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NAR’S 1.2 Million Realtors® Live By The Code
WASHINGTON (March 6, 2006) – For nearly 100 years, Realtors® have subscribed to
one of the oldest codes of ethics for trade groups in the country. Today, with
the premiere of advertising spots entitled, “Someone You Can Trust,” the
National Association of Realtors® explains how its Realtor members’ adherence to
that code serves and protects the public.
In many ways, consumers today are just like those at the turn of the last
century – they deserve and demand honesty, integrity and commitment from the
professionals who serve them. Today’s home buyers and sellers, however, confront
real estate realities never envisioned 100 years ago, with disclosure
requirements, environmental regulations, and an expanding universe of mortgage
and financing options. More than ever, home buyers and sellers need to know that
their real estate professional is someone they can trust.
“Few, if any, other professional organizations in the nation have put in place
such rigorous ethics training requirements for their members,” said Thomas M.
Stevens, 2006 NAR president and senior vice president of NRT Inc., from Vienna,
Va. “Realtors® are part of a unique profession that requires both competition
and collaboration. By subscribing to the Code of Ethics, NAR’s Realtor® members
ensure that all home buyers and sellers, with or without professional
representation, are treated honestly.”
All Realtors® must know and comply with the Code of Ethics, which goes beyond
state licensing requirements. The Code predates real estate license laws, and
when these laws were established, many were based on the standards set in the
Realtor® Code of Ethics. Realtors® must complete ethics training by taking at
least 2.5 hours of instruction at least once every four years to retain
membership in NAR. A Realtor® is subject to disciplinary action if a local
association of Realtors® finds him or her in violation of the Code of Ethics.
Real estate professionals who are not Realtors® do not subscribe to this Code.
Consumers can learn more about NAR’s Code of Ethics by visiting
www.realtor.org/codeofethics, or by asking a Realtor® for a copy of the
Code.
“Buying or selling a home involves many decisions; choosing a Realtor® to
protect your interests is the best one you can make,” said Stevens. “Realtors®
help home buyers and sellers save time and money, and add value to the real
estate transaction. A licensee has passed an exam; Realtors are real
professionals.”
The National Association of Realtors®, “The Voice for Real Estate,” is America’s
largest trade association, representing more than 1.2 million members involved
in all aspects of the residential and commercial real estate industries.
Stephanie Singer
3/6/2006
(www.realtor.org)
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