Preamble

Under all is the land. REALTORS® recognize that the interests of the nation and its citizens require the highest and best use of the land and the widest distribution of ownership.

Such interests impose obligations, grave social responsibility and a patriotic duty to which REALTORS® should dedicate themselves, and for which they should be diligent in preparing themselves. REALTORS® therefore, are zealous to maintain and improve the standards of their calling and share with their fellow REALTORS® a common responsibility for its integrity and honor.

In recognition and appreciation of their obligations to clients, the public, their fellow REALTORS®, their Board and the Association, REALTORS® continuously strive to become and remain informed on issues affecting real estate and, as knowledgeable professionals, they willingly share with others the fruit of their experience and study with others. They identify and take steps, through enforcement of this Code of Ethics and by assisting appropriate regulatory bodies, to eliminate practices that may damage the public or may bring dishonor to the real estate profession.

The term REALTOR® has come to connote competency, fairness and high integrity resulting from adherence to a lofty ideal of moral conduct in business relations.

In the interpretation of their obligations, REALTORS® can take no safer guide than that which has been handed down through centuries embodied in the Golden Rule: Whatsoever ye would that others should do to you, do ye even so to them.

Accepting these standards as their own, REALTORS® pledge to observe its spirit in all of their activities whether conducted personally, through associates or others, or via technological means, and to conduct their business in accordance with the tenets set forth below.


Part I. Duties to Clients

Article 1

When representing buyers, sellers, lessors, lessees or other clients. REALTORS® pledge themselves to protect and promote the interests of their clients. This obligation to clients is primary, but it does not relieve REALTORS® of their obligation to treat all parties honestly.

* Standard of Practice 1-1

The duties imposed by the Code of Ethics encompass all real estate-related activities and transactions whether conducted in person, electronically, or through any other means.

* Standard of Practice 1-2

REALTORS®, in attempting to secure a listing, shall not deliberately mislead the owner as to market value.

* Standard of Practice 1-3

REALTORS®, when seeking to become a buyer/lessee representative, shall not mislead buyers or lessees as to savings or other benefits that might be realized through use of the REALTOR®'s services.

* Standard of Practice 1-4

REALTORS® may represent the seller/lessor and buyer/lessee in the same transaction with full disclosure to both parties.

* Standard of Practice 1-5

REALTORS® shall submit offers and counter-offers objectively and as quickly as possible.

* Standard of Practice 1-6

When acting as listing brokers, REALTORS® shall continue to submit to the seller/lessor all offers and counter-offers unless the seller/lessor says otherwise. REALTORS® shall not be obligated to continue to market the property after an offer has been accepted by the seller/lessor. REALTORS® shall recommend that sellers/lessors obtain the advice of legal counsel prior to acceptance of a subsequent offer except where the acceptance is contingent on the termination of the preexisting purchase contract or lease.

* Standard of Practice 1-7

REALTORS®, acting as brokers of buyers/lessees, shall submit to buyers/lessees all offers and counter-offers until acceptance but have no obligation to continue to show properties to their clients after an offer has been accepted unless otherwise agreed in writing. REALTORS®, acting as agents or brokers of buyers/lessees, shall recommend that buyers/lessees obtain the advice of legal counsel if there is a question as to whether a ­pre-existing contract has been terminated.

* Standard of Practice 1-8

The obligation of REALTORS® to preserve confidential information provided by their clients in the course of any agency relationship continues after termination of agency relationships. REALTORS® shall not knowingly, during or following the termination of professional relationships with their clients:

1. Reveal confidential information of clients; or
2. Use confidential information of clients to the disadvantage of clients; or
3. Use confidential information of clients for the REALTOR®'s advantage or the advantage of third parties unless:
1. Clients consent after full disclosure; or
2. REALTORS® are required by court order; or
3. It is the intention of a client to commit a crime and the information is necessary to prevent the
crime; or
4. It is necessary to defend a REALTOR® or the REALTOR®'s employees or associates against an
accusation of wrongful conduct.

Information concerning latent material defects is not considered confidential information under this Code of Ethics.

* Standard of Practice 1-9

REALTORS® shall, consistent with the terms and conditions of their real estate licensure and their property management agreement, competently manage the property of clients with due regard for the rights, safety and health of lessees and others lawfully on the premises.

* Standard of Practice 1-10

REALTORS® who are employed to maintain or manage a client’s property shall exercise due diligence and make reasonable efforts to protect it against reasonably foreseeable contingencies and losses.

* Standard of Practice 1-11

REALTORS®, in response to inquiries from buyers or cooperating brokers shall, with the sellers’ approval, disclose the existence of offers on the property. Where disclosure is authorized, REALTORS® shall also disclose whether offers were obtained by the listing licensee, another licensee in the listing firm, or by a cooperating broker.

* Standard of Practice 1-12

REALTORS®, when acting as principals in a real estate transaction, remain obligated by the duties imposed by the Code of Ethics.

* Standard of Practice 1-9

REALTORS® shall, consistent with the terms and conditions of their real estate licensure and their property management agreement, competently manage the property of clients with due regard for the rights, safety and health of lessees and others lawfully on the premises.

* Standard of Practice 1-10

REALTORS® who are employed to maintain or manage a client’s property shall exercise due diligence and make reasonable efforts to protect it against reasonably foreseeable contingencies and losses.

* Standard of Practice 1-11

REALTORS®, in response to inquiries from buyers or cooperating brokers shall, with the sellers’ approval, disclose the existence of offers on the property. Where disclosure is authorized, REALTORS® shall also disclose whether offers were obtained by the listing licensee, another licensee in the listing firm, or by a cooperating broker.

* • Standard of Practice 1-12

REALTORS®, when acting as principals in a real estate transaction, remain obligated by the duties imposed by the Code of Ethics.


Article 2

REALTORS® shall avoid exaggeration, misrepresentation, or concealment of pertinent facts relating to the property or the transaction. REALTORS® shall not, however, be obligated to discover latent defects in the property, to advise on matters outside the scope of their real estate license, or to disclose facts which are confidential under the scope of agency relationships.

* Standard of Practice 2-1

REALTORS® shall only be obligated to discover and disclose adverse factors reasonably apparent to someone with expertise in those areas. Article 2 does not impose upon the REALTOR® the obligation of expertise in other professional or technical disciplines.

* Standard of Practice 2-2

REALTORS® shall not be parties to the naming of a false consideration in any document.


Article 3


The REALTORS® should cooperate with other REALTORS® on property listed, sharing commissions on an agreed basis. Negotiations concerning property listed exclusively with one REALTOR® should be carried on with the listing broker, not with the owner, except with the consent of the listing REALTOR®.

* Standard of Practice 3-1

REALTORS® shall, with respect to offers of compensation to another REALTOR®, timely communicate any change of compensation for cooperative services to the other REALTOR® prior to the time such REALTOR® produces an offer to purchase/lease the property.

* Standard of Practice 3-2

Standard of Practice 3-2 does not preclude the listing broker and cooperating broker from entering into an agreement to change cooperative compensation.

* Standard of Practice 3-3

REALTORS®, acting as listing brokers, have an affirmative obligation to disclose the existence of dual or variable rate commission arrangements (i.e., listings where one amount of commission is payable if the listing broker’s firm is the procuring cause of sale/lease and a different amount of commission is payable if the sale/lease results through the efforts of the seller/landlord or a cooperating broker). The listing broker shall, as soon as practical, disclose the existence of such arrangements to potential cooperating brokers and shall, in response to inquiries from cooperating brokers, disclose the differential that would result in a cooperative transaction or in a sale/lease that results through the efforts of the seller/lessor. If the cooperating broker is a buyer/lessee representative, the buyer/lessee representative must disclose such information to their client before the client makes an offer to purchase or lease.

* Standard of Practice 3-4

REALTORS® shall disclose the existence of accepted offers, including offers with unresolved contingencies, to any broker seeking cooperation.

* Standard of Practice 3-5

When seeking information from another REALTOR® concerning property under a management or listing agreement, REALTORS® shall disclose their REALTOR® status and whether their interest is personal or on behalf of a client and, if on behalf of a client, their representational status,

* Standard of Practice 3-6

REALTORS® shall not misrepresent the availability of access to show or inspect a listed property


Article 4

REALTORS® shall not acquire an interest in or buy or present offers from themselves, any member of their immediate families, their firms or any member thereof, or any entities in which they have any ownership interest of at least 20-percent in any real property without making their true position known to the owner or the owner’s agent or broker. In selling property they own, or in which they have any interest, REALTORS® shall reveal their ownership or interest to the purchaser or the purchaser’s representative.

* Standard of Practice 4-1

For the protection of all parties, the disclosures required by Article 4 shall be in writing and provided by REALTORS® prior to the signing of any contract.


Article 5

REALTORS® shall not undertake to provide professional services concerning a property where they have a present or contemplated interest unless such interest is specifically disclosed to all affected parties.

Article 6

REALTORS® shall not accept any commission, rebate, or profit on expenditures made for their client, without the client’s knowledge and consent.

When recommending real estate products or services, REALTORS® shall disclose to the client to whom the recommendation is made any financial benefits or fees, other than the standard industry referral fees, the REALTOR®or REALTOR®'s firm may receive as a direct result of such recommendation.

* Standard of Practice 6-1

REALTORS® shall not recommend or suggest to a client or a customer the use of services of another organization or business entity in which they have a direct interest without disclosing such interest at the time of the recommendation or suggestion.


Article 7

In a transaction, REALTORS® shall not accept compensation from more than one party, even if permitted by law, without disclosure to all parties.

Article 8

REALTORS® shall keep separate from their own funds, monies coming into their possession in trust for other persons, such as down payments, reservations or earnest money, amortizations, clients’ monies, and other like items and under instruction by the principal keep them in a separate account.

Article 9

REALTORS®, for the protection of all parties, shall assure whenever possible that all agreements related to real estate transactions including, but not limited to, listing agreements, sales contracts, and leases are in writing in clear and understandable language expressing the specific terms, conditions, obligations and commitments of the parties. A copy of each agreement shall be furnished to each party to such agreements upon their signing or initialing.

* Standard of Practice 9-1

For the protection of all parties, REALTORS® shall use reasonable care to ensure that documents pertaining to the purchase, sale, or lease of real estate are kept current through the use of written extensions or amendments.

• Standard of Practice 9-2

When assisting or enabling a client in establishing a contractual relationship electronically, REALTORS® shall make reasonable efforts to explain the nature and disclose the specific terms of the contractual relationship being established prior to it being agreed to by a contracting party.


Part II. Duties to the Public

Article 10

REALTORS® shall not deny equal professional services to any person for reasons of race, color, religion, sex, handicap, familial status, or national origin. REALTORS® shall not be parties to any plan or agreement to discriminate against a person or persons on the basis of race, color, religion, sex, handicap, familial status, or national origin.

REALTORS®, in their real estate employment practices, in accordance with law, shall not discriminate against any person or persons on the basis of race, color, religion, sex, handicap, familial status, or national origin.

* Standard of Practice 10-1

When involved in the sale or lease of a residence, REALTORS® shall not volunteer information regarding the racial, religious or ethnic composition of any neighborhood nor shall they engage in any activity which may result in panic selling, however, REALTORS® may provide other demographic information.

* Standard of Practice 10-2

REALTORS® may provide demographic information related to a property, transaction or professional assignment to a party if such demographic information is (a) deemed by the REALTORS® to be needed to assist with or complete, in a manner consistent with Article 10, a real estate transaction or professional assignment and (b) is obtained or derived from a recognized, reliable, independent, and impartial source. The source of such information and any additions, deletions, modifications, interpretations, or other changes shall be disclosed in reasonable detail.

* Standard of Practice 10-3

REALTORS® shall not print, display or circulate any statement or advertisement with respect to selling or renting of a property that indicates any preference, limitations or discrimination based on race, color, religion, sex, handicap, familial status, or national origin.

* Standard of Practice 10-4

As used in Article 10 “real estate employment practices” relates to employees and independent contractors providing real estate-related services and the administrative and clerical staff directly supporting those individuals.


Article 11

REALTORS® shall protect the public against fraud, misrepresentation or unethical practices in the real estate industry.

REALTORS® shall help prevent or stamp out any practice which could and allied professions, as well as lend help to othe damage the dignity and integrity of the real estate profession. And towards this end, shall lend help to the government offices charged with the duty of regulating the practices of real estate brokers, salesmen, appraisers, consultants r government offices dealing with land and its improvements.

* Standard of Practice 11-1

REALTORS® shall not deal with and engage the services of unlicensed real estate professionals.

* Standard of Practice 11-2

REALTORS® shall not offer or agree to pay, split or rebate any commission, fee or valuable consideration, directly or indirectly, with any person who is not a duly licensed real estate broker or salesman under him, cooperating, assisting in or endorsing a transaction.

* Standard of Practice 11-3

REALTORS® shall not procure or help procure consent to close or consummate any real estate transaction or engagement of their services by means of fraud, deceit, intimidation, violence or immoral

* Standard of Practice 11-4

REALTORS® shall act and conduct themselves in a competent, trustworthy and honest manner with utmost respect and compliance for the laws of the land.


Article 12

The services which REALTORS® provide to their clients shall conform to the standards of practice and competence which are reasonably expected in the specific real estate disciplines in which they engage; specifically, residential real estate brokerage, real property management, commercial and industrial real estate brokerage, real estate syndication, real estate auction, and international real estate.

REALTORS® shall not undertake to provide specialized professional services concerning a type of property or service that is outside their field of competence unless they engage the assistance of one who is competent on such types of property or service, or unless the facts are fully disclosed to the client. Any persons engaged to provide such assistance shall be so identified to the client and their contribution to the assignment should be set forth.

* Standard of Practice 12-1

REALTORS® shall keep themselves informed as to movements affecting real estate in their community, city or province and the nation so that they may be able to contribute to public thinking on matters of taxation, legislation, land use, city planning and other issues affecting real estate.

It shall be the duty of REALTORS® to be well informed on current market conditions in order to be in a position to advice on fair market value.

* Standard of Practice 12-2

REALTORS® shall ascertain all pertinent facts concerning every property for which he accepts the agency, so that they may fulfill their obligations in order to avoid error, exaggerations, misrepresentation or concealment of pertinent facts.

* Standard of Practice 12-3

The obligations under this Code of Ethics with respect to real estate disciplines other than appraisal shall be interpreted and applied in accordance with the standards of competence and practice which clients and the public reasonably require to protect their rights and interests considering the complexity of the transaction, the availability of expert assistance, and, where the REALTOR® acts under an agency arrangement, the obligations of a fiduciary.

• Standard of Practice 12-4

When REALTORS® provide consultative services to clients which involve advice or counsel for a fee (not a commission), such advice shall be rendered only when REALTORS® are licensed as a real estate consultant and such advice must be rendered in an objective manner and the fee shall not be contingent on the substance of the advice or counsel given.

* Standard of Practice 12-5

The competency required by Article 12 relates to services contracted for between REALTORS® and their clients; the duties expressly imposed by the Code of Ethics; and the duties imposed by law or regulation.


Article 13

REALTORS® shall be honest and truthful in their real estate communications and shall present a true picture in their advertising, marketing, and other representations. REALTORS® shall ensure that their status as real estate professionals is readily apparent in their advertising, marketing, and other representations, and that the recipients of all real estate communications are, or have been, notified that those communications are from a real estate professional.

* Standard of Practice 13-1

REALTORS® shall always indicate their real estate license number in their calling cards, letterheads, signboards, billboards, advertisements and other public announcement.

* Standard of Practice 13-2

REALTORS® may use the term “free” and similar terms in their advertising and in other representations provided that all terms governing availability of the offered product or service are clearly disclosed at the same time.

* Standard of Practice 13-3

REALTORS® may represent their services as “free” or without cost even if they expect to receive compensation from a source other than their client provided that the potential for the REALTOR® to obtain a benefit from a third party is clearly disclosed at the same time.

* Standard of Practice 13-4

The offering of premiums, prizes, merchandise discounts or other inducements to list, sell, purchase, or lease is not, in itself, unethical even if receipt of the benefit is contingent on listing, selling, purchasing, or leasing through the REALTOR® making the offer. However, REALTORS® must exercise care and candor in any such advertising or other public or private representations so that any party interested in receiving or otherwise benefiting from the REALTOR®'s offer will have clear, thorough, advance understanding of all the terms and conditions of the offer. The offering of any inducements to do business is subject to the limitations and restrictions of law and the ethical obligations established by any applicable Standard of Practice.

* Standard of Practice 13-5

REALTORS® shall not offer for sale/lease or advertise property without authority. When acting as listing brokers, REALTORS® shall not quote a price different from that agreed upon with the seller/lessor.

* Standard of Practice 13-6

REALTORS® shall not advertise nor permit any person employed by or affiliated with them to advertise listed property in any medium (e.g., electronically, print, radio, television, etc.) without disclosing the name of that REALTOR®'s firm in a reasonable and readily apparent manner.

* Standard of Practice 13-7

REALTORS®, when advertising unlisted real property for sale/lease in which they have an ownership interest, shall disclose their status as both owners/lessors and as REALTORS® or real estate licensees.

* Standard of Practice 13-8

Only REALTORS® who participated in the transaction as the listing broker or cooperating/selling broker may claim to have “sold” the property. Prior to closing, a cooperating broker may post a “sold” sign only with the consent of the listing broker.

* Standard of Practice 13-9

The obligation to present a true picture in representations to the public includes information presented, provided, or displayed on REALTORS®’ websites. REALTORS® shall use reasonable efforts to ensure that information on their websites is current.

When it becomes apparent that information on a REALTOR®'s website is no longer current or accurate, REALTORS® shall promptly take corrective action.

* Standard of Practice 13-10

REALTOR® firm websites shall disclose the firm’s name and region of licensure in a reasonable and readily apparent manner.

Websites of REALTOR® and non-member licensees affiliated with a REALTOR® firm shall disclose the firm’s name and that REALTOR®'s or non-member licensee’s region of licensure in a reasonable and readily apparent manner.

* Standard of Practice 13-11

REALTORS®’ obligation to present a true picture in their advertising and representations to the public includes the URLs and domain names they use, and prohibits REALTORS® from:

1. Engaging in deceptive or unauthorized framing of real estate brokerage websites;
2. Manipulating (e.g., presenting content developed by others) listing content in any way that produces a deceptive or misleading result; or
3. Deceptively using metatags, keywords or other devices/ methods to direct, drive, or divert Internet traffic, or to otherwise mislead consumers.

* Standard of Practice 13-12

REALTORS® intending to share or sell consumer information gathered via the Internet shall disclose that possibility in a reasonable and readily apparent manner.

* Standard of Practice 13-13

REALTORS® shall not use URLs or domain names that present less than a true picture; or register URLs or domain names which, if used, would present less than a true picture.

* Standard of Practice 13-14

The obligation to present a true picture in advertising, marketing, and representations allows REALTORS® to use and display only professional designations, certifications, and other credentials to which they are legitimately entitled.


Article 14

REALTORS® shall not engage in activities that constitute the unauthorized practice of law and shall recommend that legal counsel be obtained when the interest of any party to the transaction requires it.

Article 15

If charged with unethical practice or asked to present evidence or to cooperate in any other way, in any professional standards proceeding or investigation,

REALTORS® shall place all pertinent facts before the proper tribunals of their Board and shall take no action to disrupt or obstruct such processes.

* Standard of Practice 15-1

REALTORS® shall not be subject to disciplinary proceedings in more than one Board of REALTORS® with respect to alleged violations of the Code of Ethics relating to the same transaction or event.

* Standard of Practice 15-2

REALTORS® shall not make any unauthorized disclosure or dissemination of the allegations, findings, or decision developed in connection with an ethics hearing or appeal or in connection with an arbitration hearing or procedural review.

* Standard of Practice 15-3

REALTORS® shall not obstruct the Board’s investigative or professional standards proceedings by instituting or threatening to institute actions for libel, slander, or defamation against any party to a professional standards proceeding or their witnesses based on the filing of an arbitration request, an ethics complaint, or testimony given before any tribunal.

* Standard of Practice 15-4

REALTORS® shall not intentionally impede the Board’s investigative or disciplinary proceedings by filing multiple ethics complaints based on the same event or transaction.


Part III. Duties to Fellow REALTORS®

Article 16

REALTORS® shall not knowingly or recklessly make false or misleading statements about competitors, their businesses, or their business practices. In instances where their opinion is sought, or where REALTORS® believe that comment is necessary, their opinion is offered in an objective, courteous, professional manner, uninfluenced by any personal motivation or potential advantage or gain.

* Standard of Practice 16-1

REALTORS® shall not knowingly or recklessly file false or unfounded ethics complaints.

* Standard of Practice 16-2

The obligation to refrain from making false or misleading statements about competitors’ businesses and competitors’ business practices includes the duty to not knowingly or recklessly repeat, re-transmit, or re-publish 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.


Article 17

REALTORS® shall not engage in any practice or take any action inconsistent with exclusive representation or exclusive brokerage relationship agreements that other REALTORS® have with clients.

* Standard of Practice 17-1

Article 17 is not intended to prohibit aggressive or innovative business practices which are otherwise ethical and does not prohibit disagreements with other Realtors® involving commission, fees, compensation or other forms of payment or expenses.

* Standard of Practice 17-2

Article 17 does not preclude REALTORS® from making general announcements to prospects describing their services and the terms of their availability even though some recipients may have entered into agency agreements or other exclusive relationships with another REALTOR®. A general telephone canvass, general mailing or distribution addressed to all prospects in a given geographical area or in a given profession, business, club, or organization, or other classification or group is deemed “general” for purposes of this standard.

Article 17 is intended to recognize as unethical two basic types of solicitations:

First, telephone or personal solicitations of property owners who have been identified by a real estate sign, multiple listing compilation, or other information service as having exclusively listed their property with another REALTOR®; and

Second, mail or other forms of written solicitations of prospects whose properties are exclusively listed with another REALTOR® when such solicitations are not part of a general mailing but are directed specifically to property owners identified through compilations of current listings, “for sale” or “for rent” signs, or other sources of information required by Article 3 and Multiple Listing Service rules to be made available to other REALTORS® under offers of sub-agency or cooperation.

* Standard of Practice 17-3

Article 17 does not preclude REALTORS® from contacting the client of another broker for the purpose of offering to provide, or entering into a contract to provide, a different type of real estate service unrelated to the type of service currently being provided (e.g., property management as opposed to brokerage) or from offering the same type of service for property not subject to other brokers’ exclusive agreements. However, information received through a Multiple Listing Service or any other offer of cooperation may not be used to target clients of other REALTORS® to whom such offers to provide services may be made.

* Standard of Practice 17-4

REALTORS® shall not solicit a listing which is currently listed exclusively with another broker.

* Standard of Practice 17-5

When REALTORS® are contacted by the client of another REALTOR® regarding the creation of an exclusive relationship to provide the same type of service, and REALTORS® have not directly or indirectly initiated such discussions, they may discuss the terms upon which they might enter into a future agreement or, alternatively, may enter into an agreement which becomes effective upon expiration of any existing exclusive agreement.

• Standard of Practice 17-6

The fact that a prospect has retained a REALTOR® as an exclusive representative or exclusive broker in one or more past transactions does not preclude other REALTORS® from seeking such prospect’s future business.

* Standard of Practice 17-7

The fact that an exclusive agreement has been entered into with a Realtor® shall not preclude or inhibit any other REALTOR® from entering into a similar agreement after the expiration of the prior agreement.

* Standard of Practice 17-8

REALTORS®, prior to entering into a representation agreement, have an affirmative obligation to make reasonable efforts to determine whether the prospect is subject to a current, valid exclusive agreement to provide the same type of real estate service.

* Standard of Practice 17-9

REALTORS®, acting as buyer or lessee brokers, shall disclose that relationship to the seller/lessor’s broker at first contact not later than execution of a purchase agreement or lease.

* Standard of Practice 17-10

On unlisted property, REALTORS® acting as buyer/lessee brokers shall disclose that relationship to the seller/lessor at first contact not later than execution of any purchase or lease agreement.

REALTORS® shall make any request for anticipated compensation from the seller/lessor at first contact.

* Standard of Practice 17-11

REALTORS®, acting as brokers of sellers/lessors or as subagents of listing brokers, shall disclose that relationship to buyers/lessees as soon as practicable not later than execution of any purchase or lease agreement.

* Standard of Practice 17-12

In cooperative transactions REALTORS® shall compensate cooperating REALTORS® and shall not compensate nor offer to compensate, directly or indirectly, any of the sales licensees employed by or affiliated with other REALTORS® without the prior express knowledge and consent of the cooperating broker.

* Standard of Practice 17-13

REALTORS®, acting as subagents or buyer/lessee brokers, shall not use the terms of an offer to purchase/lease to attempt to modify the listing broker’s offer of compensation to subagents or buyer/lessee brokers nor make the submission of an executed offer to purchase/lease contingent on the listing broker’s agreement to modify the offer of compensation.

* Standard of Practice 17-14

REALTORS®, acting as subagents or as buyer/lessee brokers, shall not attempt to extend a listing broker’s offer of cooperation and/or compensation to other brokers without the consent of the listing broker.

* Standard of Practice 17-15

REALTORS® shall not use information obtained from listing brokers through offers to cooperate made through multiple listing services or through other offers of cooperation to refer listing brokers’ clients to other brokers or to create buyer/lessee relationships with listing brokers’ clients, unless such use is authorized by listing brokers.

* Standard of Practice 17-16

Signs giving notice of property for sale, rent, lease, or exchange shall not be placed on property without consent of the seller/lessor.

* Standard of Practice 17-17

REALTORS®, prior to or after terminating their relationship with their current firm, shall not induce clients of their current firm to cancel exclusive contractual agreements between the client and that firm. This does not preclude REALTORS® (principals) from establishing agreements with their associated licensees governing assign ability of exclusive agreements.


Article 18

In the event of contractual disputes between REALTORS® they shall submit the dispute to arbitration in accordance with the regulations of their Board or Boards rather than litigate the matter.

In the event clients of REALTORS® wish to arbitrate contractual disputes arising out of real estate transactions, REALTORS® shall arbitrate those disputes in accordance with the regulations of their Board, provided the clients agree to be bound by the decision.

The obligation to participate in arbitration contemplated by this Article includes the obligation of REALTORS® to cause their firms to arbitrate and be bound by any award.

* Standard of Practice 18-1

The filing of litigation and refusal to withdraw from it by Realtors® in an arbitrable matter constitutes a refusal to arbitrate.

* Standard of Practice 18-2

Article 18 does not require REALTORS® to arbitrate in those circumstances when all parties to the dispute advise the Board in writing that they choose not to arbitrate before the Board.

* Standard of Practice 18-3

REALTORS®, when acting solely as principals in a real estate transaction, are not obligated to arbitrate disputes with other REALTORS® absent a specific written agreement to the contrary.


Part IV. Duties to the Board and the Association

Article 19

REALTORS® shall uphold the principles espoused by the Board and the Association and shall abide by its Articles of Incorporation, By-laws, and its rules and regulations.

Article 20

Membership in their respective Boards and in the Association carries with it the moral obligation to serve as Director, Officer or Committee Chairman or Member in either the Board or in the Association when so qualified, elected or duly called upon to serve.

Article 21

In the best interest of the community, the Board, the Association and of his business, REALTORS® shall be loyal to the Board and to the Association and shall be active in its works.