Realtor Code of Ethics Turns 100

Not A Coincidence Real Estate Ethics is Turning 100

With a shaky economic recovery in effect, all eyes are on real estate professionals

As many Americans attempt to re-enter or enter the real estate market for the first time, after having been financially shaken for an extended period, fear and trepidation are understandable.  However, now is also a time when an experienced real estate professional's expertise is urgently needed in spite of these fears.  I've met enough would-be buyers and sellers in my recent travels to convince me it is time to drive a particular point home.  Realtors have a code of ethics which is no less than 100 years old this year; let this fact stand as an assurance that generally speaking, if you are enlisting the aid of a (preferably experienced) real estate professional, you are in good hands. 

http://www.realtor.org/videos/video-origins-of-the-code-of-ethics

Real Estate is an American tradition, not just a profession

When Thomas Jefferson wrote the Declaration of Independence, and the Founding Fathers decided to "dissolve the political bands"  and become the United States of America, it's a safe bet they did not intend to rent the land the former British colonies were sitting on.  Land ownership, like home ownership, held the real life embodiment of the English Magna Carta-era sentiment "every Englishman's home is his castle" and all the promise of personal financial stability which goes with it.  Specialists in the creation and transfer of ownership of privately held real property (a rather new phenomenon in the 1700's) become welcome fixtures of the new free society emerging out of the former colonies.  The code of ethics for Realtors, established 100 years ago, sought to secure the honor of this tradition in the light of the industrial age.

How you can tell if your Realtor follows the code of ethics

There are at least a few more blogs worth of space which I will dedicate to the very worthy topic of Realtor-client relations, but for the purposes of this blog, I'll narrow some basic expectations outlined in the code of ethics turning 100 this year.   Three points stand out which provide even the most skeptical potential client some assurances.  Protect and promote your client's interest, but be honest with all parties.  Be careful at all times to present a true picture in their advertising and representations to the public.  Assure, whenever possible, that transactional details are in writing.  All of these tenants are not only good indicators of an ethical real estate professional, but their absence is usually quickly noticeable.

So put your fears aside in favor of careful observation and healthy expectation; buyers and sellers alike.  The time for Realtors to live up to their centenarian ethical code is now, while we are all called upon to restore what homeowners have lost and rebuild the economy itself one home at a time.

Ann Stefanucci
562-244-8021

714-822-9453
annstefanucci@gmail.com

www.annopoly.com