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CODE OF ETHICS AND STANDARDS OF PRACTICE OF THE NATIONAL ASSOCIATION OF REALTORS®

EFFECTIVE JANUARY 1, 2018

The Code of Ethics is a promise to the public that defines the professionalism and service to be expected from a member of the National Association of REALTORS®


Dispute Resolution If you believe that a Howard County Association of REALTOR® (HCAR) member acted unethically in a real estate transaction, you may address the issue through HCAR.
For comprehensive information regarding Ethics Complaints, Ombudsman, Arbitration, and Mediation services please visit Maryland REALTORS® Legal page.

Consumer Complaints If you wish to file an ethics complaint with HCAR against a member, you must complete and return the Ethics Complaint Form, citing the article(s) of the code of ethics you allege were violated and attach a written statement of facts. Complaints must be filed within 180 days after the facts were known. Once your complaint has been received, it will be forwarded to the Grievance Committee for its review and determination as to whether the matter warrants a formal hearing. You will be notified of the Grievance Committee’s action, and if the committee finds a hearing is warranted, steps will be taken to schedule the hearing. Should you have any questions, please contact Rita Williams, Administrator at (410) 410-715-1401.

Before You File An Ethics Complaint

Ethics Complaint Form

 

Recent Changes to the Code of Ethics

 

Below, you will find the most recent updates to the Code of Ethics, but please take the time to review the entire REALTOR®Code of Ethics, or view each update individually by clicking the paragraph titles below.

Revised and added text is noted in italics. Strikeouts indicate deletions.

2016 Changes to the Code of Ethics

Revised Standard of Practice 12-5
REALTORS® shall not advertise nor permit any person employed by or affiliated with them to advertise real estate services or listed property in any medium (e.g., electronically, print, radio, television, etc.) without disclosing the name of that REALTOR®'s firm in a reasonable and readily apparent manner. This Standard of Practice acknowledges that disclosing the name of the firm may not be practical in electronic displays of limited information (e.g. "thumbnails", text messages, "tweets", etc.). Such displays are exempt from the disclosure requirement established in the Standard of Practice, but only when linked manner either in the advertisement or in electronic advertising via a link to a display that includes with all required disclosures. (Adopted 11/86, Amended 1/11 Amended 1/16)

 

There were no 2015 changes to the Code of Ethics.
 

2014 Changes to the Code of Ethics

Revised Standard of Practice 3-2
To be effective, a Any change in compensation offered for cooperative services must be communicated to the other REALTOR® prior to the time that REALTOR® submits an offer to purchase/lease the property. After a REALTOR® has submitted an offer to purchase or lease property, the listing broker may not attempt to unilaterally modify the offered compensation with respect to that cooperative transaction. (Amended 1/10) (Amended 1/14)

Revised Article 10
REALTORS® shall not deny equal professional services to any person for reasons of race, color, religion, sex, handicap, familial status, national origin, or sexual orientation, or gender identity. REALTORS® shall not be parties to any plan or agreement to discriminate against a person or persons on the basis of race, color, religion, sex, handicap, familial status, national origin, or sexual orientation, or gender identity. (Amended 1/11) (Amended 1/14)

REALTORS®, in their real estate employment practices, shall not discriminate against any person or persons on the basis of race, color, religion, sex, handicap, familial status, national origin, or sexual orientation, or gender identity. (Amended 1/11)(Amended 1/14)

Revised Standard of Practice 10-3
REALTORS® shall not print, display or circulate any statement or advertisement with respect to selling or renting of a property that indicates any preference, limitations or discrimination based on race, color, religion, sex, handicap, familial status, national origin, or sexual orientation, or gender identity. (Adopted 1/94, Renumbered 1/05 and 1/06, Amended 1/11 Amended 1/14)

Revised Standard of Practice 11-1
When REALTORS® prepare opinions of real property value or price they must:

  1. be knowledgeable about the type of property being valued,
  2. have access to the information and resources necessary to formulate an accurate opinion, and
  3. be familiar with the area where the subject property is located

    unless lack of any of these is disclosed to the party requesting the opinion in advance. When an opinion of value or price is prepared, other than in pursuit of a listing or to assist a potential purchaser in formulating a purchase offer, such opinions the opinion shall include the following unless the party requesting the opinion requires a specific type of report or different data set:

    1. identification of the subject property
    2. date prepared
    3. defined value or price
    4. limiting conditions, including statements of purpose(s) and intended user(s)
    5. any present or contemplated interest, including the possibility of representing the seller/landlord or buyers/tenants
    6. basis for the opinion, including applicable market data
    7. if the opinion is not an appraisal, a statement to that effect (Amended 1/10)
    8. disclosure of whether and when a physical inspection of the property's exterior was conducted
    9. disclosure of whether and when a physical inspection of the property's interior was conducted
    10. disclosure of whether the REALTOR® has any conflicts of interest (Amended 1/14)

 

 

 

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