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Code of Ethics Case Studies

Duties to Clients and Customers
Articles 1 to 9
   Duties to the Public   
Articles 10 to 14
   Duties to REALTORS®   
Articles 15 to 17

Duties to Clients and Customers - (Articles 1 to 9)

ARTICLE 1
Protect and Promote Your Client's Interests, But be Honest with All Parties
Case #1-1: Fidelity to Client
Case #1-2: Honest Treatment of All Parties
Case #1-3: Net Listing
Case #1-6: Fidelity to Client's Interest
Case #1-7: Obligation to Protect Client's Interests
Case #1-8: Knowledge of Essential Facts
Case #1-10: Obligations Under Exclusive Listing
Case #1-13: Obligation to Present Subsequent Offers After an Offer to Purchase
Has Been Accepted by the Seller
Case #1-14: Conditioning Submission of Purchase Offer on Execution of a
Prelisting Agreement
Case #1-15: Obligation to Advise Client on Market Value
Case #1-16: Obligation to Advise Client of Market Value
Case #1-18: REALTOR® Not Responsible for Legal Advice
Case #1-20: REALTORS® Buying and Selling to One Another
Are Still Considered REALTORS
®
Case #1-23: Claims of Guaranteed Savings
Case #1-26: Subordination of Client's Interests to REALTORS®'s Personal Gain
Case #1-28: Disclosure of Existence of Offers to Prospective Purchasers
Case #1-29: Multiple Offers to be Presented Objectively
Case #1-30: Multiple Offers Where Listing Broker Agrees to Reduce Listing
Broker's Commission
Case #1-31: Protecting Client's Interest in Auction Advertised as "Absolute"
 
ARTICLE 2
Avoid Exaggeration, Misrepresentation, and Concealment of Pertinent Facts.
Do Not Reveal Facts that are Confidential Under the Scope of Your Agency Relationship
Case #2-1: Disclosure of Pertinent Facts
Case #2-2: Responsibility for Sales Associate's Error
Case #2-3: Obligation to Disclose Defects
Case #2-4: Obligation to Ascertain Pertinent Facts
Case #2-6: Misrepresentation
Case #2-8: Misrepresentation
Case #2-9: REALTOR®'s Responsibility for REALTOR-Associate®'s Statement
Case #2-10: Use of State Revenue Stamps to Mislead
Case #2-14: Time at Which Modification to Offer of Subagency is Communicated is a Determining Factor
Case #2-15: Refusal to Divulge Source of Fraudulent Information
Case #2-16: Falsification of Credit Information
Case #2-18: Honest Treatment of All Parties
Case #2-19: Deceptive Information in MLS Compilations
 
ARTICLE 3
Cooperate with Other Real Estate Professionals to Advance Client's Best Interests
Case #3-1: Rules of MLS May Not Circumvent
Case #3-4: Cooperation Not Mandatory
Case #3-5: Refusal to Extend Cooperation In Sale of New Homes
Case #3-7: Time at Which Modification to Offer of Compensation is Communicated is a Determining Factor
Case #3-8: REALTOR®'s Obligation to Disclose Dual Commission Arrangements
Case #3-9: REALTOR®'s Obligation to Disclose True Nature of Listing Agreement
Case #3-10: Disclose Accepted Offers with Unresolved Contingencies
 
ARTICLE 4
When Buying or Selling, Make Your Position in the Transaction or Interest Known
Case #4-1: Disclosure when Buying on Own Account
Case #4-2: Indirect Interest in Buyer
Case #4-3: Disclosure of Family Interest
Case #4-4: Responsibility for Subordinates
Case #4-6: Disclosure of Secured Interest in Listed Property
 
ARTICLE 5
Disclose Present or Contemplated Interest in Any Property to All Parties
Case #5-1: Contemplated Interest in Property Appraised
 
ARTICLE 6
Avoid Side Deals without Client’s Informed Consent
Case #6-1: Profit on Supplies Used in Property Management
Case #6-2: Manager's Use of Client's Property for Vending Machines
Case #6-3: Management Responsibility in Relation to Manager's Enterprises
Case #6-4: Acceptance of Rebates From Contractors
Case #6-5: Advertising Real Estate-Related Products and Services
Case #6-6: Disclose Affiliated Business Relationships Prior to Recommending Real Estate-Related Products or Services
 
ARTICLE 7
Accept Compensation from Only One Party, Except with Full Disclosure and Informed Consent
Case #7-1: Acceptance of Compensation from Buyer and Seller
 
ARTICLE 8
Keep the Funds of Clients and Customers in Escrow
Case #8-1: Failure to Put Deposit in Separate Account
Case #8-2: Request for Investigation Filed by Board with the State Real Estate Commission
 
ARTICLE 9
Assure, Whenever Possible, that Transactional Details are in Writing
  No Case Studies are currently available.
   

 
 
 
 
 
 



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