Why Hire a REALTOR®
Not every real estate agent or broker is a REALTOR®. The National Association of Realtors® trademarks the term and the familiar Block R logo and can only be used by REALTOR® members through their local association of REALTORS®.
While all REALTORS® are state-issued licensees as agents or brokers, the major difference between a “real estate licensee” and a REALTOR® is that REALTORS® have taken an oath to subscribe to a stringent, enforceable Code of Ethics with Standards of Practice that promote the fair, ethical and honest treatment of all parties in a transaction. Non-member licensees have taken no such oath and are not morally bound to the ethical practices and principles set for in the REALTOR® Code.
For that extra measure of peace of mind, ensure the individual seeking to represent you is both a real estate licensee and a REALTOR®.
REALTORS® Pledge of Performance and Service
The National Association of REALTORS® adopted the Code of Ethics in 1913, following the professions of medicine, law and engineering.
REALTORS® are Real Estate Professionals who have chosen to join the National Association and abide by its strict Code of Ethics based on professionalism and protection of the public.
REALTORS® are subject to disciplinary action and sanctions if they violate the duties imposed by the Code of Ethics.
The Code of Ethics is a detailed document that spells out the professional responsibilities of every REALTOR®.
Do not hesitate to ask a REALTOR® for copy of the Code including the Standards of Practice. The Code is your assurance of dealing with a professional who has your best interests in mind.
The Code of Ethics Consists of 17 Articles and related Standards of Practice. The basic principles of the Code are summarized below.
Please note that the following is not a substitute for the Code but simply a general overview of the Code’s key principles. For Additional information about the Code of Ethics and its enforcement, speak with a REALTOR or contact the local association of REALTORS® nearest you.
Realtor® Duties to Clients and Customers
Article 1: REALTORS® protect and promote their clients’ interests while treating all parties honestly.
Article 2: REALTORS® refrain from exaggeration, misrepresentation, or concealment of pertinent facts related to properties or transactions.
Article 3: REALTORS® cooperate with other Real Estate professionals to advance their clients’ best interests.
Article 4: When buying or selling on their own account or for their families or firms, REALTORS® make their true position or interest known.
Article 5: REALTORS® do not provide professional services where they have any present or contemplated interest in property without disclosing that interest to all affected parties.
Article 6: REALTORS® disclose any fee or financial benefit they may receive from recommending real estate products or services.
Article 7: REALTORS® receive compensation from only one party, except where they make full disclosure and receive informed consent from their client.
Article 8: REALTORS® keep entrusted funds of clients and customers in a separate escrow account.
Article 9: REALTORS® make sure the contract details are spelled out in writing and that parties receive copies.
Article 10: REALTORS® give equal professional service to all clients and customers irrespective of race, color, religion, sex, handicap, familial status, or national origin.
Article 11: REALTORS® are knowledgeable and competent in the fields of practice in which they engage or they get assistance from a knowledgeable professional, or disclose any lack of expertise to their client.
Article 12: REALTORS® paint a true picture in their advertising and in other public representations.
Article 13: REALTORS® do not engage in unauthorized practice of law.
Article 14: REALTORS® willingly participate in ethics investigations and enforcement actions.
Duties to REALTORS®
Article 15: REALTORS® make only truthful, objective comments about other real estate professionals.
Article 16: Respect the exclusive brokerage relationship agreements that other REALTORS® have with their clients.
Article 17: REALTORS® arbitrate financial disagreements with other REALTORS® and with their clients.