The Code of Ethics
REALTORS®’ Pledge of Performance and
Service Prepared by The NATIONAL ASSOCIATION OF REALTORS®
The NATIONAL ASSOCIATION OF REALTORS® adopted
the Code of Ethics in 1913, following the professions of medicine,
law, and engineering. REALTORS® are real estate professionals
who have chosen to join the National Association and abide
by its strict Code of Ethics. What does this mean to you It
means that any REALTOR® with whom you work has voluntarily
agreed to abide by a Code of Ethics, based on professionalism
and protection of the public.
REALTORS® are subject to disciplinary action
and sanctions if they violate the duties imposed by the Code
of Ethics. The Code of Ethics is a detailed document that spells
out the professional responsibilities of every REALTOR. Do
not hesitate to ask a REALTOR® for a copy of the Code,
including the Standards of Practice. The Code is your assurance
of dealing with a professional who has your best interests
in mind. The Code of Ethics consists of seventeen Articles
and related Standards of Practice.
The basic principles of the Code are summarized
below. Please note that the following is not a substitute for
the Code, but simply a general overview of the Code’s key principles.
For additional information about the Code of Ethics and its
enforcement, speak with a REALTOR® or contact the local
association of REALTORS® nearest you.
Duties to Clients and Customers
- Article 1:
REALTORS® protect and promote their clients’ interests
while treating all parties honestly.
- Article 2:
REALTORS® refrain from exaggeration, misrepresentation,
or concealment of pertinent facts related to property or
transactions.
- Article 3:
REALTORS® cooperate with other real estate professionals
to advance their clients’ best interests.
- Article 4:
When buying or selling on their own account or for their
families or firms, REALTORS® make their true position
or interest known.
- Article 5:
REALTORS® do not provide professional services where
they have any present or contemplated interest in property
without disclosing that interest to all affected parties.
- Article 6:
REALTORS® disclose any fee or financial benefit they
may receive from recommending related real estate products
or services.
- Article 7:
REALTORS® receive compensation from only one party, except
where they make full disclosure and receive informed consent
from their client.
- Article 8:
REALTORS® keep entrusted funds of clients and customers
in a separate escrow account.
- Article 9:
REALTORS® make sure that contract details are spelled
out in writing and that parties receive copies.
Duties to the Public
- Article 10:
REALTORS® give equal professional service to all clients
and customers irrespective of race, color, religion, sex,
handicap, familial status, or national origin.
- Article 11:
REALTORS® are knowledgeable and competent in the fields
of practice in which they engage or they get assistance from
a knowledgeable professional, or disclose any lack of expertise
to their client.
- Article 12:
REALTORS® paint a true picture in their advertising and
in other public representations.
- Article 13:
REALTORS® do not engage in the unauthorized practice
of law.
- Article 14:
REALTORS® willingly participate in ethics investigations
and enforcement actions.
Duties to REALTORS®
- Article 15
: REALTORS® make only truthful, objective comments about
other real estate professionals.
- Article 16
: Respect the exclusive representation or exclusive brokerage
relationship agreements that other REALTORS® have with
their clients.
- Article 17:
REALTORS® arbitrate financial disagreements with other
REALTORS® and with their clients.
