Level eight:
Article 3 of NAR?
Cooperation with brokers (cooperate with brokers unless not in clients best interest)
The National Association of REALTORS® Code of Ethics consists of:
Preamble and 17 articles
Article 16 or NAR?
Respect existing agreements (don't contact someone who is already in an agency relationship) It is a violation to influence the termination of any existing agreements a client has with another broker or agent.
what is discriminatory practices?
The Canons of Professional Ethics on Discriminatory Practices outline the discriminatory actions that should never be committed. They are: race; color; religion; sex; national origin; ANCESTRY*; familial status; or disability.
Canons of Professional Ethics and Conduct:
The Texas Real Estate Commission's code of ethics for real estate license holders; contained in Chapter 531 of the Texas Administrative Code These are not laws, but official rules for the conduct of license holders in the practice of real estate.
what fidelity?
placing the client above the agent and protecting their interests treat all parties honestly.
according to the Canons of Professional Ethics and Conduct, the primary duty of the real estate agent is to?
represent the interests of the agent's client.
what are the six Canons of Professional Ethics and Conduct as contained in Chapter 531 of the Texas Administrative Code. Let's review:
rules for the conduct of license holders in the practice of real estate.
how should the Consumer Protection Notice TREC No. CN 1-2 be delivered?
According to the Canons of Professional Ethics, every broker must display the Consumer Protection Notice TREC No. CN 1-2 in a readily noticeable location in each place of business the broker maintains. The homepage of the business website must also have a link to the Notice in at least 10-point font.
REALTOR®:
A registered trademark designed for the sole use of identifying the members of a local board who are affiliated with the National Association of REALTORS®
what is consumer information?
(a) The Commission adopts by reference Consumer Protection Notice TREC No. CN 1-2. (b) Each active real estate broker shall provide the notice adopted under subsection (a) by: (1) displaying it in a readily noticeable location in each place of business the broker maintains; and (2) providing a link to it in readily noticeable place on the homepage of each business website, labeled:(A) "Texas Real Estate Commission Consumer Protection Notice", in at least 10 point font; or(B) "TREC Consumer Protection Notice," in at least 12 point font.
The Code of Ethics consists of a Preamble (an introduction) and 17 Articles. These articles cover three main categories of duties:
- The first nine Articles are Duties to Clients and Customers - Articles 10 through 14 are Duties to the Public - Articles 15, 16, 17 are Duties to REALTORS®
You'll note that you have two font sizes you can use with your IABS Notice links online:
1. 10-point if you spell out "Texas Real Estate Commission" 2. 12-point if you use the abbreviated name "TREC"
The Canons of Professional Ethics and Conduct require that the license holder provide consumers with two forms.
1. Consumer Protection Notice TREC No. CN 1-2 2. Information About Brokerage Services
according to the Canons of professional ethics and conduct, how does a licensed agent represent the interests of the client?
1. Fidelity 2. Integrity 3. Competency 4. Consumer Information 5. Discriminatory Practices 6. Information About Brokerage Services
When was the NAR code of ethics adopted?
1913
Some of the Articles are further clarified by Standards of Practice. What is it?
A Standard of Practice gives an example of how a particular Article has been applied
Code of Ethics:
A document created by the National Association of REALTORS® that their members pledge to abide by
what is information about brokerage services?
Each active real estate broker and sales agent shall provide: a link to a completed IABS Notice in a readily noticeable place on the homepage of each business website, labeled: (A) "Texas Real Estate Commission Information About Brokerage Services", in at least 10 point font; or (B) "TREC Information About Brokerage Services," in at least 12 point font; and the completed IABS Notice at the first substantive communication as required under §1101.558, Texas Occupations Code. (c) For purposes of §1101.558, Texas Occupations Code, the completed IABS Notice can be provided: 1. by personal delivery by the broker or sales agent; 2. by first class mail or overnight common carrier delivery service; 3. in the body of an email; or 4. as an attachment to an email, or a link within the body of an email, with a specific reference to the IABS Notice in the body of the email.
Article 12 of NAR?
Issues with advertisements (present accurate ads) when a REALTOR® writes ad copy, they are required to put the word REALTOR® in the ad somewhere.
what is competency?
It is the obligation of a real estate agent to be knowledgeable as a real estate brokerage practitioner. The agent should: (1) be informed on market conditions affecting the real estate business and pledged to continuing education in the intricacies involved in marketing real estate for others; (2) be informed on national, state, and local issues and developments in the real estate industry; and (3) exercise judgment and skill in the performance of the work.
how should the IABS be delivered?
ccording to the Canons of Professional Ethics and Conduct, the Information About Brokerage Services, or IABS Notice must be provided to consumers by brokers and agents using any of the following methods: 1. By personal delivery by the broker or sales agent 2. By first class mail or overnight common carrier delivery service 3. In the body of an email 4. As an attachment to an email, or a link within the body of an email (NOT in the email signature), with a specific reference to the IABS Notice in the body of the email
What three qualities best define a Realtor®? According to the the Code of Ethics' Preamble:
competency, fairness, and high integrity.
There are options for anyone who wants to check the license status of a real estate professional or file a complaint.
consumer information
what is integrity?
don't lie, don't lie by omission, and don't knowingly misrepresent any property or situation.