RE/MAX AROUND ATLANTA
  • Home
  • RMAA HUB
  • Events
  • Local Service Providers
    • Attorney Partners
    • Lender Partners
    • Home Inspection Companies
    • Home Cleaning Services
    • Home Warranty Companies
    • Insurance
    • Photography
    • Estate Sales/Clean-outs
    • Property Management
    • Repair Services
    • Security Systems
    • Storage & Moving Companies
  • OUR TEAM
  • SMART MOVE PROGRAM
  • Online Payments
  • BROKER CORNER
  • Locations

BROKER CORNER

Are You Qualified or Do You Need Assistance?Areas of Competence

10/18/2019

0 Comments

 
Picture
The NAR Code of Ethics Article 11 is explicit in setting forth REALTORS®’ responsibilities to refrain from attempting to provide service for which they are inadequately prepared.  It requires that REALTORS®  shall not undertake to provide specialized professional services concerning a type of property or service that is outside their field of competence.  Applied very broadly, there is always something new and different with every transaction.  This provision, however, is applied more narrowly, to situations for which we are not competent.
You don’t have to reject the business if it is outside of your area of competence, but you do need to do either or both of two things.
  1. Engage the assistance of someone who is competent on such types of property and identify that party and its contribution to the service, and/or
  2. Fully disclose your level of competence to the client. 

For example, if a REALTOR® as a residential broker with no commercial experience was asked to market a complex business property, the REALTOR® would be obligated to disclose to the client that the REALTOR® did not possess the experience and expertise to provide the requested service. In certain instances, a prospective client may value the general abilities and integrity of a particular REALTOR® and may insist on engaging that REALTOR®’s services despite the REALTOR®’s lack of experience and competency needed to undertake the assignment. In such a case, the REALTOR® may undertake the assignment if, having fully disclosed his lack of experience, the REALTOR® obtains assistance from someone competent in the field. The REALTOR® must fully inform the client as to whose assistance was utilized and the degree to which that person contributed to the assignment. Even if you’ve paid for that assistance,  don’t neglect to identify the party giving assistance.  It is a code violation by itself not to so identify the party providing significant assistance. 


An Article 11 violation can result in anything from simple letters of warning to expulsion from REALTOR membership. Between these extremes are mandatory attendance at remedial educational sessions, fines, probation, and suspension.  Just don’t.

0 Comments



Leave a Reply.

    RMAA

    Real Estate News, Brokers Blog & More

    Categories

    All
    Broker's Corner
    Mortgage Minute

    Archives

    January 2023
    December 2022
    November 2022
    October 2022
    September 2022
    August 2022
    July 2022
    June 2022
    May 2022
    April 2022
    March 2022
    February 2022
    January 2022
    December 2021
    November 2021
    October 2021
    September 2021
    August 2021
    July 2021
    June 2021
    May 2021
    April 2021
    March 2021
    February 2021
    January 2021
    December 2020
    November 2020
    October 2020
    September 2020
    July 2020
    June 2020
    May 2020
    March 2020
    February 2020
    January 2020
    December 2019
    November 2019
    October 2019
    September 2019
    August 2019
    July 2019

    RSS Feed

RE/MAX AROUND ATLANTA
© COPYRIGHT 2023. ALL RIGHTS RESERVED.
  • Home
  • RMAA HUB
  • Events
  • Local Service Providers
    • Attorney Partners
    • Lender Partners
    • Home Inspection Companies
    • Home Cleaning Services
    • Home Warranty Companies
    • Insurance
    • Photography
    • Estate Sales/Clean-outs
    • Property Management
    • Repair Services
    • Security Systems
    • Storage & Moving Companies
  • OUR TEAM
  • SMART MOVE PROGRAM
  • Online Payments
  • BROKER CORNER
  • Locations