The REALTORS®’ Code of Ethics was established in 1913 by the National Association of REALTORS®. It’s a set of rules that were established to raise the standards of professionalism and service in the real estate industry. The rules are divided into three areas: 1) a broker’s duties to his clients, 2) a broker’s duties to his fellow brokers and 3) a broker’s duties to the public. The current Code of Ethics contains seventeen articles.
Over its one hundred year history, the Code of Ethics has been amended and revised to keep up with the changing times. Local REALTOR® Associations are charged with enforcing the Code of Ethics and handing down punishment to those found to be in violation of one or more of the articles.
To keep REALTORS® up to date on the Code of Ethics, the National Association of REALTORS® requires all REALTORS® to take a training course on the subject every four years.
In recognition and appreciation of their obligations to clients, customers, the public, and each other, REALTORS® continuously strive to become and remain informed on issues affecting real estate and, as knowledgeable professionals, they willingly share the fruit of their experience and study with others.
According to the U.S. Commerce Department 569,000 new single-family homes were completed in 2013. The average size was 2,598 square feet. Most had at least a two car garage and central air conditioning.
Here are some of the more common features: 91% – Air conditioning 61% – Heating system powered by gas 59% – Forced air furnace 53% – 2+ stories 44% – 4+ bedrooms 33% – 3+ bedrooms 29% – Full or partial basement