n            <td>1<\/td><td>For the protection of all parties, REALTORS\u00ae shall use reasonable care to ensure that documents pertaining to the purchase, sale, or lease of real estate are kept current through the use of written extensions or amendments.<\/td>        <\/tr>\n            <tr data-row_id=\"582\" class=\"ninja_table_row_1 nt_row_id_582\">\n            <td>2<\/td><td>REALTORS\u00ae must make reasonable efforts to explain the nature and disclose the precise terms when supporting or enabling a client or customer in forming a contractual relationship electronically.<\/td>        <\/tr>\n    <\/tbody><!--ninja_tobody_rendering_done-->\n    <\/table>\n    \n    \n    \n<\/div>\n\n<\/div>\n<\/div>\n\n\n\n<h3 class=\"margin-top-28 wp-block-heading\" id=\"Duties-to-the-Public\"><strong>B) Duties to the Public<\/strong><\/h3>\n\n\n\n<h4 class=\"margin-top-15 wp-block-heading\"><strong>Article 10<\/strong><\/h4>\n\n\n\n<p>Shall not deny services for reasons of race, color, religion, sex, disability, familial status, national origin, sexual orientation, or gender identity.&nbsp;<\/p>\n\n\n\n<div id=\"footable_parent_35036\"\n         class=\" footable_parent ninja_table_wrapper loading_ninja_table wp_table_data_press_parent semantic_ui \">\n                <table data-ninja_table_instance=\"ninja_table_instance_6\" data-footable_id=\"35036\" data-filter-delay=\"1000\" aria-label=\"Article 10\"            id=\"footable_35036\"\n           data-unique_identifier=\"ninja_table_unique_id_1278661720_35036\"\n           class=\" foo-table ninja_footable foo_table_35036 ninja_table_unique_id_1278661720_35036 ui table  nt_type_legacy_table celled  footable-paging-right ninja_table_search_disabled ninja_table_pro\">\n                <colgroup>\n                            <col class=\"ninja_column_0 \">\n                            <col class=\"ninja_column_1 \">\n                    <\/colgroup>\n        <thead>\n<tr class=\"footable-header\">\n                                        <th scope=\"col\"  class=\"ninja_column_0 ninja_clmn_nm_sr_no \">Sr. No.<\/th><th scope=\"col\"  class=\"ninja_column_1 ninja_clmn_nm_standards_of_practice \">Standards of Practice<\/th><\/tr>\n<\/thead>\n<tbody>\n\n        <tr data-row_id=\"583\" class=\"ninja_table_row_0 nt_row_id_583\">\n            <td>1<\/td><td>When involved in the sale or lease of a residence, REALTORS\u00ae shall not volunteer information regarding the racial, religious or ethnic composition of any neighborhood nor shall they engage in any activity which may result in panic selling.<\/td>        <\/tr>\n            <tr data-row_id=\"584\" class=\"ninja_table_row_1 nt_row_id_584\">\n            <td>2<\/td><td>When not involved in the sale or lease of a residence, REALTORS\u00ae may provide demographic information related to a property.<\/td>        <\/tr>\n            <tr data-row_id=\"585\" class=\"ninja_table_row_2 nt_row_id_585\">\n            <td>3<\/td><td>REALTORS\u00ae are prohibited from printing, displaying, or distributing any statement or advertisement in connection with the sale or rental of a property that expresses any preference, limitation, or discrimination based on race, colour, religion, sex, handicap, familial status, national origin, sexual orientation, or gender identity.<\/td>        <\/tr>\n            <tr data-row_id=\"586\" class=\"ninja_table_row_3 nt_row_id_586\">\n            <td>4<\/td><td>Real estate employment practices relates to employees and independent contractors providing real estate-related services and the administrative and clerical staff directly supporting those individuals.<\/td>        <\/tr>\n            <tr data-row_id=\"587\" class=\"ninja_table_row_4 nt_row_id_587\">\n            <td>5<\/td><td>REALTORS\u00ae must not use harassing speech, hate speech, epithets, or slurs based on race, color, religion, sex, handicap, familial status, national origin, sexual orientation, or gender identity.<\/td>        <\/tr>\n    <\/tbody><!--ninja_tobody_rendering_done-->\n    <\/table>\n    \n    \n    \n<\/div>\n\n\n\n\n<h4 class=\"margin-top-28 wp-block-heading\"><strong>Article 11<\/strong><\/h4>\n\n\n\n<p>Provide services that conform to the standards of practice and competence.<\/p>\n\n\n\n<div id=\"footable_parent_35040\"\n         class=\" footable_parent ninja_table_wrapper loading_ninja_table wp_table_data_press_parent semantic_ui \">\n                <table data-ninja_table_instance=\"ninja_table_instance_7\" data-footable_id=\"35040\" data-filter-delay=\"1000\" aria-label=\"Article 11\"            id=\"footable_35040\"\n           data-unique_identifier=\"ninja_table_unique_id_3899358471_35040\"\n           class=\" foo-table ninja_footable foo_table_35040 ninja_table_unique_id_3899358471_35040 ui table  nt_type_legacy_table celled  footable-paging-right ninja_table_search_disabled ninja_table_pro\">\n                <colgroup>\n                            <col class=\"ninja_column_0 \">\n                            <col class=\"ninja_column_1 \">\n                    <\/colgroup>\n        <thead>\n<tr class=\"footable-header\">\n                                        <th scope=\"col\"  class=\"ninja_column_0 ninja_clmn_nm_sr_no \">Sr. No. <\/th><th scope=\"col\"  class=\"ninja_column_1 ninja_clmn_nm_standards_of_practice \">Standards of Practice<\/th><\/tr>\n<\/thead>\n<tbody>\n\n        <tr data-row_id=\"588\" class=\"ninja_table_row_0 nt_row_id_588\">\n            <td>1<\/td><td>When REALTORS\u00ae prepare opinions of real property value or price they must be knowledgeable, have access to and be familiar with the information.<\/td>        <\/tr>\n            <tr data-row_id=\"589\" class=\"ninja_table_row_1 nt_row_id_589\">\n            <td>2<\/td><td>In real estate disciplines other than assessment, the real estate Code of Ethics responsibilities must be understood and applied in accordance with the norms of competence.<\/td>        <\/tr>\n            <tr data-row_id=\"590\" class=\"ninja_table_row_2 nt_row_id_590\">\n            <td>3<\/td><td>When REALTORS\u00ae provide fee-based consultative services to customers that include advise or counsel, the guidance must be objective.<\/td>        <\/tr>\n            <tr data-row_id=\"591\" class=\"ninja_table_row_3 nt_row_id_591\">\n            <td>4<\/td><td>Article 11 specifies the competency required for services contracted between REALTORS\u00ae and their clients or customers, as well as the duties expressly imposed by the Code of Ethics and those imposed by law or regulation.<\/td>        <\/tr>\n    <\/tbody><!--ninja_tobody_rendering_done-->\n    <\/table>\n    \n    \n    \n<\/div>\n\n\n\n\n<h4 class=\"margin-top-28 wp-block-heading\"><strong>Article 12<\/strong><\/h4>\n\n\n\n<p>No false or misleading advertising.<\/p>\n\n\n\n<div id=\"footable_parent_35043\"\n         class=\" footable_parent ninja_table_wrapper loading_ninja_table wp_table_data_press_parent semantic_ui \">\n                <table data-ninja_table_instance=\"ninja_table_instance_8\" data-footable_id=\"35043\" data-filter-delay=\"1000\" aria-label=\"Article 12\"            id=\"footable_35043\"\n           data-unique_identifier=\"ninja_table_unique_id_2316054372_35043\"\n           class=\" foo-table ninja_footable foo_table_35043 ninja_table_unique_id_2316054372_35043 ui table  nt_type_legacy_table celled  footable-paging-right ninja_table_search_disabled ninja_table_pro\">\n                <colgroup>\n                            <col class=\"ninja_column_0 \">\n                            <col class=\"ninja_column_1 \">\n                    <\/colgroup>\n        <thead>\n<tr class=\"footable-header\">\n                                        <th scope=\"col\"  class=\"ninja_column_0 ninja_clmn_nm_sr_no \">Sr. No. <\/th><th scope=\"col\"  class=\"ninja_column_1 ninja_clmn_nm_standards_of_practice \">Standards of Practice<\/th><\/tr>\n<\/thead>\n<tbody>\n\n        <tr data-row_id=\"592\" class=\"ninja_table_row_0 nt_row_id_592\">\n            <td>1<\/td><td>REALTORS\u00ae may not represent to a client or customer that their brokerage services are free or available at no cost to them.<\/td>        <\/tr>\n            <tr data-row_id=\"593\" class=\"ninja_table_row_1 nt_row_id_593\">\n            <td>2<\/td><td>Offering rewards, prizes, merchandise discounts, or other incentives to list, sell, purchase, or lease through the REALTOR\u00ae making the offer is not inherently unethical, even if receiving the benefit depends on the transaction.<\/td>        <\/tr>\n            <tr data-row_id=\"594\" class=\"ninja_table_row_2 nt_row_id_594\">\n            <td>3<\/td><td>REALTORS\u00ae shall not offer for sale\/lease or advertise property without authority.<\/td>        <\/tr>\n            <tr data-row_id=\"595\" class=\"ninja_table_row_3 nt_row_id_595\">\n            <td>4<\/td><td>REALTORS\u00ae shall not market real estate services or listed property in any medium without disclosing the name of the REALTOR's firm\u00a0who is advertising them.<\/td>        <\/tr>\n            <tr data-row_id=\"599\" class=\"ninja_table_row_4 nt_row_id_599\">\n            <td>5<\/td><td>REALTORS\u00ae, when advertising unlisted real property for sale\/ lease in which they have an ownership interest, shall disclose their status as both owners\/landlords and as REALTORS\u00ae or real estate licensees. <\/td>        <\/tr>\n            <tr data-row_id=\"600\" class=\"ninja_table_row_5 nt_row_id_600\">\n            <td>6<\/td><td>Only REALTORS\u00ae who were involved in the transaction as the listing broker or collaborating broker are allowed to claim that the property as \"sold.\"<\/td>        <\/tr>\n            <tr data-row_id=\"601\" class=\"ninja_table_row_6 nt_row_id_601\">\n            <td>7<\/td><td>Information published, provided, or displayed on the REALTORS\u00ae websites is part of the obligation to present a true picture in public representations.<\/td>        <\/tr>\n            <tr data-row_id=\"602\" class=\"ninja_table_row_7 nt_row_id_602\">\n            <td>8<\/td><td>Websites for REALTOR\u00ae firms must display the firm's name and state(s) of licensure in a reasonable and visible manner.<\/td>        <\/tr>\n            <tr data-row_id=\"603\" class=\"ninja_table_row_8 nt_row_id_603\">\n            <td>9<\/td><td>The responsibility of REALTORS\u00ae is to offer a true picture in their listings, public announcements and representations.<\/td>        <\/tr>\n            <tr data-row_id=\"604\" class=\"ninja_table_row_9 nt_row_id_604\">\n            <td>10<\/td><td>REALTORS\u00ae intending to share or sell consumer information gathered via the Internet shall disclose that possibility in a reasonable and readily apparent manner. <\/td>        <\/tr>\n            <tr data-row_id=\"605\" class=\"ninja_table_row_10 nt_row_id_605\">\n            <td>11<\/td><td>REALTORS\u00ae must not: 1) use URLs or domain names that give a false impression, or 2) register URLs or domain names that, if utilised, would give a false impression.<\/td>        <\/tr>\n            <tr data-row_id=\"606\" class=\"ninja_table_row_11 nt_row_id_606\">\n            <td>12<\/td><td>The obligation to present a true picture in advertising, marketing, and representations allows REALTORS\u00ae to use and display only professional designations, certifications, and other credentials to which they are legitimately entitled.<\/td>        <\/tr>\n    <\/tbody><!--ninja_tobody_rendering_done-->\n    <\/table>\n    \n    \n    \n<\/div>\n\n\n\n\n<h4 class=\"margin-top-28 wp-block-heading\"><strong>Article 13<\/strong><\/h4>\n\n\n\n<p>Should not&nbsp;engage&nbsp;in&nbsp;any unlawful&nbsp;practice&nbsp;of law.<\/p>\n\n\n\n<h4 class=\"margin-top-28 wp-block-heading\"><strong>Article 14<\/strong><\/h4>\n\n\n\n<p>Shall not disrupt or obstruct the board&#8217;s investigations if charged with a violation.<\/p>\n\n\n\n<div id=\"footable_parent_35063\"\n         class=\" footable_parent ninja_table_wrapper loading_ninja_table wp_table_data_press_parent semantic_ui \">\n                <table data-ninja_table_instance=\"ninja_table_instance_9\" data-footable_id=\"35063\" data-filter-delay=\"1000\" aria-label=\"Article 14\"            id=\"footable_35063\"\n           data-unique_identifier=\"ninja_table_unique_id_3244195758_35063\"\n           class=\" foo-table ninja_footable foo_table_35063 ninja_table_unique_id_3244195758_35063 ui table  nt_type_legacy_table celled  footable-paging-right ninja_table_search_disabled ninja_table_pro\">\n                <colgroup>\n                            <col class=\"ninja_column_0 \">\n                            <col class=\"ninja_column_1 \">\n                    <\/colgroup>\n        <thead>\n<tr class=\"footable-header\">\n                                        <th scope=\"col\"  class=\"ninja_column_0 ninja_clmn_nm_sr_no \">Sr. No. <\/th><th scope=\"col\"  class=\"ninja_column_1 ninja_clmn_nm_standards_of_practice \">Standards of Practice<\/th><\/tr>\n<\/thead>\n<tbody>\n\n        <tr data-row_id=\"607\" class=\"ninja_table_row_0 nt_row_id_607\">\n            <td>1<\/td><td>REALTORS\u00ae shall not be subject to disciplinary proceedings in more than one Board of REALTORS.<\/td>        <\/tr>\n            <tr data-row_id=\"608\" class=\"ninja_table_row_1 nt_row_id_608\">\n            <td>2<\/td><td>REALTORS\u00ae are prohibited from disclosing or spreading the allegations in any way that is not allowed.<\/td>        <\/tr>\n            <tr data-row_id=\"609\" class=\"ninja_table_row_2 nt_row_id_609\">\n            <td>3<\/td><td>REALTORS\u00ae are not permitted to obstruct the Board's investigative or professional standards proceedings by filing a lawsuit.<\/td>        <\/tr>\n            <tr data-row_id=\"610\" class=\"ninja_table_row_3 nt_row_id_610\">\n            <td>4<\/td><td>REALTORS\u00ae must not file several ethical complaints based on the same event or transaction in order to obstruct the Board's investigation or disciplinary processes.<\/td>        <\/tr>\n    <\/tbody><!--ninja_tobody_rendering_done-->\n    <\/table>\n    \n    \n    \n<\/div>\n\n\n\n\n<h3 class=\"margin-top-28 wp-block-heading\" id=\"Duties-to-the-Realtors\"><strong><strong>C) Duties to the Realtors<\/strong><\/strong><\/h3>\n\n\n\n<h4 class=\"margin-top-15 wp-block-heading\"><strong>Article 15<\/strong><\/h4>\n\n\n\n<p>Shall not make false or misleading statements about other real estate professionals, their businesses, or their business practices.<\/p>\n\n\n\n<div id=\"footable_parent_35065\"\n         class=\" footable_parent ninja_table_wrapper loading_ninja_table wp_table_data_press_parent semantic_ui \">\n                <table data-ninja_table_instance=\"ninja_table_instance_10\" data-footable_id=\"35065\" data-filter-delay=\"1000\" aria-label=\"Article 15\"            id=\"footable_35065\"\n           data-unique_identifier=\"ninja_table_unique_id_2285854007_35065\"\n           class=\" foo-table ninja_footable foo_table_35065 ninja_table_unique_id_2285854007_35065 ui table  nt_type_legacy_table celled  footable-paging-right ninja_table_search_disabled ninja_table_pro\">\n                <colgroup>\n                            <col class=\"ninja_column_0 \">\n                            <col class=\"ninja_column_1 \">\n                    <\/colgroup>\n        <thead>\n<tr class=\"footable-header\">\n                                        <th scope=\"col\"  class=\"ninja_column_0 ninja_clmn_nm_sr_no \">Sr. No. <\/th><th scope=\"col\"  class=\"ninja_column_1 ninja_clmn_nm_standards_of_practice \">Standards of Practice<\/th><\/tr>\n<\/thead>\n<tbody>\n\n        <tr data-row_id=\"614\" class=\"ninja_table_row_0 nt_row_id_614\">\n            <td>1<\/td><td>REALTORS\u00ae shall not knowingly or recklessly file false or unfounded ethics complaints.<\/td>        <\/tr>\n            <tr data-row_id=\"615\" class=\"ninja_table_row_1 nt_row_id_615\">\n            <td>2<\/td><td>The obligation to refrain from making false or misleading statements about other real estate professionals, their businesses, and their business practices includes the duty to not knowingly or recklessly publish, repeat, retransmit, or republish false or misleading statements made by others.<\/td>        <\/tr>\n            <tr data-row_id=\"616\" class=\"ninja_table_row_2 nt_row_id_616\">\n            <td>3<\/td><td>Realtors must clarify or remove false or misleading statements made by others on their controlled electronic media once they become aware of them.<\/td>        <\/tr>\n    <\/tbody><!--ninja_tobody_rendering_done-->\n    <\/table>\n    \n    \n    \n<\/div>\n\n\n\n\n<h4 class=\"margin-top-28 wp-block-heading\"><strong>Article 16<\/strong><\/h4>\n\n\n\n<p>Shall not solicit clients who have already signed an exclusive listing agreement with another Realtor.<\/p>\n\n\n\n<div id=\"footable_parent_35077\"\n         class=\" footable_parent ninja_table_wrapper loading_ninja_table wp_table_data_press_parent semantic_ui \">\n                <table data-ninja_table_instance=\"ninja_table_instance_11\" data-footable_id=\"35077\" data-filter-delay=\"1000\" aria-label=\"Article 16\"            id=\"footable_35077\"\n           data-unique_identifier=\"ninja_table_unique_id_1691828000_35077\"\n           class=\" foo-table ninja_footable foo_table_35077 ninja_table_unique_id_1691828000_35077 ui table  nt_type_legacy_table celled  footable-paging-right ninja_table_search_disabled ninja_table_pro\">\n                <colgroup>\n                            <col class=\"ninja_column_0 \">\n                            <col class=\"ninja_column_1 \">\n                    <\/colgroup>\n        <thead>\n<tr class=\"footable-header\">\n                                        <th scope=\"col\"  class=\"ninja_column_0 ninja_clmn_nm_sr_no \">Sr. No. <\/th><th scope=\"col\"  class=\"ninja_column_1 ninja_clmn_nm_standards_of_practice \">Standards of Practice<\/th><\/tr>\n<\/thead>\n<tbody>\n\n        <tr data-row_id=\"627\" class=\"ninja_table_row_0 nt_row_id_627\">\n            <td>1<\/td><td>Article 16 is not intended to prohibit aggressive or innovative business practices.<\/td>        <\/tr>\n            <tr data-row_id=\"628\" class=\"ninja_table_row_1 nt_row_id_628\">\n            <td>2<\/td><td>Article 16 does not preclude REALTORS\u00ae from making general announcements to prospects describing their services and the terms of their availability even though some recipients may have entered into agency agreements or other exclusive relationships with another REALTOR\u00ae.<\/td>        <\/tr>\n            <tr data-row_id=\"629\" class=\"ninja_table_row_2 nt_row_id_629\">\n            <td>3<\/td><td>Article 16 does not prohibit REALTORS\u00ae from contacting a client of another broker with the intent of providing or entering into a contract to provide a different type of real estate service than the one already being offered.<\/td>        <\/tr>\n            <tr data-row_id=\"630\" class=\"ninja_table_row_3 nt_row_id_630\">\n            <td>4<\/td><td>REALTORS\u00ae shall not solicit a listing which is currently listed exclusively with another broker.<\/td>        <\/tr>\n            <tr data-row_id=\"631\" class=\"ninja_table_row_4 nt_row_id_631\">\n            <td>5<\/td><td>REALTORS\u00ae shall not solicit buyer\/tenant agreements from buyers\/tenants who are subject to exclusive buyer\/tenant agreements. <\/td>        <\/tr>\n            <tr data-row_id=\"641\" class=\"ninja_table_row_5 nt_row_id_641\">\n            <td>6<\/td><td>If another REALTOR\u00ae's client contacts them about forming an exclusive relationship without any initiation from them, they can discuss future terms or agree to an arrangement effective after the current exclusive agreement expires.<\/td>        <\/tr>\n            <tr data-row_id=\"649\" class=\"ninja_table_row_6 nt_row_id_649\">\n            <td>7<\/td><td>The fact that a prospect used a REALTOR\u00ae as an exclusive agent in one or more previous transactions does not bar other REALTORS\u00ae from pursuing the prospect's business in the future.<\/td>        <\/tr>\n            <tr data-row_id=\"650\" class=\"ninja_table_row_7 nt_row_id_650\">\n            <td>8<\/td><td>The fact that an exclusive agreement has been entered into with a REALTOR\u00ae shall not preclude or inhibit any other REALTOR\u00ae from entering into a similar agreement after the expiration of the prior agreement.<\/td>        <\/tr>\n            <tr data-row_id=\"651\" class=\"ninja_table_row_8 nt_row_id_651\">\n            <td>9<\/td><td>REALTORS\u00ae, prior to entering into a representation agreement, have an affirmative obligation to make reasonable efforts to determine whether the prospect is subject to a current, valid exclusive agreement to provide the same type of real estate service.<\/td>        <\/tr>\n            <tr data-row_id=\"652\" class=\"ninja_table_row_9 nt_row_id_652\">\n            <td>10<\/td><td>At the time of first contact, REALTORS\u00ae serving as buyer or tenant representatives or brokers must declare their relationship to the seller\/representative landlord's or broker.<\/td>        <\/tr>\n            <tr data-row_id=\"653\" class=\"ninja_table_row_10 nt_row_id_653\">\n            <td>11<\/td><td>REALTORS\u00ae operating as buyer\/tenant representatives or brokers on unlisted property must first reveal their relationship to the seller\/landlord.<\/td>        <\/tr>\n            <tr data-row_id=\"654\" class=\"ninja_table_row_11 nt_row_id_654\">\n            <td>12<\/td><td>When operating as a representative or broker for a seller\/landlord or as a subagent of a listing broker, REALTORS\u00ae must first disclose the relationship to buyers\/tenants.<\/td>        <\/tr>\n            <tr data-row_id=\"655\" class=\"ninja_table_row_12 nt_row_id_655\">\n            <td>13<\/td><td>Except with the client's representative or broker's consent or where such dealings are initiated by the client, all dealings concerning exclusively listed property or with buyers\/tenants who are subject to an exclusive agreement shall be conducted with the client's representative or broker, and not with the client.<\/td>        <\/tr>\n            <tr data-row_id=\"656\" class=\"ninja_table_row_13 nt_row_id_656\">\n            <td>14<\/td><td>REALTORS\u00ae are free to enter into contractual relationships or to negotiate with sellers\/landlords, buyers\/tenants or others who are not subject to an exclusive agreement.<\/td>        <\/tr>\n            <tr data-row_id=\"657\" class=\"ninja_table_row_14 nt_row_id_657\">\n            <td>15<\/td><td>REALTORS\u00ae must compensate cooperating REALTORS\u00ae in cooperative transactions. They must not compensate or offer to compensate any sales licensees employed by or affiliated with other REALTORS\u00ae without the prior express knowledge and consent of the cooperating broker.<\/td>        <\/tr>\n            <tr data-row_id=\"658\" class=\"ninja_table_row_15 nt_row_id_658\">\n            <td>16<\/td><td>As subagents or buyer\/tenant representatives, REALTORS\u00ae or brokers, shall not rely on the terms of a purchase\/lease offer\u00a0to make an attempt to change the listing broker's compensation offer.<\/td>        <\/tr>\n            <tr data-row_id=\"659\" class=\"ninja_table_row_16 nt_row_id_659\">\n            <td>17<\/td><td>REALTORS\u00ae, acting as subagents or as buyer\/tenant representatives or brokers, shall not attempt to extend a listing broker\u2019s offer of cooperation and\/or compensation to other brokers without the consent of the listing broker.<\/td>        <\/tr>\n            <tr data-row_id=\"660\" class=\"ninja_table_row_17 nt_row_id_660\">\n            <td>18<\/td><td>REALTORS\u00ae are prohibited from using information gained from listing brokers as a result of cooperative offers made through multiple listing services.<\/td>        <\/tr>\n            <tr data-row_id=\"661\" class=\"ninja_table_row_18 nt_row_id_661\">\n            <td>19<\/td><td>Signs giving notice of property for sale, rent, lease, or exchange shall not be placed on property without consent of the seller\/ landlord. <\/td>        <\/tr>\n            <tr data-row_id=\"662\" class=\"ninja_table_row_19 nt_row_id_662\">\n            <td>20<\/td><td>REALTORS\u00ae, prior to or after their relationship with their current firm is terminated, shall not induce clients of their current firm to cancel exclusive contractual agreements between the client and that firm<\/td>        <\/tr>\n    <\/tbody><!--ninja_tobody_rendering_done-->\n    <\/table>\n    \n    \n    \n<\/div>\n\n\n\n\n<h4 class=\"margin-top-28 wp-block-heading\"><strong>Article 17<\/strong><\/h4>\n\n\n\n<p>Shall mediate a dispute, if any, if the Board requires its members to mediate.<\/p>\n\n\n\n<div id=\"footable_parent_35067\"\n         class=\" footable_parent ninja_table_wrapper loading_ninja_table wp_table_data_press_parent semantic_ui \">\n                <table data-ninja_table_instance=\"ninja_table_instance_12\" data-footable_id=\"35067\" data-filter-delay=\"1000\" aria-label=\"Article 17\"            id=\"footable_35067\"\n           data-unique_identifier=\"ninja_table_unique_id_704235056_35067\"\n           class=\" foo-table ninja_footable foo_table_35067 ninja_table_unique_id_704235056_35067 ui table  nt_type_legacy_table celled  footable-paging-right ninja_table_search_disabled ninja_table_pro\">\n                <colgroup>\n                            <col class=\"ninja_column_0 \">\n                            <col class=\"ninja_column_1 \">\n                    <\/colgroup>\n        <thead>\n<tr class=\"footable-header\">\n                                        <th scope=\"col\"  class=\"ninja_column_0 ninja_clmn_nm_sr_no \">Sr. No. <\/th><th scope=\"col\"  class=\"ninja_column_1 ninja_clmn_nm_standards_of_practice \">Standards of Practice<\/th><\/tr>\n<\/thead>\n<tbody>\n\n        <tr data-row_id=\"621\" class=\"ninja_table_row_0 nt_row_id_621\">\n            <td>1<\/td><td>The filing of litigation and refusal to withdraw from it by REALTORS\u00ae in an arbitrable matter constitutes a refusal to arbitrate.<\/td>        <\/tr>\n            <tr data-row_id=\"622\" class=\"ninja_table_row_1 nt_row_id_622\">\n            <td>2<\/td><td>Article 17 does not require REALTORS\u00ae to mediate in those circumstances when all parties to the dispute advise the Board in writing that they choose not to mediate through the Board\u2019s facilities.<\/td>        <\/tr>\n            <tr data-row_id=\"623\" class=\"ninja_table_row_2 nt_row_id_623\">\n            <td>3<\/td><td>REALTORS\u00ae, when acting solely as principals in a real estate transaction, are not obligated to arbitrate disputes with other REALTORS\u00ae absent a specific written agreement to the contrary.<\/td>        <\/tr>\n            <tr data-row_id=\"625\" class=\"ninja_table_row_3 nt_row_id_625\">\n            <td>4<\/td><td>Specific non-contractual disputes are covered under this standard of practice.<\/td>        <\/tr>\n            <tr data-row_id=\"626\" class=\"ninja_table_row_4 nt_row_id_626\">\n            <td>5<\/td><td>The obligation to arbitrate established in Article 17 includes disputes between REALTORS\u00ae (principals) in different states.<\/td>        <\/tr>\n    <\/tbody><!--ninja_tobody_rendering_done-->\n    <\/table>\n    \n    \n    \n<\/div>\n\n\n\n\n<h2 class=\"margin-top-28 wp-block-heading\" id=\"code-of-ethics-violation\"><strong><strong>What if a Realtor Violates the Code of Ethics?<\/strong><\/strong><\/h2>\n\n\n\n<p>Consumers can file an <a href=\"https:\/\/www.nar.realtor\/code-of-ethics-and-arbitration-manual\/part-3-section-19-grievance-committees-review-of-an-ethics-complaint\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">ethics complaint<\/a> if a Realtor violates one or more real estate ethics. Additionally, this can be done through the Board of Realtors.<\/p>\n\n\n\n<p>The <a href=\"https:\/\/www.nar.realtor\/code-of-ethics-and-arbitration-manual\/part-2-section-14-nature-of-discipline\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">sanctions<\/a> for the real estate agent Code of Ethics violation may include:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>A fine not to exceed $15,000<\/li><li>Suspension from the board or association<\/li><li>A letter of reprimand<\/li><li>Requirement to enroll for specific set of educational courses<\/li><\/ul>\n\n\n\n<div style=\"height:15px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<ul class=\"check-minus-content-list\" style=\"background-color: #dff0ff; padding:20px; margin-left:-5px;\">\n\u270d\ufe0f <b>Important Note:<\/b> There were lawsuits filed against NAR for engaging in practices that inflated home-selling commission rates. However, it has been settled resulting in sellers not taking the whole brunt of paying the real estate agent fees.<\/ul>\n\n\n\n<div style=\"height:7px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"margin-top-28 wp-block-heading\"><strong>Will the NAR Lawsuit Benefit Home Sellers?<\/strong> <\/h2>\n\n\n\n<p>The recent tsunami of antitrust class action lawsuits against NAR has forced it to settle for $418 million. It has also led to a series of changes that could potentially <a href=\"https:\/\/www.houzeo.com\/blog\/nar-settlement\/\" target=\"_blank\" rel=\"noreferrer noopener\">reduce the burden of buyer agent commission<\/a> on the seller. <\/p>\n\n\n\n<p>Here are the settlement terms:<\/p>\n\n\n\n<ol class=\"wp-block-list\"><li><strong>NAR will not create rules that mandate listing agents to set compensation for buyer brokers.<\/strong>\u00a0There will now be room for independent negotiation between buyers and their agents, potentially reducing the seller&#8217;s overall commission burden.<\/li><li><strong>NAR will create a rule to ensure compensation offers aren\u2019t displayed on the MLS listings.<\/strong>\u00a0This could encourage transparent and competitive commission discussions.<\/li><\/ol>\n\n\n\n<p>Are you curious about NAR&#8217;s recent year of trouble? Watch our detailed analysis.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><a href=\"https:\/\/www.youtube.com\/embed\/Ts3WuoQDYc8\"><img decoding=\"async\" loading=\"lazy\" width=\"840px\" height=\"450px\" src=\"https:\/\/www.houzeo.com\/blog\/wp-content\/uploads\/2024\/05\/NAR-Powerhouse-under-Fire.webp\" alt=\"\" class=\"wp-image-536497\" srcset=\"https:\/\/www.houzeo.com\/blog\/wp-content\/uploads\/2024\/05\/NAR-Powerhouse-under-Fire.webp 672w, https:\/\/www.houzeo.com\/blog\/wp-content\/uploads\/2024\/05\/NAR-Powerhouse-under-Fire-300x169.webp 300w\" sizes=\"auto, (max-width: 672px) 100vw, 672px\" \/><\/a><\/figure>\n<\/div>\n\n\n<h2 class=\"margin-top-28 wp-block-heading\"><strong>Conclusion<\/strong><\/h2>\n\n\n\n<p>The NAR Code of Ethics serves as a foundational framework that defines the integrity and professionalism within the real estate industry. Moreover, it remains a vital guide for upholding ethical standards and fostering client trust.<\/p>\n\n\n\n<h2 class=\"margin-top-28 wp-block-heading\"><strong>Frequently Asked Questions<\/strong><\/h2>\n\n\n\n\t\t<div class=\"wp-faq-schema-wrap wp-faq-schema-accordion\">\n\t\t\t\t\t\t<div class=\"wp-faq-schema-items\">\n\t\t\t\t\t\t\t\t\t<p class=\"ui-accordion-header\">\n\t\t\t\t\t\tWhat is the NAR Code of Ethics?\t\t\t\t\t\t<span class=\"ui-accordion-header-icon ui-icon ui-icon-triangle-1-s\"><\/span>\n\t\t\t\t\t<\/p>\n\t\t\t\t\t<div class=\"ui-accordion-content\">\n\t\t\t\t\t\t<p>It's an ethical framework that outlines the professional responsibilities of Realtors. The code was developed to <a href=\"#Importance-of-Ethics-in-Real-Estate\">protect the interests<\/a> of clients, public, and the real estate professionals associated with NAR.<\/p>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<p class=\"ui-accordion-header\">\n\t\t\t\t\t\tWhat are the 3 major categories of NAR Code of Ethics?\t\t\t\t\t\t<span class=\"ui-accordion-header-icon ui-icon ui-icon-triangle-1-s\"><\/span>\n\t\t\t\t\t<\/p>\n\t\t\t\t\t<div class=\"ui-accordion-content\">\n\t\t\t\t\t\t<p>The 3 major <a href=\"#who-does-it-protect\">categories of people<\/a> the Code of Ethics protects are:<\/p>\n<p>1. Duties to Clients and Customers<br \/>\n2. Duties to the Public<br \/>\n3. Duties to Realtors<\/p>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<p class=\"ui-accordion-header\">\n\t\t\t\t\t\tWhat are some examples of Realtor ethics violations?\t\t\t\t\t\t<span class=\"ui-accordion-header-icon ui-icon ui-icon-triangle-1-s\"><\/span>\n\t\t\t\t\t<\/p>\n\t\t\t\t\t<div class=\"ui-accordion-content\">\n\t\t\t\t\t\t<p>Some examples of Realtor ethics violation are:<\/p>\n<p>1. Revealing private or confidential information related to real estate transactions.<br \/>\n2. Exaggeration of qualities or features of a property.<br \/>\n3. Collection of an extra commission from a client.<\/p>\n<p>Such <a href=\"#code-of-ethics-violation\">ethical violations<\/a> have serial consequences.<\/p>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<p class=\"ui-accordion-header\">\n\t\t\t\t\t\tHow many articles are in the Code of Ethics?\t\t\t\t\t\t<span class=\"ui-accordion-header-icon ui-icon ui-icon-triangle-1-s\"><\/span>\n\t\t\t\t\t<\/p>\n\t\t\t\t\t<div class=\"ui-accordion-content\">\n\t\t\t\t\t\t<p>The Realtor Code of Ethics has <a href=\"#articles\">17 articles<\/a>. These articles outline the ethical standards and practices that Realtors must follow.<\/p>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\n","protected":false},"excerpt":{"rendered":"<div class=\"new-excerpt\"><p class=\"small-desc\">Are you looking for a perfect and detailed explanation of NAR Code of Ethics? Houzeo brings you a comprehensive study on the same. Read...<\/p><\/div><div class=\"reading_date\"><span class=\"readtime\">6 mins read<\/span><span class=\"date\">Aug 06, 2024<\/span><\/div>","protected":false},"author":102,"featured_media":431935,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[46226],"tags":[35019,35025,35020,35023,35022,35021,35024],"class_list":["post-34881","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-seller","tag-code-of-ethics-real-estate","tag-national-assoc-of-realtors-code-of-ethics","tag-real-estate-agent-ethics-code","tag-real-estate-agent-selling-to-family","tag-real-estate-broker-code-of-ethics","tag-realtors-code-of-ethics","tag-sue-real-estate-agent"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>NAR\u2019s Code of Ethics (2024)- What Is It and Who Must Follow It? 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