REALTOR® Professional Standards
The Coeur d'Alene Regional REALTORS® is proud to adhere to and support the National Association of REALTORS® Code of Ethics. It was one of the first ethical duties adopted by any business group. The Code ensures that consumers are served by requiring REALTORS® to cooperate with each other in furthering clients' best interests.
NAR's Code of Ethics lies at the heart of being a REALTOR®. Since its adoption in 1913, the Code has promoted time-honored principles that are generally defined as:
Loyalty to clients
Fiduciary duty to clients
Cooperation with competitors
Truthfulness in statements and advertising and non-interference in exclusive relationships that other REALTORS® have with their clients.
Many difficulties between real estate professionals (whether REALTORS® or not) result from misunderstanding, miscommunication, or lack of adequate communication. If you have a problem with a real estate professional, you may want to speak with them or with a principal broker in the firm. Open, constructive discussion often resolves questions or differences, eliminating the need for further action.
If, after taking these steps, you still feel you have a grievance, you may want to consider filing an ethics complaint. You will want to keep in mind that . . .
- Only REALTORS® and REALTOR-Associates are subject to the Code of Ethics of the National Association of REALTORS®.
- If the real estate professional (or their Broker) you are dealing with is not a REALTOR®, your only recourse may be the state real estate licensing authority or the courts.
- Boards and Associations of REALTORS® determine whether the Code of Ethics has been violated, not whether the law or real estate regulations have been broken. Those decisions can only be made by the licensing authorities or the courts.
- Boards of REALTORS® can discipline REALTORS® for violating the Code of Ethics. Typical forms of discipline include attendance at courses and seminars designed to increase REALTORS®' understanding of the ethical duties or other responsibilities of real estate professionals. REALTORS® may also be reprimanded, fined, or their membership can be suspended or terminated for serious or repeated violations.
- Boards and Associations of REALTORS® cannot require REALTORS® to pay money to parties filing ethics complaints; can-not award “punitive damages” for violations of the Code of Ethics; and cannot suspend or revoke a real estate professional’s license.
- The primary emphasis of discipline for ethical lapses is educational, to create a heightened awareness of and appreciation for the duties the Code imposes. At the same time, more severe forms of discipline, including fines and suspension and termination of membership may be imposed for serious or repeated violations.
NAR's Board of Directors approved a change to the Code of Ethics training requirement, extending it from every two years to every three years. January 1st, 2022 began a new cycle and will end on December 31st, 2024.
REALTORS® are required to complete ethics training of not less than 2 hours, 30 minutes of instructional time. The training must meet specific learning objectives and criteria established by the National Association of REALTORS®.
Training may be completed through NAR’s online courses or through CCR.
*If you find out you still need your Code of Ethics. You can take it online for FREE.
Note: On November 13, 2020, NAR's Board of Directors added Standard of Practice 10-5 to the Code of Ethics, and amended Professional Standard #29, both of which are effective immediately. For details on all the changes adopted, visit Code of Ethics & Professional Standards Policies.