CODE OF ETHICS
As a chartered member of the National Association of REALTORS®, the Board is responsible for enforcing the REALTOR® Code of Ethics of the National Association of REALTORS®. Our REALTOR® members agree to subscribe to the Code in their daily business practices.
NAR’s 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
Code of Ethics Commercial and Appraisal Modules
The Code of Ethics training offers a commercial real estate track, allowing participants to focus on industry-specific issues. To complete the online course through NAR, you must complete three categories: Introduction, Case Studies, and Electives. Once you’ve completed the course, send your certification of completion to info@ricabor.realtor.
Category 1: Introduction (Complete 1 Module)
Commercial Introduction
In this module, REALTORS® who specialize in commercial real estate will learn how the REALTOR® Code of Ethics applies to them. Students will examine specifically developed commercial content about: the aspirational concepts of the Preamble of the Code of Ethics, the concept of general business ethics and how it compares and contrasts with the duties in the REALTOR® Code of Ethics and how professional standards are enforced by associations of REALTORS®.
Appraisal Introduction
In this module, REALTORS® who specialize in appraisal will learn how the REALTOR® Code of Ethics applies to them. Students will examine specifically developed appraisal content about: the aspirational concepts in the Preamble of the Code of Ethics, the concept of general business ethics and how it compares and contrasts with the duties established in the REALTOR® Code of Ethics and how professional standards are enforced by the local associations of REALTORS®.
Category 2: Case Studies (Complete 2 Modules)
COMMERCIAL MODULES
Article 1—Commercial This module explains the important concepts of Article 1 of the Code of Ethics in commercial real estate. Students will review case studies and scenarios, examine Article 1’s Standards of Practice and learn to identify possible violations of the Article.
Article 12—Commercial This module explains the important concepts of Article 12 of the Code of Ethics in commercial real estate. Students will review case studies and scenarios. examine Article 12’s Standards of Practice and learn to identify possible violations of the Article.
APPRAISAL MODULES
Article 1—Appraisal This module explains the important concepts of Article 1 of the Code of Ethics in appraisal. Students will review case studies and scenarios. examine Article 1’s Standards of Practice and learn to identify possible violations of the Article.
Article 11—Appraisal This module explores the important concepts of Article 11 of the Code of Ethics in appraisal. Students will review case studies and scenarios. examine Article 11’s Standards of Practice and learn to identify possible violations of the Article
Category 3: Electives (Complete 2 Modules)
Choose any of the elective modules to complete this section. None specifically apply to commercial real estate.
Requirements
Effective January 1, 2001, all REALTOR® Members (this includes Appraisers) shall complete a training program on the Code of Ethics of not less than two hours and thirty minutes of instructional time. Any Code of Ethics training must meet the learning objectives and minimum criteria established by the National Association of REALTORS® (NAR). Thereafter, every member must complete this course once every two years. We are currently in the seventh Biennial period of January 1, 2022 – December 31, 2024.
New REALTORS®
As an obligation of membership, new REALTORS® must complete complete a course on the Code of Ethics of the National Association of REALTORS® within the first 120 days of their membership (2.5 hours) and must submit their certificate to us for our review. Only REALTOR® Code of Ethics classes offered by their local Board, their State Association or National Association of REALTORS® will be accepted per NAR.
Established REALTORS®
Established REALTOR® Members are required to complete a course on the Code of Ethics of the National Association of REALTORS® once every 3 years (a triennial-2.5 hours) and must submit their certificate to us for our review. We are currently in the 7th triennial (1/1/2022 – 12/31/2024).
Exemptions
Only REALTOR® Emeritus members or those who achieve the C2EX endorsement in this time frame are exempt.
Only REALTOR® Code of Ethics classes offered by their local Board, their State Association or National Association of REALTORS® will be accepted per NAR.
There is no grandfathering on this membership requirement. No exemption for Appraisers. No exemptions for Attorneys holding Broker’s Licenses. The only exemption is for REALTOR® Emeritus Members.
Filing an Ethics Complaint
From time to time, disputes may arise in real estate transactions between REALTOR® and REALTOR® or between a member of the public and a REALTOR®. Many common disputes arise out of lack of communication. Before you file an Ethics violation, please read this article. Should you wish to file an Ethics violation against a REALTOR® member, please be sure to check out our directory to verify that the individual is a member here. If the individual is not a member with us, they may possibly be a member of one of the other 4 Boards in Rhode Island. Violations must be registered with the appropriate Board the individual holds membership in.
For assistance with filing an ethics violation against a member, please contact our Association Executive Jack Hutson, at (401) 274-8386 or info@ricabor.realtor for further direction.
Additional resources on the Code of Ethics provided by the National Association of REALTORS®.
