REALTOR COE Changes  

REALTOR Code of Ethics Changes for 2007.    

A number of new professional standards changes were approved at the National Association of REALTORS annual convention in New Orleans. Additions and changes were made to Articles 12, 15 and 17.  

Two new case interpretations were added for Article 6, one for Article 12, a white paper explaining why hearing panels decision do not include rationales and several forms were also revised.

While The Two most important changes were to Article 12, I have included all the changes…even the little ones that as I think all REALTORS should be aware of, especially if you like keeping track of your stats. These come directly from my committee member agenda and my copy of the BOD meeting handout. These changes become effective 1/1/07

Approved changes to Article 12:        

1.   REALTORS intending to share or sell consumer information gathered via the Internet shall disclose that possibility in a reasonable and readily apparent manner.

The rationale is "The proposed new Standard of Practice will protect consumers by giving them advance notice where information they give to REALTORS via REALTORS websites will be shared with, or sold to, third parties."

2.  REALTORS obligation to present a true picture in their
advertising and representations to the public includes the URLs and domain names they use, and prohibits REALTORS from:

 (1) Engaging in deceptive or unauthorized framing of real estate brokerage websites;

 (2) Manipulating (e.g. presenting content developed by others) listing content in any way that produces a deceptive or misleading result; or

 (3) Deceptively using metatags, keywords or other devices/methods to direct, drive or divert Internet traffic, or to otherwise mislead consumers."

The rationale is: "This new Standard of Practice is intended to clarify that Article 12's 'true picture' obligation prohibits deceptive and unauthorized framing of other real estate websites; manipulating listing content to
produce a deceptive or misleading result; and using Internet tools to deceptively direct, drive or divert consumers from their intended Internet destinations."

Article 15

The obligation to refrain from making false or misleading statements about competitors’ businesses and competitors’ business practices includes the duty to not knowingly or recklessly repeat, retransmit or republish false or misleading statements made by others. This duty applies whether false or misleading statements are repeated in person, in writing, by technological means (e.g. the Internet), or by any other means.

Rational: Article 15 prohibits REALTORS from knowingly or recklessly making false or misleading statements the new standard attempts to clarify two things.

1. The duty to refrain also includes repeating, republishing or retransmitting false or misleading statements.

2. The duty also applies these statements whether made personally, in writing or through technological means including the internet.

Article 17

Standard of Practice adopted clarifies the duty to arbitrate disputes between REALTORS in different states where no inter-association agreement exists but where complainants submit to the jurisdiction of the respondents association.

Amendments

Were made to the Code of Ethics Arbitration Manual regarding unauthorized disclosure relating to tribunal members and to parties and includes any report or publication not established in the manual.

Added as an Approved disclosure now includes:

“Where providing the decision of an arbitration panel to an association of REALTORS or  an MLS will enable that entity to correct records of sale or lease transactions or other historical records…in other words giving credit for a sale to someone prevailing in arbitration”

This last one will make people who are into keeping or tracking stats happy…I think.