Your question: Why was the real estate Code of Ethics created?

What is the purpose of code ethics?

The aim of a code of ethics is to provide guidance for group members to avoid situations where people who are in a position of power can mistreat others. This may be power over a client, a patient, an employee or in the case of your research, the participant.

In what city was the code of ethics created?

The Real Estate Board of Kansas City created its own code of ethics, which was divided into 13 “positive” and 14 “negative” rules. Kansas City was one of several local boards that adopted its own code of ethics at this time, before the national Code existed.

Why are ethics important in real estate?

The REALTOR®’s code of ethics is extremely important to buyers and sellers of real estate properties, as it protects their interests and ensures that the REALTOR® hired will try to represent them in the best way possible.

What are the 7 principles of ethics?

The principles are beneficence, non-maleficence, autonomy, justice; truth-telling and promise-keeping.

What are the 7 codes of ethics?

Terms in this set (7)

  • Beneficence. concern for well-being and safety of clients.
  • Nonmeleficence. refrain from causing intentional harm to cliens.
  • Autonomy/Confidentiality. respect client’s rights and opinions.
  • Social Justice. provide services in a fair and equitable manner.
  • Procedural Justice. …
  • Veracity. …
  • Fidelity.
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What are the 5 code of ethics?

It is divided into three sections, and is underpinned by the five fundamental principles of Integrity, Objectivity, Professional competence and due care, Confidentiality, and Professional behaviour.

What is code of 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. … In practice, Realtors are required to abide by the Code of Ethics as a way of doing business.

What is Article 1 of the code of ethics?

but may be cited in support of an alleged violation of an Article Page 12 12 Basic Principles of the Code of Ethics Article 1: Protect and promote your client’s interests, but be honest with all parties. Article 2: Avoid exaggeration, misrepresentation, and concealment of pertinent facts.