Code of Ethics for Real Estate

COURSE DESCRIPTION:

This module covers the standards of conduct and ethical judgment by addressing the different concepts that contribute to ethical business practices. This module will introduce the student to ethics and morals by defining both terms in order to distinguish differences between the two. The student will also learn the four approaches to ethical decision-making; therefore, after learning the Articles and Standard Practices of the NAR® Code of Ethics, the student will be able to use the model identify any violations of the Code. This module will include seven lessons. Lesson One will introduce the concept of ethics and morals. Lesson Two will introduce four approaches to making ethical business decisions and a model for ethical decision making. Lesson Three will present an overview of the NAR® Code of Ethics including the concept of aspirations within the Pre-Amble and the Articles and Standard Practices in the NAR® Code of Ethics. In Lesson Four, participants will use case studies to apply the model for making ethical decisions, which includes using the four approaches to business ethics while utilizing the NAR® Code of Ethics. Lesson Five focuses on ethics complaints, arbitration and mediation. Lesson 6 will conclude the course with a discussion of unethical conduct, antitrust laws and violations of antitrust laws and professional and ethical business practices. Lesson 7 will conclude the module with a presentation of real world situations and applications of the information presented. As the student completed this module, he or she should try to paint a big picture of the code of ethics, which the module will address with comprehensive content questions, practices, and case studies.

LEARNING OBJECTIVES:

• Identify the definition of ethics used in this course.
• Briefly describe the four business ethics approaches used in this course .
• List major categories of the Articles of the NAR® Code of Ethics.
• Describe the structure of the NAR® Code of Ethics and its supporting materials.
• Identify at least two aspirational concepts in the Preamble to the NAR® Code of Ethics, describe the concept of general business ethics and identify how the Code of Ethics compares and contrasts with the concept of general business ethics.
• Describe the concepts of at least two of the following Articles of the Code of Ethics: Articles 1, 2, 3, 9, 11, 12, 16, and 17.
• Identify possible violations of the NAR® Code of Ethics given interactive learning methods such as case studies, quizzes, role playing and group discussion of fact scenarios.
• Briefly describe the professional standards enforcement process of a local board or association.
• Differentiate between intentional fraud, negligent misrepresentation and negligence.
• List the three violations of antitrust laws: price fixing, group boycotts and market allocations.
• Describe how the existence of and adherence to the NAR® Code of Ethics is good for the real estate profession.

TOPICS COVERED:

• INTRODUCTION
• LESSON 1: NAR CODE OF ETHICS AND STANDARDS OF PRACTICE Preamble Duties To Clients And Customers
• LESSON 2: NAR CODE OF ETHICS AND STANDARDS OF PRACTICE Duties To The Public
• LESSON 3: NAR CODE OF ETHICS AND STANDARDS OF PRACTICE Duties To Real Estate Agents
• LESSON 4: NAR CODE OF ETHICS AND STANDARDS OF PRACTICE Intentional Fraud Negligent Misrepresentation
  Negligence
  Sources for Disciplinary Action against Real Estate Licensees
  Antitrust Laws
  Price Fixing
  Group Boycotts
  Market Allocation
  Tying Arrangements
  What can a REALTOR® do?
  Criticism
  Participation in Enforcement of Law, Regulations, and the Code of Ethics
  Exclusive Representation
  Sharing knowledge and experience
  Avoidance of unfair advantage
  NAR Code of Ethics
  

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