LoCAR Members Adhere to the REALTOR® Code of Ethics
Jeff Russell, 2009 President, Lorain County Association of REALTORS®
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| Jeff Russell
2009 LoCAR President |
September 22, 2009 --
“Under all is the land. Upon its wise utilization and widely allocated ownership depend the survival and growth of free institutions and of our civilization.” These are the first two sentences in preamble of the Code of Ethics and Standards of Practice of the National Association of REALTORS®. They set the tone of the Code of Ethics by which all REALTORS® are instructed to follow.
The importance of ethics in business makes headlines every day and has never been more top of mind with consumers than it is right now. It is no longer enough for a company to produce a quality product or service; consumers want to know they can trust the individuals with whom they do business -- especially when it involves a real estate transaction.
For 100 years, REALTORS® have subscribed to one of the oldest business codes of ethics for trade groups in the country. The adherence to the REALTOR® Code of Ethics serves and protects the public in the sale and purchase of real property.
In many ways, consumers today are just like those at the turn of the last century – they deserve and demand honesty, integrity, and commitment from the professionals who serve them. Today’s home buyers and sellers, however, confront real estate realities never envisioned 100 years ago, with local, state and federal disclosure requirements, environmental regulations, and an expanding universe of mortgage and financing options. More than ever, home buyers and sellers need to know that their real estate professional is someone they can trust. The Code of Ethics also establishes a consumer protection process to receive ethics complaints from the clients and customers of REALTORS®.
Only REALTORS®, as members of the National Association of REALTORS® (NAR), subscribe to a comprehensive Code of Ethics that complements our Ohio licensing requirements for real estate salespersons. Real estate professionals who are not REALTORS® do not subscribe to this Code. Buying or selling a home involves many decisions; choosing a REALTOR® to protect your interests is the best one you can make.
NAR established the training program to:
- Heighten member awareness of the key tenets of the Code of Ethics
- Create an awareness of and appreciation for the role the Code can and should play in members' professional lives
- Enhance professionalism and competency
- Encourage REALTORS® to view their Code of Ethics as a living, viable guide in their daily dealings with clients, customers and the public
Consumers can learn more about NAR’s Code of Ethics by clicking here, or by asking a REALTOR® for a copy of the Code of Ethics.
The National Association of REALTORS®, “The Voice for Real Estate,” is America’s largest trade association, representing more than one million members involved in all aspects of the residential and commercial real estate. The Lorain County Association of Realtors® (Website | Profile) is one of more than 1,400 local boards and associations of REALTORS® nationwide that comprise the National Association of REALTORS®.
The Lorain County Association of REALTORS® offers a website that provides a complete listing of REALTOR® real estate brokerages in Lorain County, contact information for REALTOR® members, and industry associates. If you are a first time homebuyer or a repeat buyer consider www.MyNewCommunity.net or www.LoCAR.org as a good source for Lorain County REALTOR® information.