Tell you what, I'll let HP'ers take this one. Fire away...
The NATIONAL ASSOCIATION OF REALTORS® Code of Ethics: What Does it Mean for Consumers?
If a REALTOR® represents you, whether you are buying or selling a home, you can count on that REALTOR® to:
1. Be honest with all parties in the transaction – not just with you, as his or her client, but also with the other real estate practitioner and his or her clients.
For example, if REALTORS® represent a buyer with a spotty credit history, they can’t be dishonest with sellers about this fact. At the same time, REALTORS® can help their buyer clients collect and assemble information, such as credit reports and audited tax returns, to demonstrate that the buyer has addressed the problem and improved their situation.
2. Put your interests ahead of his or her own, at all times.
A REALTOR® makes every effort to understand the housing needs of his or her client, thoroughly researches available inventory, and shares all relevant information with the buyer so that he or she can make an informed decision. This service is provided regardless of the compensation available.
3. Disclose all pertinent facts regarding the property and the transaction to both buyer and seller.
If a REALTOR® believes information provided by a seller is questionable, the REALTOR® is obligated to investigate. REALTORS® should recommend that buyers consult their own experts, such as home inspectors, to address concerns. For example, if a home seller asks his or her REALTOR® to conceal the fact that the roof leaks, the REALTOR® cannot comply; if the seller insists, the REALTOR® should end the business relationship with that seller.
4. Be truthful in all communications with the public.
When REALTORS® distribute newsletters, create Web sites, or place advertisements, they must be careful not to represent other real estate professionals’ work product as their own. If recently sold or listed properties in the community are publicized, it must be clear whether the REALTOR® was actually involved in the transaction, or whether that data came from the local multiple listing service or other source. This ensures that the public understands the REALTOR®’s experience and can make an informed decision when choosing real estate representation.
October 14, 2006
The NAR code of ethics: Ba ha ha ha ha! Ba ha ha ha!
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15 comments:
It's funny to see the head of the NAR violate #4 himself
4. Be truthful in all communications with the public.
Sharkbait
One of the most scummy guys in our town, is the owner of his own agency. He purposely would get listings, under price them and have his buddies buy the homes, to keep his name clean. He would take full comissions on the deals on both sides and go in on flipping the properties. If another realtor is involved he gives himself a bigger split. He also takes full comissions from his own family members.
He lies, cheats, and walks around with a huge smile because he has no morals.
His greedy ass wife sings "we're in the money" every time he screws another victim, and they still are in business - sick.
Suzanne researched this and made the following changes:
2. A REALTOR® puts his or her interests ahead of the interests of his or her client at all times.
A REALTOR® makes no effort to understand the housing needs of his or her client, thoroughly researches available inventory to find listings most profitable for the REALTOR® and shares no relevant information with the buyer so that he or she will make an uninformed decision. This service is designed to provide maximum compensation to the REALTOR® while totally screwing the buyer.
A realtor bought the house a few doors down from me before it hit the market (late 2004 early 2005) . He pulled a loan on it then put a few bucks in it and stuck a For Sale sign in the front yard thinking it'll sell quick . It's been sitting ever since and everytime I drive by it I laugh and think he's gonna have to bake it, broil it or barbecue it because he's gonna have to eat it.
ETHIC'S?
Baby, you got them or you don't!
You're not going to learn them in a classroom!
Especially the cut-throat school of real estate!
Every single one of those points can be shot down so easily!
Keith,
As the housing market keeps cooling, maintaining a "bubble" blog seems a bit redundant.
How about a campaign to require every State in the Union to license mortgage brokers? When that was done in Utah, the number of brokers decreased 50% and foreclosures, bankruptcies and mortgage fraud also dropped.
I think rising values covered a lot of fraud and as they sink, we're going to see all kinds of crap.
Just my two cents.
Salt Lake Mortgage Blog
Those realtors at the Seattle Post Intelligencer Blog are at it again.
Today they're posting an interesting solution to the high cost of housing...living in steel crates.
Susan Ryan is too good for it though:
Posted by Susan Ryan at 10/14/06 9:28 a.m.
This reminds me of one of my favorite childhood books, The Boxcar Children.
I still love the ideal of repurposing, rather than throwing usable things away. However, living in a metal box has lost the romatic appeal of my childhood.
Anon said: One of the most scummy guys in our town, is the owner of his own agency.
Those are like McDonald's, every town has one...
Ah yes, I'm presently enjoying watching a realtor here in Seattle throw all her rental properties on the market one and a half months ago (can you say panic?) and proceed to lower the price by 50K every 10 days.
This is someone who has enjoyed screwing renters and client buyers alike for the past 10 years, with a smile on her face.
Nice party while it lasted.
Their utter and complete LACK of ethics will come back to haunt them as the public, many of whom now believe they are trustworthy professionals, discover the truth and learn to loathe them for the liars they are.
Bring. It. On.
Come to Seattle. We're special. We live in metal shipping crates.
I fell off my chair laughing!
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