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What the REALTORS® Code of Ethics Means to You
Many people don’t realize that REALTORS® voluntarily agree to abide by a Code of Ethics. We do this so that you, as a buyer or seller of real estate, know that you can trust us. The Orlando Regional REALTOR® Association put together a great article on this, which we’ve paraphrased. Below.
If a REALTOR® represents you, whether you are buying or selling a home, you can count on that REALTOR® to:
- Be honest with all parties in the transaction – not just with you, as our client, but also with the other real estate practitioner and his or her clients.
This means, for example, that a REALTOR® representing a buyer with a spotty credit history can't be dishonest with sellers about it. At the same time, REALTORS® can help that buyer collect and assemble information, such as credit reports and audited tax returns, to demonstrate that the buyer has addressed the problem and improved their situation.
- Put your interests ahead of our own interests, at all times.
A REALTOR® makes every effort to understand your housing needs, thoroughly research available inventory, and share all relevant information with you so that you can make an informed decision. This service is provided regardless of the compensation.
- Disclose all pertinent facts regarding the property and the transaction to both the buyer and the seller.
If a REALTOR® believes information provided by a seller is questionable, we’re obligated to investigate. REALTORS® should recommend that you consult your own experts, like home inspectors, to address any concerns. For example, if a home seller asks his or her REALTOR® to conceal the fact that the roof leaks, the REALTOR® cannot; and if the seller insists, the REALTOR® should end the business relationship.
- Be truthful in all communications with the public.
What this means, among other things, is that when REALTORS® publish newsletters, create Websites, or place advertisements, we must be careful not to represent other real estate professionals' work as our own. If recently sold or listed properties in the community are publicized, it must be clear whether we were actually involved in the transaction, or whether that data came from the local multiple listing service or another source. This ensures that you understand our experience and can make an informed decision when choosing your real estate representation.
It’s important to us, as REALTORS® to be the most professional group of experts we can be. We’re here to help you navigate one of the most significant financial transactions you’ll make in life – buying and selling real estate. And we’re dedicated to making your transaction a smooth one.
If you have questions on what this means, give us a call! We’re here for you.
You can read the original article here: https://www.orlandorealtors.org/page/CodeOfEthicsConsumer
A fully copy of the REALTOR® Code of Ethics is available here:
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