Code of Ethics
Realtors should recognize that the interests of the nation and its citizens require the highest and best use of the land and the widest distribution of land ownership. They require the creation of adequate housing, the building of functioning cities, the development of productive industries and farms, and the preservation of a healthful environment.
Such interests impose obligations beyond those of ordinary commerce. They impose grave social responsibility and a patriotic duty to which Realtors should dedicate themselves, and for which they should be diligent in preparing themselves. Realtors, therefore, are zealous to maintain and improve the standards of their calling and share with their fellow Realtors a common responsibility for its integrity and honor.
This course outlines the standards of practice expected of licensed realtors, and provides several case studies to illustrate those standards.
CODE OF ETHICS AND STANDARDS OF PRACTICE
Introduction and Preamble
Article 1 Duties to Clients and Customers
2. Agency Relationships
6. Due Diligence
3. Compensation and Commissions
4. Conflict of Interest
Articles 10-14 Duties to the Public
2. Professional Standards
3. Standards of Competence
4. Consultive Services
Articles 15-17 Duties to Realtors
5. Mediation and Arbitration
Business Ethics, NAR Code of Ethics and Pathways to Professionalism
1. History of NAR
2. Business Ethics
5. Arbitration Guidelines
1. Article 1
2. Article 12
3. Article 17
4. Commercial Cases
Real estate agents are subject to a broad range of legal and ethical requirements that are designed to protect buyers, sellers and the community at large. Buyers and sellers typically will delegate authority to a real estate broker to act as their agent when conducting real estate business. When this happens, an agency relationship has been created. This relationship falls under the domain of “law of agency”. This three-hour video course outlines the various types of agency and the standards of practice associated with each.
After completing this course participants will be able to:
- Recognize and implement the broad range of legal and ethical requirements that protect buyers and sellers.
- Be able to describe and integrate the agency relationships that are created during a real estate transaction.
- Outline the different types of agency and the standards of practice associated with each.
Lesson 1 Levels of Agency (25 minutes)
Lesson 2 Dual Agency (20 minutes)
1. Benefits and Limitations
Lesson 3 Subagency (20 minutes)
1. Benefits and Limitations
Lesson 4 Cases (30 minutes)
1. Ford v Brooks
2. Woodson v DLI Properties LLC
3. Douglas Elliman LLC vs. Tretter
4. Kasey Inc v Alpine Realty Now Inc
5. Sutton v Driver,
6. D&J Real Estate Servs. v. Perkins
7. KMM Invs., LLC v. Ritchie
Lesson 5 Cases (20 minutes)
1. Adar Inv., LLC v. Bayview Loan Serv’g, LLC
2. Gartner v. Rifflard
3. Duncan v. Maag
4. DeWitt Londre, v. Investment Real Estate Specialists, LLC
5. Cardoza v Reed
6. Ardent Service Corp. v Grand Beach Real Estate Inv., LLC
7. Horiike v Coldwell Banker
8. Auer v Paliath
Lesson 6 Cases (15 minutes)
1. Bastarache v Edgerton
2. Bunger v Demming
3. Lawson v Keene
4. Hopkins v Coco
5. Schweitzer v Salt Lake Homeless Program
Assessment 30 minutes
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