Real Estate Fun Facts!

What year was the Code of Ethics for the real estate industry created?

A. 1905

B. 1913

C. 1920

Answer:

The National Association of REALTORS® created the Code of Ethics in 1913.

The National Association of REALTORS® (NAR) established the Code of Ethics for the real estate industry in 1913 to uphold ethical standards within the profession. This code serves as a guide for real estate professionals to ensure they conduct business with integrity, honesty, and professionalism.

The Code of Ethics outlines the responsibilities and duties that real estate agents and brokers must adhere to when dealing with clients, colleagues, and the public. It emphasizes the importance of treating all parties fairly, providing accurate information, and upholding confidentiality.

By creating the Code of Ethics, NAR aimed to elevate the professionalism of the real estate industry and promote public trust. Real estate professionals who are members of NAR agree to abide by this code as part of their commitment to ethical behavior in their practice.