to all parties and the informed consent of the REALTOR®’s client or
clients. (Amended 1/93)
Article 8
REALTORS® shall keep in a special account in an appropriate
nancial institution, separated from their own funds, monies coming
into their possession in trust for other persons, such as escrows, trust
funds, clients’ monies, and other like items.
Article 9
REALTORS®, for the protection of all parties, shall assure whenever
possible that all agreements related to real estate transactions
including, but not limited to, listing and representation agreements,
purchase contracts, and leases are in writing in clear and
understandable language expressing the specic terms, conditions,
obligations and commitments of the parties. A copy of each
agreement shall be furnished to each party to such agreements
upon their signing or initialing. (Amended 1/04)
• Standard of Practice 9-1
For the protection of all parties, REALTORS® shall use reasonable
care to ensure that documents pertaining to the purchase, sale,
or lease of real estate are kept current through the use of written
extensions or amendments. (Amended 1/93)
• Standard of Practice 9-2
When assisting or enabling a client or customer in establishing
a contractual relationship (e.g., listing and representation
agreements, purchase agreements, leases, etc.) electronically,
REALTORS® shall make reasonable efforts to explain the nature
and disclose the specic terms of the contractual relationship
being established prior to it being agreed to by a contracting
party. (Adopted 1/07)
Duties to the Public
Article 10
REALTORS® shall not deny equal professional services to any person
for reasons of race, color, religion, sex, handicap, familial status,
national origin, sexual orientation, or gender identity. REALTORS®
shall not be parties to any plan or agreement to discriminate
against a person or persons on the basis of race, color, religion,
sex, handicap, familial status, national origin, sexual orientation, or
gender identity. (Amended 1/14)
REALTORS®, in their real estate employment practices, shall not
discriminate against any person or persons on the basis of race,
color, religion, sex, handicap, familial status, national origin, sexual
orientation, or gender identity. (Amended 1/14)
• Standard of Practice 10-1
When involved in the sale or lease of a residence, REALTORS®
shall not volunteer information regarding the racial, religious
or ethnic composition of any neighborhood nor shall they
engage in any activity which may result in panic selling, however,
REALTORS® may provide other demographic information.
(Adopted 1/94, Amended 1/06)
• Standard of Practice 10-2
When not involved in the sale or lease of a residence, REALTORS®
may provide demographic information related to a property,
transaction or professional assignment to a party if such
demographic information is (a) deemed by the REALTOR® to
be needed to assist with or complete, in a manner consistent
with Article 10, a real estate transaction or professional
assignment and (b) is obtained or derived from a recognized,
reliable, independent, and impartial source. The source of
such information and any additions, deletions, modications,
interpretations, or other changes shall be disclosed in reasonable
detail. (Adopted 1/05, Renumbered 1/06)
• Standard of Practice 10-3
REALTORS® shall not print, display or circulate any statement or
advertisement with respect to selling or renting of a property
that indicates any preference, limitations or discrimination based
on race, color, religion, sex, handicap, familial status, national
origin, sexual orientation, or gender identity. (Adopted 1/94,
Renumbered 1/05 and 1/06, Amended 1/14)
• Standard of Practice 10-4
As used in Article 10 “real estate employment practices” relates to
employees and independent contractors providing real estate-
related services and the administrative and clerical staff directly
supporting those individuals. (Adopted 1/00, Renumbered
1/05 and 1/06)
• Standard of Practice 10-5
REALTORS®
must not use harassing speech, hate speech, epithets,
or slurs based on race, color, religion, sex, handicap, familial status,
national origin, sexual orientation, or gender identity. (Adopted
and effective November 13, 2020)
Ar t icle 11
The services which REALTORS® provide to their clients and
customers shall conform to the standards of practice and
competence which are reasonably expected in the specic real
estate disciplines in which they engage; specically, residential
real estate brokerage, real property management, commercial
and industrial real estate brokerage, land brokerage, real estate
appraisal, real estate counseling, real estate syndication, real estate
auction, and international real estate.
REALTORS® shall not undertake to provide specialized professional
services concerning a type of property or service that is outside
their eld of competence unless they engage the assistance of one
who is competent on such types of property or service, or unless
the facts are fully disclosed to the client. Any persons engaged to
provide such assistance shall be so identied to the client and their
contribution to the assignment should be set forth. (Amended 1/10)
• Standard of Practice 11-1
When REALTORS® prepare opinions of real property value or
price they must:
1) be knowledgeable about the type of property being valued,
2) have access to the information and resources necessary to
formulate an accurate opinion, and
3) be familiar with the area where the subject property is
located
unless lack of any of these is disclosed to the party requesting the
opinion in advance.
When an opinion of value or price is prepared other than in
pursuit of a listing or to assist a potential purchaser in formulating
a purchase offer, the opinion shall include the following unless the
party requesting the opinion requires a specic type of report or
different data set:
1) identication of the subject property
2) date prepared
3) dened value or price
4) limiting conditions, including statements of purpose(s) and
intended user(s)
5) any present or contemplated interest, including the
possibility of representing the seller/landlord or buyers/
tenants
6) basis for the opinion, including applicable market data
7) if the opinion is not an appraisal, a statement to that effect
8) disclosure of whether and when a physical inspection of the
property’s exterior was conducted
9) disclosure of whether and when a physical inspection of the
property’s interior was conducted
10) disclosure of whether the REALTOR® has any conicts of
interest (Amended 1/14)
• Standard of Practice 11-2
The obligations of the Code of Ethics in respect of real estate
disciplines other than appraisal shall be interpreted and applied in
accordance with the standards of competence and practice which