Williamsburgs Real Estate Blog and more!

March 31st, 2008 8:36 AM

The Code of Ethics and how well we understand it and explain it, is the difference between dealing with a REALTOR® and a Real Estate Agent.

Confused? That's because very seldom is it explained or talked about except among REALTORS®. ALL  Virginia Real Estate Agents have to be licensed in the Commonwealth of Virginia, and can act in a number of various roles to help you buy or sell Real Property anywhere in the Commonwealth.

REALTORS® are those agents that belong to the National Association of REALTORS (NAR) and agree to adhere to a strict Code of Ethics. There are 17 articles which define the duties we perform. Real Estate agents are those licensed individuals/brokers that have chosen for whatever reason, not to join the NAR. Membership is voluntary. To that end, Real Estate agents may choose to any of the articles during the course of their business, but do not pay dues to the NAR, thus cannot be held accountable when they fail to adhere to the Code. They cannot identify themselves as REALTORS®.

The first article in the Code is to promote and protect the interest of the client-that person who has engaged our service. That single commitment is paramount to your satisfaction and understanding that your interest come first. The remaining 16 articles have to do with duty, obligations, between agents,brokers,the public and the governing bodies of the NAR and local Real Estate Boards.

Make sure you know who your trusting your single most important asset with.

For more on the Code and to see all 17 article please refer to this site www.JimMellen.com/ethics


Posted by Jim Mellen on March 31st, 2008 8:36 AMPost a Comment (0)

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