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Course Creators® Page 1 520-360-0280 Commissioner’s Rules Applied to Ethical Practices©2018 www.CourseCreators.com
Commissioner’s Rules
Applied To Ethical
Practices Today
With Theresa Barnabei
www.CourseCreators.com
520-360-0280
Course Creators® Page 2 520-360-0280 Commissioner’s Rules Applied to Ethical Practices©2018 www.CourseCreators.com
Commissioners’ Rules Applied to
Ethical Practices Today Meets the Quadrennial NAR Ethics Requirement
Historical Building Blocks
National Association of Real Estate Exchanges Founded in 1908
Founded To Establish Ethical Standards And Measure Conduct
Code Of Ethics Adopted 1913
o Originally 23 Articles:
• Duties To Clients
• Duties To Other Brokers
Living Document
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Notes: _____________________________________________________________
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The Preamble to the Code
Patriotic Duty
Diligent in Preparation (Article 4-Education)
Zealous to improve standards (Article 4-Education)
Competency (R4-28-1101h)
Fairness (R4-28-1101a)
High Integrity
Lofty Ideals
The Code Of Ethics
Duties to Clients and Customers : Articles 1-9
Duties to the Public: Articles 10-14
Duties to REALTORS®: Articles 15-17
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Getting The Code (Provided By: NAR) Instructions: Read each statement and select the Article of the Code of Ethics from the list below that the statement most closely describes. Write the correct Article number in the space next to each statement. No Articles are to be selected twice.
NOTE: The statements in this exercise do not fully represent the comprehensive ethical principles of each Article of the Code of Ethics. To gain a full understanding of the principles of the REALTORS® Code of Ethics, each Article must be read and understood in its entirety.
Commish
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The Road to Success Has Two Separate Paths
Resources for Licensees
Navigating the ADRE Website
o Guides
Commissioners’ Advisories
Substantive Policy Statements
o State Statutes (ARS)
o Administrative Code
Referenced by Rule Number (R4)
NAR Tools and Links
o Link to the Code of Ethics
http://www.realtor.org/mempolweb.nsf/pages/code
o Link to the Pledge
http://www.realtor.org/realtororg.nsf/files/R_COE-
Pledge-of-Performance.pdf/$FILE/R_COE-Pledge-of-
Performance.pdf
The Road To
Success
• Commissioners’ Rules
• NAR Code of Ethics
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Scripts You Will Use
Why The Code of Ethics is Important to You!
How The Code Demonstrates Honesty & Trustworthiness
What To Do In Case of Dispute
Things Happen On the Road
The Dispute Resolution Process
The ADRE Grievance Process
Investigations Mandatory
Channeled Through AG’s Office
Multiple Penalties
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The NAR Code Process
Grievance Committee
Reviews and Recommends Solutions
Refers to Mediation/Arbitration
The Role of Mediation/Arbitration
Voluntary Settlement Conference
Goal is Compromise & Resolution
The Role of Arbitration
Formal Hearing
Witnesses & Exhibits Are Used
Result is Binding
The Professional Standards Committee
Conducts Arbitration Hearings
Statewide or Within Associations
Case Studies
Obligations
SOP 1-11 of the NAR Code of Ethics Realtors® who are employed to maintain or manage a client’s property shall
exercise due diligence and make reasonable efforts to protect it against
reasonably foreseeable contingencies and losses.
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R4-28-1101D Commissioner’s Standard A licensee shall not allow a controversy with another licensee to jeopardize,
delay, or interfere with the initiation, processing, or finalizing of a transaction on
behalf of a client. This prohibition does not obligate a licensee to agree to alter
the terms of any employment or compensation agreement or to relinquish the
right to maintain an action to resolve a controversy.
Preamble to the Code of Ethics The term Realtor® has come to connote competency, fairness, and high integrity
resulting from adherence to a lofty ideal of moral conduct in business relations.
No inducement of profit and no instruction from clients ever can justify departure
from this ideal.
Notes: _____________________________________________________________
___________________________________________________________________
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Accuracy in Advertising
R4-28-502(C) Commissioner’s Standard A salesperson or a broker shall ensure that all advertising contains accurate claims
and representations, and fully states factual material relating to the information
advertised. A salesperson or broker shall not misrepresent the facts or create
misleading impressions.
Notes: _____________________________________________________________
___________________________________________________________________
___________________________________________________________________
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Identification of Employing Broker
SOP 12-5 of the NAR Code of Ethics REALTORS® shall not advertise nor permit any person employed by or affiliated with them to advertise real estate services or listed property in any medium (e.g., electronically, print, radio, television, etc.) without disclosing the name of that REALTOR®'s firm in a reasonable and readily apparent manner.
R4-28-502(E) Commissioner’s Standard A salesperson or broker shall ensure that all advertising identifies in a clear and
prominent manner the employing broker’s legal name or the dba name contained
on the employing broker certificate.
Notes: _____________________________________________________________
___________________________________________________________________
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Identification As Licensee and State Licensure
Article 12 of the NAR Code of Ethics REALTORS® shall be honest and truthful in their real estate communications and shall present a true picture in their advertising, marketing, and other representations. REALTORS® shall ensure that their status as real estate professionals is readily apparent in their advertising, marketing, and other representations, and that the recipients of all real estate communications are, or have been, notified that those communications are from a real estate professional.
Standard of Practice 12-9 of the NAR Code of Ethics REALTOR® firm websites shall disclose the firm’s name and state(s) of licensure in a reasonable and readily apparent manner.
Websites of REALTORS® and non-member licensees affiliated with a REALTOR® firm shall disclose the firm’s name and that REALTOR®’s or non-member licensee’s state(s) of licensure in a reasonable and readily apparent manner.
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Standard of Practice 12-13 of the NAR Code of Ethics The obligation to present a true picture in advertising, marketing, and representations allows REALTORS® to use and display only professional designations, certifications and other credentials to which they are legitimately entitled.
Standard of Practice 12-8 of the NAR Code of Ethics The obligation to present a true picture in representations to the public includes information presented, provided, or displayed on REALTORS®’ websites. REALTORS® shall use reasonable efforts to ensure that information on their websites is current. When it becomes apparent that information on a REALTOR®’s website is no longer current or accurate, REALTORS® shall promptly take corrective action.
R4-28-502(A) Commissioner’s Standard A salesperson or broker acting as an agent shall not advertise in a manner that
implies that no salesperson or broker is taking part in the offer, sale, lease or
exchange.
Notes: _____________________________________________________________
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Accurate & Factual Information
Standard of Practice 12-10 of the NAR Code of Ethics REALTORS®’ obligation to present a true picture in their advertising and representations to the public includes the URLs and domain names they use, and prohibits REALTORS® from: (1) engaging in deceptive or unauthorized framing of real estate brokerage websites; (2) manipulating (e.g., presenting content developed by others) listing content in any way that produces a deceptive or misleading result; or (3) deceptively using metatags, keywords or other devices/methods to direct, drive, or divert Internet traffic, or to otherwise mislead consumers.
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Standard of Practice 12-12 of the NAR Code of Ethics REALTORS® shall not: (1) use URLs or domain names that present less than a true picture, or (2) register URLs or domain names which, if used, would present less than a true picture.
Article 12 of the NAR Code of Ethics REALTORS® Shall be honest and truthful in their real estate communications and shall present a true picture in their advertising, marketing, and other representations. Notes: _____________________________________________________________
___________________________________________________________________
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Obligations of Confidentiality
Standard of Practice 1-9 of the NAR Code of Ethics The obligation of REALTORS® to preserve confidential information (as defined by state law) provided by their clients in the course of any agency relationship or non-agency relationship recognized by law continues after termination of agency relationships or any non-agency relationships recognized by law. REALTORS® shall not knowingly, during or following the termination of professional relationships with their clients:
(1) Reveal confidential information of clients; or (2) Use confidential information of clients to the disadvantage of clients; or (3) Use confidential information of clients
SOP 1-16 REALTORS® shall not access or use, or permit or enable others to access or use, listed or managed property on terms or conditions other than those authorized by the owner or seller.
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R4-28-1101(A) Commissioner’s Standard A licensee owes a fiduciary duty to the client and shall protect and promote the
client’s interests. The licensee shall also deal fairly with all other parties to a
transaction.
Notes: _____________________________________________________________
___________________________________________________________________
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Comments About Competitors
Standard of Practice 15-2 of the NAR Code of Ethics The obligation to refrain from making false or misleading statements about competitors, competitors’ businesses and competitors’ business practices includes the duty to not knowingly or recklessly publish, repeat, retransmit, or republish false or misleading statements made by others. This duty applies whether false or misleading statements are repeated in person, in writing, by technological means (e.g., the Internet), or by any other means.
Sherman Anti-Trust Act • Limits unfair competition
• Restricts false or misleading statements about competitors
Notes:
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Rules of the Road For Traveling Safe
1. 2. 3. 4. 5. 6. 7.
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Arizona Law
R4 28-502C
R4 28-1101K
ARS32-2108
ARS32-2151
R4 28-1101F
ARS32-
2151.02c
R4 28-1001D
R4 28-1101E
R4 28-1101A
ARS32-2108
R4 28-301
R4 28-1101E
R4 28-1101H
ARS44-101
R4 28-1101B
R4 28-1101G
R4 28-502C
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Commissioner’s Rules Applied To Ethical Practices Today
Instructor: Theresa Barnabei, Course Creators University
Date: ______________________________
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