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REAL ETHICS by Steve Stazel | February 2010 | Index of all Real Ethics columns
Two recent changes to the Code of Ethics
As mentioned in last month’s Real Ethics article, several changes to the Code of Ethics became effective Jan. 1. This month, I would like to discuss two of those changes which I think are significant and long overdue.
First, I would like to discuss the new Standard of Practice 3-9 which states that: "REALTORS® shall not provide
access to listed property on terms other than those established by the owner or the listing broker." For many years, the Colorado Real Estate Commission (CREC) has advised, in more formal language, DO NOT ALLOW YOUR BUYERS TO ENTER A LISTED PROPERTY WITHOUT YOU! It appears to me that the Code has now finally stated that same concept.
The second major change that I see is the revised Standard of Practice 12-5 which states that: "REALTORS® shall not advertise nor permit any person employed by or affiliated with them to advertise real estate services or listed property in any medium (e.g., electronically, print, radio, television, etc.) without disclosing the name of that
REALTOR’S® firm in a reasonable and readily apparent manner.”
The revision here is the addition of three words, "real estate services." Now, in addition to disclosing our brokerage name in advertisements for listed property, it appears to me that we are required to disclose our brokerage name when we are advertising for buyers or sellers. It appears to me that this change would also include online social media sites. I think this could also apply to TEAMS. In advertisements
by "teams," shouldn't the brokerage name be included?
The CREC has also stated its position on this in Rule C-19 (e), (f ), (g), (h), and (i). For those few brokers who are not completely familiar with Rule C-19, it states in essence that:
1. No broker shall advertise in such a manner as to mislead the public as to the identity of the licensed broker.
2. Except for franchise names, unlicensed trade names (could this mean teams?) must clearly and unmistakably
include licensed name.
Each month, the Aurora Outlook features RealEthics, a column by Steve Stazel devoted to explaining Code of Ethics issues for members. The comments stated in this article are those of the author and do not necessarily represent the views of the National Association of REALTORS®, the Colorado Association of REALTORS® or the Aurora Association of REALTORS®. Ultimately, a hearing panel of the Professional Standards Committee determines whether a violation of the Code of Ethics has occurred on a case-by-case basis. These comments should not serve as the foundation of any ethics complaint, arbitration request or response.
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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