(Lesson 3) Fair housing and Ethical Practice (Unit # 21)

Question 1

The real estate act of 2000 and the general rules require that licensees.

Answer 1

fully adhere to the principles of equal housing opportunity. A licensee is prohibited from taking any listing or participating in any transaction in which the property owner seeks to discriminate based on race, color, ancestry, religion, national origin, sex, handicap, or familial status,

Question 2

define the fair housing act

Answer 2

The fair housing act prohibits discrimination based on:

• race
• color
• religion
• sex
• national origin
• disability
• familial status

Question 3

Define familial status

Answer 3

In effect, the familial status reference means the acts protections extend to families with children. all properties must be made available to families with children under the same terms and conditions as anyone else.

**unless a property qualifies as housing for older persons

Question 4

Define blockbusting

Answer 4

is the act of encouraging people to sell or rent their homes by claiming that the entry of a protected class of people into the neighborhood will have some sort of negative impact on property values. This is illegal

Question 5

Define steering

Answer 5

is the channeling of home seekers to particular neighborhoods. it also includes discouraging buyers or renters from considering certain areas

Question 6

Define redlining

Answer 6

is the practice of refusing to make mortgage loans or issue insurance policies in specific areas other than the applicants financial qualifications.

Question 7

intent and effect in discriminatory

Answer 7

owners and licensees must examine their own practices and policies to make sure they are not unintentionally appearing to engage in discriminatory actions

disparate treatment: is when one actions are specifically discriminatory. (actions seek to discriminate)

Disparate impact: is when effect of ones actions are discriminatory. (the effect of ones actions are discriminatory)

Question 8

Define code of ethnics

Answer 8

is a professional written system of standards.