What are the three major sections of the code of ethics in real estate?

What are the three major categories of the code of ethics?

The three major categories of the Code are (mark the three correct ones): Duties to REALTORS®, Duties to Clients and Customers, and Duties to the Public.

What is code of ethics real estate?

REALTORS® are real estate professionals who have chosen to join the National Association and abide by its strict Code of Ethics. … The Code of Ethics is a detailed document that spells out the professional responsibilities of every REALTOR®.

When the code of ethics was adopted there were sophisticated real estate license laws nationwide?

Correct Answer: To establish standards of conduct for the industry. There were no real estate licensing laws when the Code was adopted in 1913. One of the primary purposes of the Code was to establish professional standards of conduct for the real estate industry. 3.

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What are broad statements of ethical principles called in the code of ethics?

but the one duty every REALTOR® has in common is their adherence to the REALTORS® Code of Ethics. B. Articles – broad statements of ethical principles. Standards of Practice – support, interpret, and amplify the Articles under which they are stated.

What are the 4 codes of ethics?

The four Principles of Ethics form the underlying philosophical basis for the Code of Ethics and are reflected in the following areas: (I) responsibility to persons served professionally and to research participants, both human and animal; (II) responsibility for one’s professional competence; (III) responsibility to …

What are the code of ethics quizlet?

A written set of principles and rules intended to serve as a guideline for determining appropriate ethical behavior for those individuals under its authority . It’s a formal statement of good intentions.

What are the 3 P’s of professionalism?

Here I present to you some simple rules – The Three P’s of Professionalism: Punctuality, Presentation and Perseverance. Time management is the essence of professionalism.

What are the five codes of Ethics?

What are the five codes of ethics?

  • Integrity.
  • Objectivity.
  • Professional competence.
  • Confidentiality.
  • Professional behavior.

Do real estate agents have a code of ethics?

The NAR Code of Ethics sets the standard for Realtor business practices. Its 17 articles provide standards for conduct with clients and customers, the public, and other Realtors. … In practice, Realtors are required to abide by the Code of Ethics as a way of doing business.

What is Article 2 of the Code of Ethics?

Section 2.

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Every teacher shall uphold the highest possible standards of quality education, shall make the best preparations for the career of teaching, and shall be at his best at all times and in the practice of his profession.

Why was the Code of Ethics adopted?

The Code of Ethics was adopted in 1913 as a basis for license laws to establish a professional standard of conduct for practitioners in the real estate sales industry. … Practitioners in real estate sales are real estate agents.

When was the Code of Ethics adopted quizlet?

The Code of Ethics was adopted:

In 1931.

What does Article 2 prohibit?

Article 2 of the Code of Ethics

REALTORS. ® shall avoid exaggeration, misrepresentation, or concealment of pertinent facts.

Why is the Code of Ethics continuously reviewed?

The Professional Standards Committee continuously reviews the Code, the Standards of Practice, and the Case Interpretations to ensure that they remain meaningful and accurate.

What are arbitration hearings based on?

If a dispute is not resolved through mediation and the Grievance Committee finds the dispute arbitrable, a hearing panel decides which party is entitled to the disputed funds by conducting a full due process hearing.