Realtors, real estate agents and brokers are bound by the Code of Ethics and Standards of Practice of the National Association of Realtors. This document is updated yearly at an annual convention. All Realtors are bound by this code, and its rules and regulations apply to how Realtors relate to their clients, to the general public and to each other.
When Realtors pledge to uphold the code of ethics, they allow it to guide their practices and behavior.
In this, the first of a three-part series, we will examine how the code of ethics applies to the way Realtors treat their clients.
The vast majority of the code applies to how Realtors must treat their clients.
When you hire a Realtor to assist in buying or sell a home, you can be assured he or she will:
- Submit all offers and counter offers as quickly as possible.
- Present all offers to the seller until closing.
- Recommend a client seek legal advice for questions about leases and contracts.
- Keep confidential all information unless required by law to disclose it.
- Be honest about commissions and fees.
You can also be assured, he or she will not:
- Misrepresent the market value of a property or his or her services.
- Misrepresent a property’s condition.
- Represent both the buyer and the seller without the consent of both parties.
- Enter a seller’s home without the seller’s knowledge and permission.
- Buy/sell his or her property or those of family members without making this known upfront.
- Recommend products for which he or she will receive a commission unless disclosing the information first.
In addition, Realtors are encouraged to stay informed of trends and news in the real-estate industry as well as locally. This information can then be used to educate clients to make the right buying decisions.
Uncertain about your agent? If you are in the State of Florida you can look up any licensee here. You’ll also find useful information, such as how to file a complaint against a Realtor and see if they have ever had any complaints filed against them.
In part two, we’ll look at how the code of ethics applies to how Realtors interact with the public. You may sign up to receive The Tampa Real Estate Insider’s next blog post here!
See Also: How to find the BEST Realtors in Tampa
