It’s a Myth — All licensed real estate agents are NOT the same!
Only real estate professionals who are members of the National Association of Realtors® (NAR) may call themselves Realtors®. All Realtors® subscribe to NAR’s strict Code of Ethics, based on professionalism and protection of the public.
Realtors® not only help make the dream of homeownership a reality, they also help build a better world through community programs, including the Smart Growth and Housing Opportunity programs.
Look for the Realtor® logo when choosing your real estate agent.
When You Use a Realtor® It’s All About YOU
For the Seller
A Realtor® …
- Accesses current market information, prices, financing, terms and conditions of competing properties.
- Ensures your property is marketed to other real estate agents and the public.
- Knows when, where and how to best market your property.
- Works with you to objectively evaluate every buyer’s proposal without compromising your marketing position.
For the Buyer
A Realtor® …
- Accesses multiple resources to assist in your search for the right home.
- Provides objective information about each property.
- Helps in negotiations.
- Works with you to determine your buying power.
- Guides you during the property evaluation.
- Stands with you through the closing process to ensure a smooth transaction.
It’s a Commitment — The Realtor® Code of Ethics
The NAR’s Code of Ethics ensures honest and ethical treatment in all transactions. Only Realtors® subscribe to this code and are held accountable.
Some of the basic principles of the Code of Ethics follow:
- Protect and promote your client’s interests, but be honest with all parties.
- Avoid exaggeration, misrepresentation, and concealment of pertinent facts. Do not reveal facts that are confidential under the scope of your agency relationship.
- Disclose present or contemplated interest in any property to all parties.
- Avoid side deals without your client’s informed consent.
- Accept compensation from only one party except with full disclosure and informed consent.
- Keep funds of clients/customers in escrow.
- Assure, whenever possible, that transactional deals are in writing.
- Be knowledgeable and competent in the fields of practice in which you engage.
- Obtain assistance or disclose lack of experience, if necessary.
- Do not engage in the unauthorized practice of law.
The text of the Code of Ethics and Standards of Practice, along with audio clips and downloadable files, can be accessed here. Translations are also available in Chinese, Korean, Spanish, Tagalog, and Vietnamese. Previous editions of the Code of Ethics from 1913 through 2015 are also available by clicking here.