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
Lesson 1: Introduction and Preamble (10 minutes)
Article 1 Duties to Clients and Customers (10 minutes)
- Agency Relationships
- Due Diligence
- Contracts and agreements
Lesson 2: Articles 2-9 (15 minutes)
- Compensation and Commissions
- Conflict of Interest
Lesson 3: Articles 10-14 Duties to the Public (20 minutes)
- Professional Standards
- Consultative Services
- Unauthorized activities
Lesson 4: Articles 15-17 Duties to Realtors (15 Minutes)
Lesson 5: Exercises and Case Studies (20 minutes)
1. Concepts of the Preamble to the Code.
- Maintain the standards of the industry
- Share responsibility for integrity and honor
- Become and remain up to date
- Share expertise
- Be competent, fair, and conduct self with integrity
2. Structure of the Code
- Duties to clients
- Duties to public
- Duties to realtors
- Evolution of the Code
3. The Code and the Law
4. Pathways to Professionalism
- Respectful to the public, property and peers
Lesson 6: Summaries and Case Studies (20 minutes)
- Article 1
- Article 2
- Article 12
- Article 17
Lesson 7: Commercial Cases (25 minutes)
- Article 1
- Article 2
- Article 3
- Article 11
- Article 16
Assessment (15 minutes)
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