Ethics Chapter 32 - Articles 12 and 16 Quiz

Article 12 - REALTORS® Responsibilities

• REALTORS® must ensure honesty in all dealings, including advertising and marketing.
• They are required to clearly disclose their professional status in advertising.
• Advertising services as free is allowed if terms of availability are disclosed simultaneously.
• REALTORS® cannot advertise properties without proper authority, including quoting prices without seller consent.
• Advertisements must include the REALTOR'S® firm name visibly and accurately.
• When advertising unlisted properties, REALTORS® must identify themselves as both owners and REALTORS®.
• Claims of having "sold" a property can only be made by REALTORS® involved in the transaction as listing or cooperating brokers.
• Accurate website information is mandatory, including firm name and licensure status.
• If intending to share consumer information gathered online, disclosure must be clear and readily apparent.
• REALTORS® should avoid deceptive practices in advertising and representations, including misleading URLs and metatags.
• Professional designations and credentials displayed must only be those the REALTOR® is entitled to use.

Article 16 - Conduct and Ethical Guidelines

• REALTORS® are prohibited from interfering with the exclusive agreements of other REALTORS®.
• General announcements to prospects about services are allowed even if recipients have exclusivity with other REALTORS®.
• Unethical solicitation includes targeting property owners known to have exclusivity with another REALTOR® through direct communication.
• Contacting a client's broker's client is permitted only if offering a different type of service or for a non-exclusive property.
• Soliciting current exclusive listings of another broker is forbidden unless information about the exclusive agreement is disclosed upon request.
• If a client initiates contact regarding creating an exclusive relationship, REALTORS® may discuss future agreements but not initiate the conversation.
• Past exclusive agreements do not prevent REALTORS® from seeking future business from a prospect.
• REALTORS® must make reasonable efforts to confirm if a prospect is currently under an exclusive agreement before offering services.
• Disclosure of agency relationships and requests for compensation must happen at first contact with sellers or landlords.
• Dealings involving exclusively listed properties must go through the client’s representative unless consent is given.
• Before providing significant services, REALTORS® must verify if clients hold exclusive representation agreements.
• REALTORS® must not obligate prospects to pay more than one commission without clear consent.
• Compensation offers are limited to principal brokers in cooperative transactions, with bonuses directed only to these brokers.
• Offers to purchase or lease cannot be used to modify compensation agreements.
• Extending a listing broker’s offer of cooperation to other brokers is not allowed without consent.
• Utilization of information from listing brokers for referring clients or establishing relationships with these clients is prohibited without authorization.
• Signs for sale, rent, or lease cannot be placed on the property without the owner's consent.
• Inducing clients to cancel exclusive agreements when leaving a firm is strictly prohibited.