to download the a copy of the Code of Ethics and Standards of Practice
While this Code of Ethics by its Articles establishes obligations that may be higher than those mandated by law, in any instance where the Code of Ethics and the law conflict, the obligations of the law must take precedence.
In filing a charge of an alleged violation of the Code of Ethics by a MEMBER, the charge must read as an alleged violation of one or more Articles of the Code. Standards of Practice may be cited in support of the charge.
The Standards of Practice serve to clarify the ethical obligations imposed by the various Articles and supplement, and do not substitute for the requisite interpretations of the Articles.
When representing a buyer, seller, landlord, tenant, or other client as an agent, MEMBERS pledge themselves to protect and promote the interests of their client. This obligation to the client is primary, but it does not relieve MEMBERS of their obligation to treat all parties honestly.
- Standard of Practice 1-1 MEMBERS, when acting as principals in a real estate transaction, remain obligated by the duties imposed by the Code of Ethics.
- Standard of Practice 1-2 The duties imposed by the Code of Ethics encompass all real estate-related activities and transactions whether conducted in person, electronically, or through any other means.
- Standard of Practice 1-3 MEMBERS, in attempting to secure a listing, shall not deliberately mislead the owner as to market value.
- Standard of Practice 1-4 MEMBERS, when seeking to become a buyer/tenant representative, shall not mislead buyers or tenants as to savings or other benefits that might be realized through use of the MEMBER’s services.
- Standard of Practice 1-5 MEMBERS may represent the seller/landlord and buyer/tenant in the same transaction only after full disclosure to and with informed consent of both parties.
- Standard of Practice 1-6 MEMBERS shall submit offers and counter-offers objectively and as quickly as possible.
- Standard of Practice 1-7 When acting as listing dealers, MEMBERS shall continue to submit to the seller/landlord all offers and counter-offers until sale or execution of a lease unless the seller/landlord has waived this obligation in writing. MEMBERS shall not be obligated to continue to market the property after an offer has been accepted by the seller/landlord. MEMBERS shall recommend that sellers/landlords obtain the advice of legal counsel prior to acceptance of a subsequent offer except where the acceptance is contingent on the termination of the pre-existing purchase contract or lease.
- Standard of Practice 1-8 MEMBERS, acting as agents or dealers of buyers/tenants, shall submit to buyers/tenants all offers and counter-offers until
acceptance but have no obligation to continue to show properties to their clients after an offer has been accepted unless otherwise agreed in writing. MEMBERS, acting as agents or dealers of buyers/tenants, shall recommend that buyers/tenants obtain the advice of legal counsel if there is a question as to whether a pre-existing contract has been terminated.