Real Estate Ethics
Every two years, Arizona Realtors must take the Ethics class which covers the Code of Ethics and Standards of Practice of the National Association of Realtors. You can find the Code on my website at http://www.terrybishop.com/tools.html with links in both Spanish and English.
The Code of Ethics has three main segments: Duties to Clients and Customers; Duties to the Public; and Duties to other agents. It is the basis by which Realtors must conduct business and the Code of Ethics and Standards of Practice are the guidelines used during mediation and arbitration of a dispute.
Answers to most problems which arise in a real estate transaction can be found in the Code and in the Standards of Practice. It was first adopted in 1913 and has been subsequently amended almost annually since 1986.
The Code covers everything from disputes about compensation to the difference between a client and a customer…and who is owed fiduciary responsiblity.
For example, in today’s market, when sellers are still trying to get top dollar for their property, “Realtors, in attempting to secure a listing, shall not deliberately mislead the owner as to market value.” Despite what the seller may want to hear, the Realtor has an obligation to tell the seller in a forthright manner whether a property may be priced too high. (Article 1, Standard of Practice 1-3)
There are 17 articles in the Code and within each Article are standards of practice. The Code of Ethics and Standards of Practice provide the basis for much real estate law. Although only eight pages, this document is chocked full of answers to questions which arise on a daily basis with real estate transactions.
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January 3rd, 2011 at 8:56 am
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March 29th, 2010 at 1:11 pm
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January 3rd, 2011 at 8:55 am
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May 2nd, 2010 at 4:19 am
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January 3rd, 2011 at 8:54 am
Nice words, I appreciate them, and I am blogging once again.
May 11th, 2010 at 8:24 pm
Found your site in BlogSearch
January 3rd, 2011 at 8:54 am
I am blogging again…thank you I’m glad you enjoy the site.
May 19th, 2010 at 9:46 pm
Real Estate is one of the most lucrative business to engage with. i also like to invest on it..,*
January 3rd, 2011 at 8:54 am
Make sure to do your homework and use an Agent who has the CRS designation – and make sure that agent understands what you want in property.
July 28th, 2010 at 2:31 am
Real Estate is still the best investment you can get, land properties always increase in price as time goes by.*:-
January 3rd, 2011 at 8:53 am
Land is a fixed resource and buying correctly will appreciate over the years, but don’t look for an immediate return. The real estate REITS last
year saw a 22% rise.
December 21st, 2010 at 11:15 am
real estate is the most lucrative business, any man can make a fortune in real estate business “;
January 3rd, 2011 at 8:48 am
People often think they can make a fortune, but it requires hard work whether you are an Agent, a Broker, or an investor.
January 3rd, 2011 at 8:52 am
Now with all the short sales and foreclosures, there are good “deals” to be had, but still one must be careful and do his/her homework!
July 1st, 2012 at 7:17 am
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December 13th, 2012 at 9:58 am
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January 10th, 2014 at 7:06 am
Nice text
August 29th, 2014 at 10:10 am
Greetings! I know this is kinda off topic however , I’d figured I’d ask.
Would you be interested in exchanging links or maybe guest authoring a blog article or vice-versa?
My website goes over a lot of the same topics as yours
and I feel we could greatly benefit from each other. If
you are interested feel free to send me an e-mail. I look forward
to hearing from you! Terrific blog by the way!
my page; Gertrude