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REALTORĀ® vs. Real Estate Agent
I am passionate about real estate and am a featured contributor in the National Association of REALTORSĀ® Little Blue Book of Rules to Live by for Realtors
Although they are oftentimes used synonymously, a REALTORĀ® is not the same as a real estate agent. A REALTORĀ® is a member of the National Association of Realtors a/k/ As a member of NAR, a REALTORĀ® must adhere to the Code of Ethics, which is strictly enforced and pertains to a clearly defined code of conduct for all NAR members. The industry makes this effort to regulate and govern all REALTORSĀ® as a valued service to all individuals seeking real estate services.
The Code of Ethics is a broad sweeping, comprehensive instrument created to raise the level of excellence of performance for its membership. Here are some of the pledges a REALTORĀ® has agreed to adhere to in the provision of exemplary services
- Pledge to put the interests of buyers and sellers ahead of their own and to treat all parties honestly;
- Shall refrain from exaggerating, misrepresenting or concealing material facts; and is obligated to investigate and disclose when situations reasonably warrant;
- Shall cooperate with other when it is in the best interests of the client to do so;
- Have a duty to disclose if they represent family members who own or are about to buy real estate, or if they themselves are a principal in a real estate transaction, that they are licensed to sell real estate;
- Shall not provide professional services in a transaction where the agent has a present or contemplated interest without disclosing that interest;
- Shall not collect any commissions without the seller's knowledge nor accept fees from a third-party without the seller's express consent;
- Shall refuse fees from more than one party without all parties' informed consent; - Shall not co-mingle client funds with their own;
- Shall attempt to ensure that all written documents are easy to understand and will give everybody a copy of what they sign;
- Shall not discriminate in any fashion for any reason on the basis of race, color, religion, sex, handicap, familial status, or national origin;
- Expects agents to be competent, to conform to standards of practice and to refuse to provide services for which they are unqualified;
- Must engage in truth in advertising;
- Shall not practice law unless they are a lawyer;
- Shall cooperate if charges are brought against them and present all evidence requested;
- bad mouth competition and agree not to file unfounded ethics complaints;
- Shall not solicit another REALTOR'SĀ® client nor interfere in a contractual relationship;
- Shall submit to arbitration to settle matters and not seek legal remedies in the judicial system;
So, when you see the REALTORĀ® logo on a real estate agentās business card, ad or sign rest-assured it is not merely a random association, it is an entity established in 1908 with a long-standing reputation for raising the bar of excellence for all who make up its membership.
Copyright: 2012 Valerie Anne Martinetti