Which article of the NAR Code of Ethics addresses respecting existing agreements?

Prepare for the Real Estate Principles 1 Exam. Use flashcards and multiple-choice questions with hints and explanations to ensure success. Get exam-ready today!

Multiple Choice

Which article of the NAR Code of Ethics addresses respecting existing agreements?

Explanation:
Respecting existing agreements means honoring contracts and agency relationships that are already in place. In real estate, a seller or buyer may be represented under an exclusive agreement, and a REALTOR should not pressure the other party to breach that contract or steer them away from the broker already engaged. Article 16 of the NAR Code of Ethics addresses this by prohibiting interference with established relationships and requiring respect for existing representation. It guides REALTORS to maintain the integrity of ongoing agreements, avoid actions that would undermine them, and work within the terms of those agreements rather than trying to override them. This helps ensure clients aren’t misled and that brokers’ rights to represent their clients are protected. Other articles govern different duties, like honesty in advertising or general client service, but they don’t address the specific obligation to honor existing agreements in the same way.

Respecting existing agreements means honoring contracts and agency relationships that are already in place. In real estate, a seller or buyer may be represented under an exclusive agreement, and a REALTOR should not pressure the other party to breach that contract or steer them away from the broker already engaged. Article 16 of the NAR Code of Ethics addresses this by prohibiting interference with established relationships and requiring respect for existing representation. It guides REALTORS to maintain the integrity of ongoing agreements, avoid actions that would undermine them, and work within the terms of those agreements rather than trying to override them. This helps ensure clients aren’t misled and that brokers’ rights to represent their clients are protected. Other articles govern different duties, like honesty in advertising or general client service, but they don’t address the specific obligation to honor existing agreements in the same way.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy