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Professional StandardsNew year means new changes to Code of Ethics
The National Association of REALTORS® (NAR) revised the Code of Ethics for 2010. Revisions include two new standards of practice, one case interpretation and six changes to existing articles or standards of practices.
New Standard of Practice 15-3 focuses on electronic communications. It obligates REALTORS® to “publish a clarification about or to remove statements made by others on electronic media the REALTOR® controls” when those statements include false or misleading information about competitors, competitors’ businesses and competitors’ business practices. This means when a REALTOR® learns false or misleading information is posted to his blog, Facebook wall or other social media site, he has the obligation to remove it or post a retraction/clarification of the statement.
The other new Standard of Practice (3-9) is designed to address the misuse of lock boxes, unauthorized access to a listed property and violation of other rules determined by the seller and listing broker. REALTORS® must remember that rules for property access must be followed and can often be found in the remarks section of the MLS.
New Case Interpretation 12-21 suggests that REALTORS® who change brokers need to be careful in how they advertise sold properties while affiliated with their prior broker. The case interpretation uses REALTOR® Q as an example. She advertises sold properties on her web site but when she switches brokers and continues to advertise the same sold properties on her site, she is found in violation of Article 12.
An updated copy of the new Code – with additions underlined – is available on the PAR web site, along with a summary of all changes and more detailed explanations.
All REALTORS® pledge to abide by the Code of Ethics. The code establishes a standard of conduct to protect consumers, the public and fellow REALTORS®.
Article co-authored by Hank Lerner, Esq., Director of Member & Legal Services at the Pennsylvania Association of REALTORS®.
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Meghan Tinkham is the Community Manager at the Pennsylvania Association of Realtors®. Follow her on Twitter @PAR_Meg. |
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Great question Dale, but there is no clear answer. The key is that any advertising must show a “true picture.” One could certainly argue that if Broker X is swallowed by Broker Y it would seem more justified to not have to identify that the properties were sold while with Broker X. But that’s the glory of the system – it will ultimately be up to a hearing panel to determine a complaint on the specific facts of that situation.
Ref case interpretation 12-21
What if the prior broker has since been acquired by the broker with whom the Realtor is now affiliated. Would the “new” broker now “own” those old listings and therefore the agent would not be in violation?
Nice job, Meghan