Real Estate Ethics: Understanding Complaints and Arbitration Process

What happens if a buyer files an ethics complaint against a real estate agent?

1. The agent must comply with the arbitration process

2. The agent can ignore the complaint

3. The agent can settle the complaint privately with the buyer

Answer:

If a buyer files an ethics complaint against a real estate agent, the agent must generally comply with the arbitration process.

When a buyer files an ethics complaint against a real estate agent, it usually involves alleged violations of professional standards or unethical behavior. In such cases, the buyer can request arbitration, which is a formal process for resolving disputes outside of court.

Arbitration involves a neutral third party, known as the arbitrator, who listens to both sides of the dispute and makes a final and binding decision. By requesting arbitration, the buyer is seeking a resolution to the complaint that is enforceable by law. The agent must comply with the arbitration process and cooperate in presenting their side of the story to the arbitrator.

Ignoring the complaint or trying to settle it privately may not address the underlying issues raised by the buyer. Therefore, complying with the arbitration process is usually the best course of action for the agent to resolve the complaint and maintain professional integrity.