NATIONAL ASSOCIATION OF REALTORS®
Code of Ethics Video Series
Article 12 of the Code of Ethics
Code of Ethics Video Series Support Materials
NATIONAL ASSOCIATION OF REALTORS®
REALTORS
®
shall be honest and truthful in their real estate communications and shall present a
true picture in their advertising, marketing, and other representations. REALTORS
®
shall ensure
that their status as real estate professionals is readily apparent in their advertising, marketing, and
other representations, and that the recipients of all real estate communications are, or have been,
notified that those communications are from a real estate professional. (Amended 1/08)
• Standard of Practice 12-1
REALTORS
®
may use the term “free” and similar terms in their advertising and in other
representations provided that all terms governing availability of the offered product or service
are clearly disclosed at the same time. (Amended 1/97)
• Standard of Practice 12-2
REALTORS
®
may represent their services as “free” or without cost even if they expect to receive
compensation from a source other than their client provided that the potential for the REALTOR
®
to obtain a benefit from a third party is clearly disclosed at the same time. (Amended 1/97)
• Standard of Practice 12-3
The offering of premiums, prizes, merchandise discounts or other inducements to list, sell,
purchase, or lease is not, in itself, unethical even if receipt of the benefit is contingent on
listing, selling, purchasing, or leasing through the REALTOR
®
making the offer. However,
REALTORS
®
must exercise care and candor in any such advertising or other public or private
representations so that any party interested in receiving or otherwise benefiting from the
REALTOR
®
’s offer will have clear, thorough, advance understanding of all the terms and
conditions of the offer. The offering of any inducements to do business is subject to the
limitations and restrictions of state law and the ethical obligations established by any applicable
Standard of Practice. (Amended 1/95)
• Standard of Practice 12-4
REALTORS
®
shall not offer for sale/lease or advertise property without authority. When acting
as listing brokers or as subagents, REALTORS
®
shall not quote a price different from that agreed
upon with the seller/landlord. (Amended 1/93)
• Standard of Practice 12-5
REALTORS
®
shall not advertise nor permit any person employed by or affiliated with them to
advertise real estate services or listed property in any medium (e.g., electronically, print, radio,
television, etc.) without disclosing the name of that REALTOR
®
’s firm in a reasonable and
readily apparent manner. This Standard of Practice acknowledges that disclosing the name of
the firm may not be practical in electronic displays of limited information (e.g., “thumbnails”,
text messages, “tweets”, etc.). Such displays are exempt from the disclosure requirement
established in this Standard of Practice, but only when linked to a display that includes all
required disclosures. (Adopted 11/86, Amended 1/11)
Code of Ethics Video Series Support Materials
NATIONAL ASSOCIATION OF REALTORS®
• Standard of Practice 12-6
REALTORS
®
, when advertising unlisted real property for sale/lease in which they have an
ownership interest, shall disclose their status as both owners/landlords and as REALTORS
®
or
real estate licensees. (Amended 1/93)
• Standard of Practice 12-7
Only REALTORS
®
who participated in the transaction as the listing broker or cooperating broker
(selling broker) may claim to have “sold” the property. Prior to closing, a cooperating broker
may post a “sold” sign only with the consent of the listing broker. (Amended 1/96)
• Standard of Practice 12-8
The obligation to present a true picture in representations to the public includes information
presented, provided, or displayed on REALTORS
®
’ websites. REALTORS
®
shall use reasonable
efforts to ensure that information on their websites is current. When it becomes apparent that
information on a REALTOR
®
’s website is no longer current or accurate, REALTORS
®
shall
promptly take corrective action. (Adopted 1/07)
• Standard of Practice 12-9
REALTOR
®
firm websites shall disclose the firm’s name and state(s) of licensure in a reasonable
and readily apparent manner.
Websites of REALTORS
®
and non-member licensees affiliated with a REALTOR
®
firm shall
disclose the firm’s name and that REALTOR
®
’s or non-member licensee’s state(s) of licensure in
a reasonable and readily apparent manner. (Adopted 1/07)
• Standard of Practice 12-10
REALTORS
®
’ obligation to present a true picture in their advertising and representations to the
public includes the URLs and domain names they use, and prohibits REALTORS
®
from:
1) engaging in deceptive or unauthorized framing of real estate brokerage websites;
2) manipulating (e.g., presenting content developed by others) listing content in any way that
produces a deceptive or misleading result; or
3) deceptively using metatags, keywords or other devices/ methods to direct, drive or divert
Internet traffic, or to otherwise mislead consumers. (Adopted 1/07)
• Standard of Practice 12-11
REALTORS
®
intending to share or sell consumer information gathered via the Internet shall
disclose that possibility in a reasonable and readily apparent manner. (Adopted 1/07)
• Standard of Practice 12-12
REALTORS
®
shall not:
1) use URLs or domain names that present less than a true picture, or
2) register URLs or domain names which, if used, would present less than a true picture.
(Adopted 1/08)
Code of Ethics Video Series Support Materials
NATIONAL ASSOCIATION OF REALTORS®
• Standard of Practice 12-13
The obligation to present a true picture in advertising, marketing, and representations allows
REALTORS
®
to use and display only professional designations, certifications, and other
credentials to which they are legitimately entitled. (Adopted 1/08)
