"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."
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 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 2018 Code of Ethics and Standards of Practice of the National Association of REALTORS® Click HERE>
For more information, please contact:
302.762.4800 ext. 116
All REALTORS® must abide by NAR's Code of Ethics and Standards of Practice. The Code of Ethics and Standards of Practice outline duties that REALTORS® have to clients and customers, the public, and other REALTORS®. While the Code of Ethics establishes obligations that may be higher than those mandated by law, in any instance where the Code of Ethics and the law conflict, the obligations of the law must take precedence.
The Code of Ethics, adopted in 1913, was one of the first codifications of ethical duties adopted by any business group. The Code ensures that consumers are served by requiring REALTORS® to cooperate with each other in furthering clients' best interests.
The Code is a living document subject to ongoing review to ensure it stays relevant. An updated version appears every January in REALTOR® Magazine.
Click Here to access the NAR Code of Ethics / Professional Standards Resources