Many home?sellers don?t think there?s any difference between a REALTOR and a real estate agent. There?s actually quite a big difference because a REALTOR is a real estate agent who ascribes to the National Association of REALTORS Code of Ethics and Standards of Practice. The codes and standards of practice provide a?framework for the REALTOR and there are 9 Articles in Duties to Clients and Customers.
Article 3 of the Code of Ethics states:
?REALTORS shall cooperate with other brokers except when cooperation is not in the client?s best interest.?
The real estate world is a complex?interlocking network, and it?s quite common for real estate agents to cooperate with other brokers. The Standards of Practice in Article 3 lays out clear guidelines in terms of compensation, sharing of information, and the duty of cooperation.?The REALTOR,?acting as exclusive broker or agent of the landlord or home owner, has the responsibility to?communicate the terms and conditions?in regards to the cooperation. While the REALTOR has an obligation to cooperate, the REALTOR is not obliged to share fees, commission or any compensation with the other broker. Before any cooperation, the matter of compensation should be settled.
As you can see,?REALTORS?are?held to a high level of ethics and they try their best to uphold the interests of their clients.?If you are looking for a?top Annapolis REALTOR,?give John Day a call today.
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