|
REAL ETHICS by Steve Stazel | January 2009 | Index of all Real Ethics columns
REALTOR® Code of Ethics sees one significant change for 2009
The REALTOR® Code of Ethics undergoes only one change for 2009. It has to do with Standard of Practice 1-15. In brief, 1-15 states that the seller – not the agent – decides whether to disclose to buyers or cooperating brokers the existence of offers on the property.
I suggest that when a listing is obtained, the broker should ask the seller whether he or she wants the existence of offers disclosed to buyers or cooperating brokers. If the seller says, “do not disclose,” the broker does not disclose.
If the broker disagrees with the seller’s decision, the broker can certainly explain to the seller why his or her opinion differs. After the seller knows why the broker disagrees, the seller makes the decision and the broker follows those instructions. Isn’t this a decision for the principal to make?
The revised Standard of Practice 1-15 reads as follows (change indicated in bold).
REALTORS®, in response to inquires from buyers or cooperating brokers shall, with the sellers’ approval, disclose the existence of offers on the property. Where disclosure is authorized, REALTORS® shall, when asked, also disclose whether offers were obtained by the listing licensee, another licensee in the listing firm, or by a cooperating broker.
Each month, the Aurora Outlook features RealEthics, a column by Steve Stazel devoted to explaining Code of Ethics issues for members. The comments stated in this article are those of the author and do not necessarily represent the views of the National Association of REALTORS®, the Colorado Association of REALTORS® or the Aurora Association of REALTORS®. Ultimately, a hearing panel of the Professional Standards Committee determines whether a violation of the Code of Ethics has occurred on a case-by-case basis. These comments should not serve as the foundation of any ethics complaint, arbitration request or response.
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.
|
