Resident Realty Ethical Code
Adopted January 1, 2019
Ethical Standards and Professional Integrity
Resident Realty is committed to upholding the highest ethical standards in real estate.
In 1913 the National Association of Realtors (NAR) adopted professional standards of conduct for the real estate sales industry at a time when there were no Federal and State laws protecting those who contracted with Real Estate Professionals.
Today the Federal Government and the State of Colorado have many laws that protect consumers and the public when engaging in real estate related activities. The Resident Realty Management Team unanimously agrees that adopting an Ethical Code in conjunction with the state mandated office policy will help to ensure that public interactions with our firm will meet the highest ethical and moral standards, as well as elevate our agents to the top of the real estate industry.
With that in mind, Resident Realty Colorado has adopted an Ethical Code and requires all licensed agents to operate within its guidelines in conjunction with the laws authored by the State of Colorado Department of Regulatory Agencies and Federal laws that govern real estate and business practices. This code may be adjusted from time to time as necessary.
Our Ethical Propositions
The standards all Resident Realty agents pledge to uphold.
Protect Client Interests
When representing a buyer, seller, landlord, tenant, or other client as an agent, Resident Realty Agents pledge to protect and promote the interests of their client. This follows the fiduciary responsibilities outlined in Colorado real estate law. Within the application of this Proposition, Resident Realty Agents will not abandon the law requirements to honestly communicate information to all parties involved in the transaction.
Full Disclosure
Resident Realty Agents will not misrepresent or conceal pertinent facts relating to the property or the transaction.
Good Faith Cooperation
Resident Realty Agents shall cooperate in Good Faith with other licensed agents who represent either a party or transaction of interest with their client.
Transparency of Interest
Resident Realty Agents will identify all personal or business ownership they possess within a transaction. Further, the Resident Realty Agent will identify all personal relationships with parties involved in the transaction in cases where the client is related to the Resident Realty Agent. Resident Realty Agents will notify all parties in writing of ownership interest in property subject to the transaction in question.
No Hidden Profits
Resident Realty Agents shall not accept any commission, rebate, or profit on expenditures made for their client, without their client's knowledge and consent.
Equal Housing Commitment
In accordance with the Equal Housing Laws of the United States, Resident Realty Agents shall not deny equal professional services to any person for reasons of race, color, religion, sex, handicap, familial status, national origin, sexual orientation, or gender identity.
Fair Treatment for All
Resident Realty Agents are committed to providing fair and equal treatment to all clients and customers, regardless of background or personal characteristics.
Professional Competence
Resident Realty Agents shall provide professional services concerning a type of property for which they are trained and knowledgeable. In cases where the Resident Realty Agent's expertise doesn't cover a situation, he/she will recommend the inclusion of a professional who has specific knowledge and experience with the specific service or property in question.
Honest Advertising
Resident Realty Agents will not engage in false or misleading advertising. This includes all publicly available advertisements focused on services or property, including but not limited to printed advertisements, internet advertisements, and mass media publications.
Professional Referrals
Resident Realty Agents will recommend legal and professional representation when the scope of a transaction occurs outside of the expertise, responsibilities, or practices allowed by the Colorado Real Estate Commission.
Accountability & Enforcement
Resident Realty Agents who violate any of the propositions within the Resident Realty Ethical Code will provide the Board of Managing Brokers a written response and explanation of the offense. Within 5 business days of receipt of the document and completion of an internal investigation, the Board of Managing Brokers will pursue one of two options:
Option 1: Disciplinary Action
The Resident Realty Agent will be given a punch list of items to accomplish. Items may include completing continuing education, employing an approved Transaction Coordinator for a set number of future transactions, or providing a written process defining how they will rectify the offense moving forward.
Option 2: Discharge
The Resident Realty Agent will be discharged from Resident Realty.
Join a Brokerage That Values Integrity
Work with a team that holds itself to the highest ethical standards.