Code of Ethics

NATIONAL ASSOCIATION OF REALTORS®

What does it mean for consumers?

The NATIONAL ASSOCIATION OF REALTORS® adopted the Code of Ethics in 1913, following the professions of medicine, law, and engineering.

The REALTOR® Code of Ethics consists of seventeen Articles and related Standards of Practice. The basic principles of the Code are summarized below. Please remember that this summary is not a substitute for the Code, but simply a general overview of the Code’s key principles.

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 property 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 related 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 that contract details are spelled out in writing and that parties receive copies.

Duties to the Public

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 the 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 representation or exclusive brokerage relationship agreements that other REALTORS® have with their clients.

Article 17:  REALTORS® arbitrate financial disagreements with other REALTORS and with their clients.