The Code of Ethics Cycle
As members of the National Association of REALTORS®, we all understand and commit to a strict code of ethics. It’s one of the foundations of NAR membership, as it has been for more than a century now.
We know, of course, that a strict adherence to this code is required in order to retain membership in good standing. It’s not debatable or negotiable – it’s one of the long-time tenets of NAR membership.
But it’s also time for a gentle reminder, as the current Code of Ethics Training Cycle is about to come to a close.
The current four-year cycle ends on Dec. 31 this year, so if you haven’t yet completed your training, now is certainly the time to do so.
NAR recently reminded all of its members that failure to complete training ON TIME will lead to suspension of your membership for January and February of next year, with termination of your membership beginning on March 1.
Please don’t cut this too close to the deadline, should something come up at the last minute. Continued membership and good standing in NAR is an essential element of your business, so please take this very seriously.
National bylaws require that all REALTORS® complete ethics training of not less than two-and-a-half hours of instructional time within four-year cycles. The training must meet specific learning objectives and criteria established by the National Association of REALTORS®.
Training may be completed through SCAOR or through other methods, such as home study, correspondence, classroom courses or online courses.
We must all abide by these requirements and commit to these time-honored principles, a few of which include:
- Be honest with all parties in the transaction. This is not just with the client, but also with the other REALTOR® and his or her clients.
- Put the client’s interests ahead of your own, at all times. This service is provided regardless of the compensation available.
- Disclose all pertinent facts regarding the property and the transaction to both buyer and seller. If a REALTOR® believes information provided by a seller is questionable, he or she is obligated to investigate. For example, if a home seller asks his or her REALTOR® to conceal the fact that the roof leaks, the REALTOR® is not permitted to comply.
- Be truthful in all communications with the public. This ensures that members of the public understand the REALTOR’S® experience and can make an informed decision when choosing real estate representation.
To learn more about the NAR’s Code of Ethics, visit www.realtor.org/codeofethics.
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