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The REALTORS®’ Code of Ethics was established in 1913 by the National Association of REALTORS®. It’s a set of rules that were established to raise the standards of professionalism and service in the real estate industry. The rules are divided into three areas: 1) a broker’s duties to his clients, 2) a broker’s duties to his fellow brokers and 3) a broker’s duties to the public. The current Code of Ethics contains seventeen articles.
Over its one hundred year history, the Code of Ethics has been amended and revised to keep up with the changing times. Local REALTOR® Associations are charged with enforcing the Code of Ethics and handing down punishment to those found to be in violation of one or more of the articles.
To keep REALTORS® up to date on the Code of Ethics, the National Association of REALTORS® requires all REALTORS® to take a training course on the subject every four years.
In recognition and appreciation of their obligations to clients, customers, the public, and each other, REALTORS® continuously strive to become and remain informed on issues affecting real estate and, as knowledgeable professionals, they willingly share the fruit of their experience and study with others.
Source: National Association of REALTORS®
In addition to being a poor investment, these projects will often hurt the future sale of your home:
- Turning a bedroom into another type of space
- Installing an above ground pool
- Not keeping paint colors neutral
- Installing a hot tub
- Creating themed children’s bedrooms
When making changes or improvements to your home, always ask the question; how will this affect my home’s value and marketability when it’s time to sell?
- A clean uncluttered home sells
- Homes priced right sell
- Selling a home is inconvenient
- Repairs left undone will cost you more money than the repair itself
- Overpricing your home will help to sell your neighbor’s home
- Buyers love to grill sellers that are present for home showings
- Smelly homes sell for less money
- Cash is not always king
- Well maintained homes sell for more money
The number of applications for real estate licenses is up in many areas of the country due to the improving real estate market. The National Association of REALTORS® added 42,000 agents in 2013, which marked the first increase in about seven years.
If your are considering a career in real estate or are looking to return to the business, then click on the link below to find out more about Ferguson Realtors and what we can offer you to make your real estate career a success.