BEHIND THE SCENE
Realtors bring so much to the table when it comes to a real estate transaction. Obviously they are trained in contracts and negotiation. But did you realize they bring so much more to real estate transactions than experience and legal knowledge? Actual licensed brokers and sales agents are held to Codes of Ethics—a set of principles to guide license holders on sound and ethical business practices.
The Texas Real Estate Commission Canons of Professional Ethics and Conduct were adopted to address the gray area in business dealings where something might be legal, but unethical. Essentially, the Codes of Ethics are standards for integrity and competence among real estate brokers and sales agents.
They establish a basis for professional conduct by establishing moral principles, rules, and standards of conduct for the real estate industry with the force of the law behind them.
The cannons are as follows: Fidelity: The agent’s primary duty is to represent the interests of the client. Integrity: The agent must be honest and morally sound. Competency: The agent must be knowledgeable about national, state, and local issues and conditions. Consumer Information Form 1-2: The broker must display notice concerning the real estate recover trust account. Discriminatory practices: The agent may not discriminate based on legally protected classes. Information About Brokerage Services: The agent must provide the notice explaining brokerage services in Texas.
Each broker or sales agent pledges to “abide by the provisions of The Real Estate License Act and the Rules of the Texas Real Estate Commission.” The commission may suspend or revoke a license, place on probation a person whose license has been suspended, or reprimand a license holder if the license holder violates the License Act or a commission rule.
So there you have it—the difference in working with a licensed real estate broker or sales agent and someone who is not is that license holders are bound to a Code of Ethics in the real estate industry. And that makes a big difference.
I’m Suzanne Athey, owner and founder of Team Athey & Remarkable Property Management. I hope you found this blog post informative. If you’d like to know more about real estate and leasing, please call me at 469-916-1222, or email me at suzanne@teamathey.com. I’d love to visit with you and answer all your questions.
