NAR Code of Ethics Flashcards
Can a realtor solicit business from a person with a real estate sign in their yard or a person that is listed with the MLS?
Depends, why?
If they don’t tell you the date then you can, but if they tell you the date you cant.
Can a realtor place a sign in the yard of the customer at any time?
No must have permission
Can a realtor send out mass mailings to the public?
Yes
Does a homeowner have to use a broker on a real estate deal if they have used that broker for multiple transactions in the past?
No if they did a bad job you have the right to use someone else.
Can a buyer’s broker make a seller pay more than one commission?
No they split commission in original listing contract.
Can listing brokers claim they sold a property even if a different realtor “made” the sale?
Yes, perception thing even if didn’t bring the buyer they were still part of deal so can say they made sale.
Do realtors have to list their brokerage firm in any advertising?
Depends on situation why?
-magazine, newspaper, FB must show firm you work for.
Can the realtor use differing website domain names than their brokerage company name?
Yes but must have brokerage name on it.
Can realtors try to advertise and sell their own property without listing it?
Realtors can do for sale by owner, cannot advertise with brokerage company.
Can realtors offer inducements (gifts) for business?
Yes, can’t “go crazy” with it, no BIG kickbacks. Can offer small inducements.
Can they advertise a different price than the listing agreement?
No, must be obedient to seller.
Their purpose is to help realtors become successful and profitable in their business.
National Association of Realtors
Benefits of the NAR (not all inclusive)
Education programs
Government advocacy
Research Reports
Conferences and networking
What is ethical? (in general)
It is “moral right and wrong” or “duty and obligation”.
What is ethical? (in real estate)
It is the morally correct business conduct.
