Code of Ethics in the Real Estate Industry
Licensed professionals all have one thing in common: they have to abide by a code of ethics in order to keep their license. These ethics refer to values, practices and customs that a person must follow in order to be considered morally sound. When a person does not follow these customs, not only can they be considered immoral, but they can also face punishment such as license loss.
As a licensed professional, you never want to lose your license. Once you do, it is not easy to get it back. You may not be able to get your license back for several years or maybe even the rest of your life. Without a license, you cannot work, so you will have to find an alternative source of income.
The real estate industry is bound by ethics at the state and national levels. There are many situations in which a real estate agent can take advantage of a client or act in an immoral manner. If you are a real estate agent, find out how to keep your license.
Duties of a Real Estate Agent
The National Association of Realtors has a code of ethics that real estate agents must abide by. Real estate agents have many duties and responsibilities that they must abide by. They have duties that they must uphold to various groups of people. Most importantly, they have duties to their clients. They cannot be selfish and think solely about themselves. Their clients’ interests are the most important. This means they cannot mislead clients and lie to them or conceal the facts. They also cannot engage in conflicts of interest, which means representing themselves or family members.
Real estate agents also have duties to the public. They cannot provide services that they are not specialized in. They also cannot discriminate against someone based on their race, sex, religion or nationality. They also cannot engage in false or misleading advertising.
Real estate agents also have responsibilities to other real estate agents. They cannot engage in unfair competition by making false accusations about competitors. They also cannot steal clients from other real estate agents.
Keep Your License with Help From a Tampa Real Estate Sales Associate Licensing Lawyer
A real estate agent has duties to their clients, as well as to the public and other real estate agents. When a real estate agent fails to abide by the code of ethics at both the state and national levels, they can face various forms of punishment, including license suspension or revocation.
If you are a Florida real estate agent who is facing an investigation by the Florida Department of Business Regulation, Division of Real Estate or disciplinary action by the Florida Real Estate Commission, seek legal help right away. Your license is your livelihood, and you need to protect it. Seek legal help from David P. Rankin. Over the past three decades, he has represented several hundred real estate sales associates and brokers. He has represented the Greater Tampa Realtors since 2002. To schedule a consultation, call his office today at (813) 968-6633 or fill out the online form.