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REAL ETHICS by Steve Stazel | July
2006 | Index of all Real Ethics columns
Another time NOT to follow the Code
Yes, there are times when we DO NOT follow the Code of Ethics.
The reason is that, in a few instances, the Code and rulings of the Real Estate Commission are not in agreement.
“Wait a minute,” you might say. “Why would we have a Code of Ethics that is in violation of Real Estate Commission rules?”
You ask a good question. The Code applies to all REALTORS® in all 50 states. So here is the problem…How do we get a Code of Ethics that applies to ALL 50 states to be congruent with the rulings of each of the 50 states’ real estate commissions? The answer is, WE DON’T.
In a column last year, I told you about one place in the Code that is not followed in Colorado. Here is another.
Standard of Practice 12-6 states…”REALTORS®, when advertising unlisted real property for sale/lease in which they have an ownership interest, shall disclose their status as both owners/landlords and as REALTORS® or real estate licensees.”
Well, the Colorado Real Estate Commission takes a different view of advertising your own unlisted property for sale/lease.
Real Estate Commission rule E-8 states in part that “A real estate licensee who performs any act requiring a license, including advertising services or advertising property belonging to another, shall do so in the name of the employing broker; except that a licensed employee may advertise property owned by such employee without complying with this rule if the property is not listed for sale with the employing broker.”
As a result of Rule E-8, Standard of Practice 12-6 does not appear to me to be valid in Colorado. However, if you do advertise your own non-listed property for sale, let me encourage you to include the phrase “OWNER/AGENT” in the ad. One reason to do this is to let anyone calling on your ad know that you are a licensee. The other reason for this suggestion is to discourage everyone who has received their real estate license in the last six months from calling you and telling you why you should list the property with them!
Each month, the Aurora Association of REALTORSŪ Web site features Real Ethics,
a column by Steve Stazel devoted to explaining Code of
Ethics issues for members. A REALTORŪ since 1974, Stazel is a Professional Standards
instructor and senior Ethics
instructor for the Colorado Association of REALTORSŪ.
If you have an ethical concern or an issue you would like
to see addressed, please call Stazel at (303) 773-3333 or e-mail him at
stazels@msn.com. The comments of this article reflect the understanding and
opinions of the author and do not represent an official expression of policy by the National Association
of REALTORSŪ.
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