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Realtor code of ethics marks 100 years

May 19, 2013

Dedication to core values and commitment to excellence are two of the ideals highlighted in the National Association of Realtors’ Code of Ethics.

The code, which sets Realtors apart from other licensed real estate agents, marks its 100th anniversary this year.

“As members of the National Association of Realtors, we subscribe to a strict code of ethics that governs how we do business,” Betty Hays, president of the Pen-Mar Regional Association of Realtors, said in a news release. “The term Realtor is a registered collective membership that identifies a licensed real estate professional who is a member of NAR, the Maryland and/or Pennsylvania Association of Realtors and the Pen-Mar Regional Association of Realtors.”

The code of ethics outlines professional responsibilities to clients, customers, other Realtors and the general public. When NAR adopted its code of ethics in 1913, it was only the second trade or business group in the U.S. to adopt mandatory ethical standards.

More home buyers and sellers are using Realtors in their real estate transactions. According to the 2012 NAR Profile of Home Buyers and Sellers, unassisted transactions are at all-time lows, with only 9 percent of sellers choosing to sell their homes without the help of an agent.

Nine out of 10 buyers and sellers said they would use the same agent again or recommend that agent to others.

All Realtors must take regular Code of Ethics training to retain their membership.

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