What Is The Realtor Code Of Ethics

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Realtors subscribe to a strict code of ethics. Let’s take a look at what that means for their clients:

  • Realtors pledge to protect and promote the interests of their clients when representing them as agents.
  • Realtors avoid exaggeration and misrepresentation and don’t conceal anything. Any pertinent facts about the property or the transaction that realtors cooperate with other brokers, except when cooperation is not in their clients’ best interests.
  • They don’t present offers from themselves or from any member of their immediate family, firm, or any entity that they own an interest in without making their true position known to the owner or the owner’s agent or broker.
  • They don’t accept any commission, rebate, or compensation from more than one party, even if permitted by law, without disclosure to all the parties and the informed consent of their client, with respect to funds that come into a realtor’s possession in trust for the other, such as escrow trust funds, client funds, and other like items.
  • Realtors store this money in a special account at an appropriate financial institution, separate from their own funds, for the protection of all parties.
  • Realtors assure you, whenever possible, that all agreements are in writing and in clear and understandable language, expressing the specific terms, conditions, obligations, and commitments of the parties.

Read Also: What Is Prepaid Interest

The term “realtor” has come to connote competency, fairness, and high integrity as a result of people adhering to ideals of moral conduct in all of their business relations. 

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