StraightTalk is a great place to start learning how living the code can help improve your business, but it’s no legal substitute for the Code of Ethics.
Thoughts on Article 15
Tempted to gossip? Hold your tongue.
For earning the trust and respect of your fellow REALTORS®, article 15 is an important issue. You can’t knowingly or recklessly make false or misleading statements about your competitors, their business or the way they conduct business. Have a real complaint? File it. But don’t make up things about other REALTORS®, because you only damage your own reputation.
Standard of Practice 15-1
Obviously it’s happened in the past, which is why this Standard of Practice exists, but don’t file false or unfounded ethics complaints against other REALTORS®. You’ll be much better served to talk through any issues you have with another agent or broker.
Standard of Practice 15-2
Your obligation to avoid making false or misleading statements about your competitors extends to repeating things other people have said. Don’t deal in gossip. Don’t pass on second-hand remarks, false or misleading statements. Don’t talk about it. Don’t email it. Don’t write it down.
Next: Working with other REALTORS®
Terms to Know:
Before we begin, there are several terms that appear in the Code of Ethics that could use a little clarification:
Client is anyone that you or your firm has a formal agreement to work with. It could be an agency relationship or you could be providing a non-contracted service.
Customer is a party to a real estate transaction who receives information, services or some other benefit from you, but doesn’t have a contract with you or your firm.
Prospect is a buyer, seller, tenant or landlord with whom you or your firm has no contract. An agent is anyone with a real estate license (though not necessarily a REALTOR®) acting in an agency relationship as defined by Virginia law.
Broker is someone with a real estate license (including brokers and sales associates) acting in an agency relationship as defined by state law or regulation; and “broker” means a real estate licensee (including brokers and sales associates) acting as an agent or in a legally recognized non-agency capacity.
REALTOR® is someone who has earned his/her real estate license and also earned the right to use the title. REALTORS® serve many roles in different real estate transactions. For our purposes, we mean the term to be all inclusive, whether the REALTOR® represents a buyer, seller, tenant or landlord. Whether they provide contracted services or provide a service without a contract.