The Code of Ethics of the National Association of REALTORS® is the promise to the public that when dealing with a real estate agent that is a REALTOR®, they can expect honest and ethical treatment in all transaction related matters. Only REALTORS® pledge to abide by the NAR's Code of Ethics and only REALTORS® are held accountable for their ethical behavior.
Boards and Associations of REALTORS® are responsible for enforcing the NAR REALTORS® Code of Ethics. The Code of Ethics imposes duties listed below and in addition to those imposed by law or regulation which apply only to real estate professionals who choose to become REALTORS®.
Some of the basic principles of the NAR Code of Ethics include:
- Protect and promote your client's interests, but be honest with all parties.
- Avoid exaggeration, misrepresentation, and concealment of pertinent facts. Do not reveal facts that are confidential under the scope of your agency relationship.
- Disclose present or contemplated interest in any property to all parties.
- Avoid side deals without your client's informed consent.
- Accept compensation from only one party, except with full disclosure and informed consent.
- Keep the funds of clients and customers in escrow.
- Assure, whenever possible, that transactional details are in writing.
- Provide equal service to all clients and customers.
- Be knowledgeable and competent in the fields of practice in which you ordinarily engage. Obtain assistance or disclose lack of experience if necessary.
- Do not engage in the unauthorized practice of law