Real Estate Agent? Realtor? What’s the Difference? Realtors obey to a strict Code of Ethics
REALTOR® vs. Licensed Broker
Real estate transactions are complicated. They involve the single most expensive purchase a majority of people will ever make. And they involve strong emotions. Think about the reasons for the sale and purchase of property, and ask yourself if you need another worry during this stressful time. It’s wise to have a licensed Broker on your side. But it’s best to have a REALTOR® on your side – a licensed Broker who also belongs to a local, state, and national professional development association and follows a strict Code of Ethics.
The REALTOR® Code of Ethics is a lengthy document that includes numerous standards of practice. It’s also a living document, so REALTORS® are required to review the Code on a regular basis. Currently every 4 years. That changes to every 2 years in 2017.
REALTOR® Code of Ethics At-a-Glance
- Truthfulness in statements and advertising
- Loyalty to and fiduciary (financial and legal) duty to clients
- Cooperation with competitors, including non-interference in exclusive relationships that other REALTORS® have with clients