2019 Changes to Code of Ethics for Realtors
With the new year comes new laws. Many changes to laws come about at the beginning of each year, and the code of ethics for real estate associates, brokers. Realtors and other professionals is no exception. While acting is an ethical manner is not specifically a law, there are guidelines you must follow as a Realtor in order to keep your license.
If you are a Realtor, there have recently been some changes to the code of ethics that you should be aware of. By understanding what is expected of you as you help customers buy and sell homes, you can avoid administrative issues that can lead to license loss.
Updates to Code of Ethics
One update to the Code of Ethics and Standards of Practice involves the submission of offers. When a cooperating broker submits an offer on behalf of a client, the listing broker must provide written notice of how the offer is handled. If the offer has been submitted or if the seller did not want the offer presented, the listing broker must let the other broker know in writing.
There are also changes related to publication of the names of those who violate the code of ethics. Publication occurs when there have been two violations within a three-year period. This does not change. What has been updated is the fact that an ethics citation discipline is not counted as a violation count unless the association has authorized publication. Associations have the option to increase the three-year timeframe for certain acts. The content of the publication may include photos and/or a description of the violation. The name of the company where the violator worked is not allowed.
Publication can occur when the violator has been disciplined with a letter, a fine, a suspension or an expulsion. The information can only be published in a communication vehicle intended for members of the association in which the violator is/was a member. If the publication is electronic, only association members can be granted access.
There have also been changes as to how the Grievance Committee will review an ethics complaint. Criminal and civil matters will be treated the same way. If the unethical conduct has led to civil or criminal litigation, Board legal counsel will be instructed to review the complaint and determine if a hearing is needed.
Keep Your License With Help From a Tampa Real Estate Broker License Lawyer
Real estate brokers handle the buying and selling of homes, which are the biggest asset most people own. As such, transactions must be handled with care and the highest degree of integrity.
With hundreds of thousands of dollars trading hands in real estate transactions, ethics issues often arise. If you are facing disciplinary action for an ethics violation, get help from The Law Offices of David P. Rankin, P.A. He was the attorney for the Greater Tampa Realtors from 2002 until 2019 and has been involved in more than 200 proceedings before the Florida Real Estate Commission. To schedule a consultation, call (813) 968-6633 or fill out the online form.
Resource:
nar.realtor/about-nar/policies/2019-summary-of-key-professional-standards-changes
https://www.davidrankinlaw.com/ethical-concerns-in-the-real-estate-field/