Article 17 of the National Association of REALTORS® Code of Ethics:
"In the event of contractual disputes or specific non-contractual disputes defined in Standard of Practice 17-4 between REALTORS® (principals) associated with different firms, arising out of their relationship as REALTORS®, the REALTORS® shall submit the dispute to arbitration in accordance with the regulations of their Board or Boards rather than litigate the matter.
In the event clients of REALTORS® wish to arbitrate contractual disputes arising out of real estate transactions, REALTORS® shall arbitrate those disputes in accordance with the regulations of their Board, provided the clients agree to be bound by the decision.
The obligation to participate in arbitration contemplated by this Article includes the obligation of REALTORS® (principals) to cause their firms to arbitrate and be bound by any award."
Did you know as a NCCBOR member,
you can offer your clients non-binding mediation services?
Mediation produces amicable resolutions and can be a useful tool in resolving a conflict. NCCBOR will provide a professionally trained mediator to assist your clients in resolving disputes. The non-binding nature of mediation means that a decision cannot be imposed on the parties. In order for any settlement to be concluded, the parties must voluntarily agree to accept it. Unlike a judge or an arbitrator, therefore, the mediator is not a decision-maker. If you are a NCCBOR member and you have two parties that are interested in going to mediation, please complete and return the following form.
The Code of Ethics and Arbitration Manual is used by REALTOR® Associations to ensure due process while conducting hearings to enforce NAR Code of Ethics and the arbitration of contractual and specific non-contractual disputes as defined in Standard of Practice 17-4 arising out of the real estate business.
The request for arbitration must be filed within one hundred eighty (180) days after the closing of the transaction, if any, or within one hundred eighty (180) days after the facts constituting the arbitrable matter could have been known in the exercise of reasonable diligence, whichever is later.
The contents of the Manual include: ethical policies/procedures/forms, arbitration policies/procedures/forms, professional standards questions and answers, the Professional Standards Training Guide, and the Interpretations of the Code of Ethics.
To access an electronic version of the The 2019 Code of Ethics and Standards of Practice of the National Association of REALTORS® Click HERE>
Arbitration Complaints go to mandatory mediation.