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Who does the Code of Ethics protect?
The Code of Ethics protects the buying and selling public. T** F 8. The Code of Ethics is divided into three major sections, "Duties to Clients and Customers," "Duties to the Public," and "Duties to REALTORS."
Who is responsible for enforcing the code of ethics?
The enforcement of the Code is handled mainly by the local REALTORS® associations. Real estate is one of the few industries that have a Code of Ethics that is enforced. Many industry codes of ethics are aspirational in nature and are not enforced by the organization sponsoring the code.
Who is subject to the code of ethics?
A code of ethics is a set of principles of conduct within an organization that guide decision making and behavior. The purpose of the code is to provide members and other interested persons with guidelines for making ethical choices in the conduct of their work.
Is there a code of ethics for realtors?
Although there is not an official code for all real estate agents, many are members of the National Association of Realtors, which has an ethics code.
When was the code of ethics adopted?
The Code of Ethics was adopted in 1913 as a basis for license laws to establish a professional standard of conduct for practitioners in the real estate sales industry.
What are the three major sections of the code of ethics?
The Code of Ethics is divided into three major sections, "Duties to Clients and Customers," "Duties to the Public," and "Duties to REALTORS."
What is the purpose of the Code of Ethics Preamble?
The Preamble to the Code is the aspirational basis for the ethical concepts that REALTORS® believe in. Included are the core concepts of honesty, integrity, fairness, and moral conduct in business relations. Near the end of the Preamble, the timeless, universal principle of the Golden Rule is cited.
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