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Facts about the Realtor Code of Ethics
- The Realtor Code of Ethics is ONLY for realtors. It is not for the seller or the buyer. The buyer and seller do not have any ethical rules to follow and they can do or say whatever they want.
- The Realtor Code of Ethics is the same for every realtor in every state. The guidelines come from NAR ( the National Association of Realtors) and does not vary with each realtor board or what any agents office policy is.
The Code of Ethics is rarely understood
- The Code of Ethics is often misunderstood and misinterpreted by even those that sit on the ethics and professional standards committees.
- A Real estate license cannot be taken away for violating the Realtor Code of Ethics. License removal has to be at the state level for an infraction of the law.
- Real Estate LAW and the code of ETHICS are two separate things. They are not the same and not interchangeable.
The reality of the real estate industry
- Many Real Estate Agents violate ethics daily.
- Most Realtors will tolerate ethics violations and never file an ethics complaint.
- Many Realtors would not know what complaint to file as some have never read the code of ethics.
- Filing a complaint is a lot of work with a 50/50 outcome, regardless of how solid or weak your case is.
- The penalty for a Realtor Code of Ethics Violation is either a fine or classes…usually miniscule.
Many brokers focus on hiring agents to fill the desks with salespeople that can “sell”. That seems to be the main criteria…how much commission money can that person bring in? The agents ethics or character is secondary.
Training new agents tends to be viewed as a chore and not an opportunity to shape quality agents. Unfortunately, many people get licensed because they think it is quick or easy money. It is not. Being a good Real Estate Agent takes effort and a desire to do the right thing.
Buyers Broker of Florida always strives to provide quality and ethical service. Call us 407-539-1053.
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