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Code of ethics

Code of ethics. CODE OF ETHICS. “Rules of Conduct” Guidelines. Code of Ethics MOST COMMON COMPLAINTS. Article 1 Article 2 Article 9 Article 11 Article 12 Article 16. CODE OF ETHICS. Complaint Process Against Realtors ® Made by another agent Made by someone from the public

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Code of ethics

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  1. Code of ethics
  2. CODE OF ETHICS “Rules of Conduct” Guidelines
  3. Code of Ethics MOST COMMON COMPLAINTS Article 1 Article 2 Article 9 Article 11 Article 12 Article 16
  4. CODE OF ETHICS Complaint Process Against Realtors® Made by another agent Made by someone from the public Professional standards administrator Response from Realtor® Grievance Committee
  5. Code of Ethics GRIEVANCE COMMITTEE Operates like a grand jury Comprises experienced Realtors® Meets monthly Reviews complaints Determines whether ahearing is warranted
  6. GRIEVANCE COMMITTEE OPTIONS Dismiss a complaint Forward to Professional Standards Committee for a thorough hearing
  7. Code of Ethics PROFESSIONAL STANDARDS COMMITTEE Experienced Realtors® in good standing Meets only when called upon Complaints heard by a panel of three experienced Realtors®
  8. Code of Ethics PROFESSIONAL STANDARDS PANEL Automatic $500 administrative-processing fee Sanctions
  9. Code of Ethics ARTICLE 1 1 Thou shalt be honest. Thou shalt protect and promote. Thou shalt treat all parties honestly.2010 version
  10. CODE OF ETHICS Discussion Questions You are at a listing appointment. The seller tells you that the house does not have a solid foundation and will continue to settle. There are no obvious defects and he doesn’t want you to tell anyone about it. What do you do?
  11. CODE OF ETHICS Discussion Questions You are the listing agent and you have received multiple offers. One is from an agent in your firm and the other is from an agent in another firm. What, if anything, are you required to disclose? Which of the following answers is correct?
  12. Multiple Choice (A, B, C or D) Disclose the second offer to both agents. Only tell the second agent that there is another offer. Do not tell either agent about the other offer. With your seller’s consent, tell the agent that there is another offer and if asked, disclose whether the offer came from someone in your firm or from a cooperating broker.
  13. Code of Ethics ARTICLE 2 2 Thou shalt not exaggerate,misrepresent or concealpertinent facts. Thou shalt not reveal facts thatare confidential under the scopeof an agency relationship. 2010 Version
  14. CODE OF ETHICS Discussion Questions You have a new listing. Your sellers are getting a divorce and have been ordered by the court to sell their house. Is it appropriate to share these facts when you talk about your new listing at your weekly sales meeting?
  15. CODE OF ETHICS Discussion Questions While talking with your sellers, they sheepishly divulge the fact that they have missed three mortgage payments and have received a foreclosure notice. They do not want to tell anyone because they think buyers might not offer as much for the house. What do you do?
  16. Code of Ethics ARTICLE 9 9 Thou shalt assure that alltransactional details and agency agreements are in writing andthat everyone gets a copy. 2010 version
  17. CODE OF ETHICS Discussion Questions Many agents negotiate written offers verbally before getting signatures. While one agent is out of town, he or she negotiates an offer with another agent. Two days pass before the agent is available to get signatures and/or initials. After verbally accepting the offer, the seller receives a second offer and accepts it. Did the agents handle this properly? What else could they have done?
  18. Code of Ethics ARTICLE 11 11 Thou shalt know what thou art doing and thou shalt stick to what thou knowest. Thou shalt engage competent assistance when necessary.2010 version
  19. CODE OF ETHICS Discussion Questions You normally list and sell residential real estate in Charlotte. Your cousin asks you to show him vacation homes in the mountains. What should you do?
  20. CODE OF ETHICS Discussion Questions Your cousin now decides to retire and sell his business in Charlotte. He wants you to list his commercial building for sale. What should you do?
  21. Code of Ethics ARTICLE 12 12 Thou shalt present a true picture in allyour advertising and other public representations. 2010 version
  22. CODE OF ETHICS Discussion Questions You are farming a neighborhood and want to hand out a list of properties that have sold during the past year. How would you do that?
  23. Code of Ethics ARTICLE 16 16 Thou shalt respect theexclusive agencyrelationships of otherRealtors®. 2010 version
  24. CODE OF ETHICS Discussion Questions You are at a party and the subject of real estate comes up. Someone mentions that his house is listed with another agent, but he is not happy with his agent. He starts asking your opinion about what his agent should be doing to get his house sold. What should you say?
  25. CODE OF ETHICS Discussion Questions What if another agent’s client contacts you and says they want to get out of their listing agreement and list with you?
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