The California Department of Real Estate does not require ethics training to obtain a real estate agent or broker’therefore license. However, membership in the National Association of Realtors, a trade association for real estate professionals, requires ethics training to ensure consumer satisfaction and protection in actual trades. The code of ethics includes duties to clients, customers, the general public, and other real estate agents.
New Membership Training
Prior to joining the National Association of Realtors or any of its affiliated state and local chapters, a realtor must complete a two ½-hour course in ethics training. Course material focuses on honest, immediate communication with clients, customers, the public and other real estate professionals. Realtors either discuss real life situations, such as the way to provide news of undesirable material details, in a sensitive manner.
Renewing Membership Refresher Course
Most integrity training for renewing or returning real estate brokers and agents can be completed through a two ½-hour online program. Ethics training covers exactly the same fundamentals of frank communication and sensitive disclosure to protect customers and create integrity among real estate professionals.
Code of Ethics
A realtor 's duties for clients, customers, the public and other real estate are spelled out in 17 content of a Pledge of Performance and Service. The initial nine posts deal with honest disclosure of material facts to clients and customers, representing all sources of compensation to the realtor, acceptable handling of trust funds and proficiency in preparing contracts and disclosures. The next five articles detail the honest treatment of all people irrespective of race, gender, marital status, handicap or religion, and truth-in-advertising and professionalism. The remaining three posts include respecting the exclusive working relationship between other brokers and their clients, timely communication and willingness to arbitrate whether a dispute arises.
Reason for Learning
Federal and state laws and regulations frequently don’t cover certain aspects of real estate practice, such as professionalism. A realtor might not present a purchase offer to a seller in a timely manner in the hopes of getting a better offer, thus possibly creating a competitive bidding scenario. While it isn’t against the law to present an offer immediately, the National Association of Realtors’ Code of Ethics and Standard of Practice requires brokers to act in their client’s best interest. That means presenting offers as they’re received or in the earliest time the seller can be obtained to examine them.
Consumer Benefits
Consumers ought to be able to expect to receive honest disclosure along with a high level of professionalism when working with a realtor or agent trained in ethics. Whether buying or selling real estate, a consumer anticipates an ethical realtor or agent to disclose all material facts concerning the property, return calls immediately, current offers as they arrive, and cooperate nicely with another real estate professional involved in the transaction.