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REALTOR®: Next year marks REALTOR® Code of Ethics centennial

Wednesday, November 14, 2012

At last week's 2012 REALTORS® Conference and Expo, the National Association of REALTORS® (NAR) proudly announced 2013 will mark the 100th year the national trade association's members have subscribed to a strict Code of Ethics. Though the real estate industry has evolved over the past century, NAR's core values and commitment to excellence have remained constant.

There is a difference between a REALTOR® and a real estate agent. A real estate agent is bound by certain legal obligations. Traditionally, these common-law obligations include: put the client's interests above anyone else's; keep the client's information confidential; obey the client's lawful instructions; report to the client anything that would be useful; and account to the client for any money involved. A REALTOR® is bound by these obligations, but also held to a higher standard of conduct than other real estate professionals.

The term REALTOR® is a registered collective membership mark that identifies a licensed real estate professional who is a member of NAR. All NAR members must adhere to a strict Code of Ethics and actively pursue continuing education to increase their professionalism and skill. The Code of Ethics goes beyond state licensing requirements and sets REALTORS® apart from other real estate licensees. The Code of Ethics protects all parties to the real estate transaction, not just a REALTOR®'s client. The Code identifies professional responsibilities owed to clients, customers, other REALTORS® and the general public.

REALTOR® must complete ethics training by taking at least 2.5 hours of instruction once every four years to keep membership in NAR. For a REALTOR®, living with the Code of Ethics means being honest and dependable, never putting your interests ahead of your client's, and speaking the truth to all parties. If a local association of REALTORS® finds a REALTOR® in violation of the Code of Ethics, disciplinary action can be imposed.

"Few, if any other professional organizations in the nation have put in place such rigorous ethics training requirements for their members," says Suzanne Yost, president of the Silicon Valley Association of REALTORS®, the professional trade association whose over 4,000 REALTORS® and affiliates engaged in the real estate business on the Peninsula and in the South Bay are also members of NAR.

 "Today's home buyers and sellers want and deserve to know that their real estate professional is someone they can trust and who has their best interests at heart," adds Yost, who attended the NAR conference held in Orlando.

Consumers can read more about the Code of Ethics and find a summary of the Code that explains how it benefits them at www.REALTOR®.org/codeofethics.


The Silicon Valley Association of REALTORS® (SILVAR) is a professional trade organization representing over 4,000 REALTORS® and Affiliate members engaged in the real estate business on the Peninsula and in the South Bay. SILVAR promotes the highest ethical standards of real estate practice, serves as an advocate for homeownership and homeowners, and represents the interests of property owners in Silicon Valley.

The term "REALTOR®" is a registered collective membership mark which identifies a real estate professional who is a member of the National Association of REALTORS® and who subscribes to its strict Code of Ethics.

Variations of this article have appeared in local area newspapers.

For further information, please contact Rose Meily at SILVAR Public Affairs, email , or phone (408) 200-0109.

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