REALTOR® Code of Ethics: Understanding Professional Conduct
Who is a realtor?
A person who represents buyers or sellers of real estate or other real property is known as a real estate agent or broker. Although a broker may operate independently, an agent typically assists a broker who is authorized to represent clients.
Any person who holds a license to assist individuals in buying and selling commercial or residential property is a real estate agent. A real estate agent who belongs to the National Association of Realtors (NAR), the biggest trade organization in the United States, and is an active member of it is referred to as a "Realtor."
Answer:
These questions deal with the REALTOR® Code of Ethics, which regulates professional conduct including provision of information to buyers, advertising practices, ethical principles, and rules of outreach to homeowners.
The subject matter of these questions revolves around the Code of Ethics pertaining to REALTORS®. The Code stipulates that a copy of an offer to purchase must be provided to the buyer promptly, but not later than 24 hours after the buyer has signed the offer. It also mandates that REALTORS®' advertising clearly identifies the member's professional status or status as a REALTOR®. The Preamble to the Code, while establishing ideals that all REALTORS® should strive to meet, can also form the basis for disciplinary actions. The Articles of the Code are broad statements of ethical principles, and the Standards of Practice support, interpret and amplify these Articles. A general mailing to all homeowners in an area is ethical, provided it does not reach owners whose properties are listed exclusively with other brokers, infringe on privacy regulations such as 'Do Not Call' registries, or interfere with other brokers' listings.