Is the golden rule in the real estate Code of Ethics?

Is the Golden Rule in the Code of Ethics?

The most familiar version of the Golden Rule says, “Do unto others as you would have them do unto you.” Moral philosophy has barely taken notice of the golden rule in its own terms despite the rule’s prominence in commonsense ethics.

Is the Golden Rule quoted in the Code of Ethics Preamble?

Near the end of the Preamble, the timeless, universal principle of the Golden Rule is cited. Because the Code sets the ideals that we strive to attain, it is subjective in nature. As such, it cannot be used as a basis for disciplinary action against a REALTOR®.

What are the 3 major sections of the Code of Ethics?

The Code of Ethics is divided into three major sections, “Duties to Clients and Customers,” “Duties to the Public,” and “Duties to REALTORS.”

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What is Ethics in real estate?

Realtors must be fair and honest when advertising and accepting new clients. Communication with the public needs to be open, truthful and honest. Misrepresenting facts or claiming another realtor’s work is wrong. Realtors should not deny services to members of the public based on skin color, sex or nationality.

What is the Golden Rule in real estate?

In its final paragraphs, the Preamble cites the Golden Rule: “In the interpretation of (these) obligation(s), REALTORS® can take no safer guide than that which has been handed down through the centuries, embodied in the Golden Rule, ‘Whatsoever ye would that others should do to you, do ye even so to them. ‘”

Why is the Golden Rule important?

The Golden Rule underlies acts of kindness, caring, and altruism that go above and beyond “business as usual” or “usual care” (Huang, 2005). As such, this heuristic or ‘rule of thumb’ has universal appeal and helps guide our behaviors toward the welfare of others.

What is Preamble in real estate?

Clause at the beginning of a legislative statute explaining its purpose.

When the Code of Ethics was adopted there were no real estate licensing laws?

The Code of Ethics was adopted in 1913. Before then, the real estate industry had a history of speculation, exploitation and disorder. There were no real estate licensing laws. Real estate practitioners, if licensed at all, were licensed as peddlers.

What are the Code of Ethics?

The purpose of a code of ethics is to inform those acting on behalf of the organization how they should conduct themselves. A code of ethics reiterates the organization’s values and morals so that employees and third parties understand the standards they are accountable to uphold.

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What are the 5 codes of ethics?

What are the five codes of ethics?

  • Integrity.
  • Objectivity.
  • Professional competence.
  • Confidentiality.
  • Professional behavior.

Why are Ethics important in real estate?

The real estate industry encourages the highest level of ethics in business practice to promote and preserve the right to own, use, exchange, and transfer real property. It’s imperative that practitioners within the industry know ethical standards, understand why they’re important, and abide by them.

Why was the real estate Code of Ethics created?

The NAR’s Code of Ethics was created in 1913 to ensure that a client who’s buying or selling a property is treated fairly by the Realtor handling the transactions.

Are there Ethics in real estate?

The NAR Code of Ethics sets the standard for Realtor business practices. Its 17 articles provide standards for conduct with clients and customers, the public, and other Realtors.

Are real estate agents bound by a Code of Ethics?

The Real Estate Agents Act (Professional Conduct and Client Care) Rules 2012 (Code of Conduct) set out the standard of professional conduct and client care required of agents, branch managers and salespersons.