Delaware Core Module 2 - Professional Standards

In our opening chapter, we will look at ethics from multiple viewpoints: (1) in relation to values and principles, (2) in relation to standards, regulations, and laws, and (3) in relation to business and personal. Chapter One will also include information about the history of the National Association of REALTORS® and introduce the Code of Ethics. Our second chapter will examine the Code of Ethics in detail: each of the 17 articles will be presented and situations describing unethical conduct will be provided in order to give students real-life examples of how the Code should be applied. In addition, we will point out the articles that are most commonly cited in ethics complaints. In Chapter Three, we will review why the Code of Ethics should actually be followed, a.k.a. the enforcement of the Code. The differences in types of complaints and the resulting procedures will be summarized, as well as the difference between arbitration and mediation. The chapter will conclude with Pathways to Professionalism, a handy guide to behaving in a courteous manner in real estate transactions. In the final chapter, we will review common unethical or illegal practices in the real estate industry.