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REAL ETHICS by Steve Stazel | February 2007 | Index of all Real Ethics columns
NAR revisions to Code of Ethics in effect now
In last month’s RealEthics, Steve Stazel outlined some of the changes and additions made to the National Association of REALTORS® Code of Ethics beginning in 2007. This article completes his review of the alterations.
New Standard of Practice 15-2 The obligation to refrain from making false or misleading statements about competitors’ businesses and business practices includes the duty to not knowingly or recklessly 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.
Revisions to Standard of Practice 17-4 The following statement has been added to both paragraphs one and two:
“When arbitration occurs between two (or more) cooperating brokers and where the listing broker is not a party, the amount in dispute and the amount of any potential resulting award is limited to the amount paid to the respondent by the listing broker and any amount credited or paid to a party to the transaction at the direction of the respondent.”
New Standard of Practice 17-5 The obligation to arbitrate established in Article 17 includes disputes between REALTORS® (principals) in different states in instances where, absent an established inter-association arbitration agreement, the REALTOR® (principal) requesting arbitration agrees to submit to the jurisdiction of, travel to, participate in, and be bound by any resulting award rendered in arbitration conducted by the respondent’s REALTOR® association, in instances where the respondent’s REALTOR® association determines that an arbitrable issue exists.
Each month, the Aurora Association of REALTORSŪ Web site features Real Ethics,
a column by Steve Stazel devoted to explaining Code of
Ethics issues for members. A REALTORŪ since 1974, Stazel is a Professional Standards
instructor and senior Ethics
instructor for the Colorado Association of REALTORSŪ.
If you have an ethical concern or an issue you would like
to see addressed, please call Stazel at (303) 773-3333 or e-mail him at
stazels@msn.com. The comments of this article reflect the understanding and
opinions of the author and do not represent an official expression of policy by the National Association
of REALTORSŪ.
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