April 27, 2018
The three of us, Sally, Hillary, and myself, just got home from three hour class on real estate ethics in Redding. Here are a few take-home thoughts that seemed worth sharing:
- many professions have ethics codes but real estate is the only one that has the mechanisms to enforce their own, ranging from letters of discipline to revocation of license.
- the core idea is that the highest and best use of land is in the nation and public’s best interest and Realtors participate as guardians of that land.
- in many ways real estate practitioners were the first environmental movement for this reason.
- real estate is more of a pillar to the US economy than any other industry.
- the term “Realtor” is trademarked by the National Association of Realtors and unauthorized use (eg. by an agent who does not belong to the NAR and therefore does not subscribe to the Code) can be prosecuted.
- the Code over 104 years old, it was first adopted in 1913 and has been amended, expanded, and clarified hundreds of times to keep up with changes in the real estate industry.
As with any industry, there are abuses but in our business, knowing that we can be reprimanded, fined, or even lose our license for failing to abide high standards of service to you, our client makes us proud and keeps us sharp.