Pro Standards Month 2019 Archives - CCARToday - Contra Costa Association of REALTORS

Code of Ethics Quiz 4

Q1

YES/NO | REALTOR® Jake secures a new exclusive listing to sell one of Seller David’s many rental properties. REALTOR® Rachel later approaches Seller David to discuss property management services she could provide for some of his rental properties. Is REALTOR® Rachael acting consistent with the duties of Article 16?

A1

YES | Article 16: REALTORS® may approach clients of other REALTORS® to offer different types of services than the ones currently being provided.

Q2

MULTI-CHOICE | A Buyer’s Agent presents an offer and the listing agent notifies Buyer’s Agent that the commission has been reduced. This can only occur when…?

A2

C | Article 3.2: Prior to the time that REALTOR® submits an offer to purchase property.

Q3

YES/NO | REALTOR® Josh used the MLS to identify several properties listed with other agents that he wants to advertise in the local newspaper. REALTOR® Josh disclosed the listing firm name and the MLS number next to each property in the ad. However, REALTOR® Josh did not obtain permission from each listing broker to advertise their properties. Are REALTOR® Josh’s actions consistent with the duties of Article 12?

A3

NO | Article 12

Q4

MULTI-CHOICE | REALTOR® Dipendra contacts listing REALTOR® Eve on behalf of his client who is interested in purchasing a home that Eve has listed. Dipendra must disclose all of the following to Eve, EXCEPT?…

A4

D | Article: 3.7: The amount of compensation he expects to collect for his role in closing the transaction.

Q5

MULTI-CHOICE | Now that Clear Cooperation is in effect, what type of marketing triggers the policy and requires inputting of the listing into the MLS?

A5

D – ALL OF THE ABOVE | MLS RULE 7.5: Flyers displayed in windows and/or yard signs; digital communications marketing (email blasts) and/or multi-brokerage listing sharing networks.

* QUIZ RULES | Members providing complete and accurate answers to each quiz will be entered into weekly prize drawings to win free eKey fees for one (1) year (~$200 value); maximum one (1) winner per week. Weekly prize winners will be announced every Tuesday from Sep 08-29. Members who complete all four (4) quizzes (whether answers are accurate or not) will be entered into the grand prize drawing to win a refund for annual CCAR MLS fees (~$539 value); grand prize winner will be announced Tuesday, September 29, 2020. The Office Championship prize will be awarded to the firm/brokerage that records the highest level of participation in all four weekly quizzes; individual prizes for each team participant; total not to exceed $1,000. Refunds will be awarded in the form of gift cards.

RESOURCES:

MLS RULES & REGULATIONS

NAR CODE OF ETHICS

Code of Ethics Quiz 3

Q1

TRUE OR FALSE | A REALTOR can ethically perform any real estate transaction they are licensed to do (i.e., short sale, commercial listing, business opportunity, etc.).

A1

FALSE | ARTICLE 11: REALTORS cannot provide specialized professional services outside their field of competence unless they engage assistance from another REALTOR who is competent in providing those services and fully disclose that assistance to the client.

Q2

MULTI-CHOICE | Your seller client calls you livid because you listed their house far below the values a competitor has sent out. You ask to see the the postcard and discover the “Solds” are from 2016. You attempt to contact the agent but there is no phone number and no DRE# and REALTOR firm name on the ad. This is a violation of which Article in the Code of Ethics?

A2

C | ARTICLE 12: “REALTORS shall be honest and truthful in their real estate communications and shall present a true picture in their advertising, marketing and other representations…”

Q3

TRUE OR FALSE | One of your clients is facing foreclosure. S/he asks you to list their house and find a buyer. You take the listing, but do not receive any offers. You then advise her/him to file bankruptcy, assuring that this will stop the foreclosure process so s/he can realign their finances and save the house. Is this a violation of the Code of Ethics?

A3

TRUE | ARTICLE 13: “REALTORS shall not engage in activities that constitute the unauthorized practice of law and shall recommend that legal counsel be obtained when the interest of any party to the transaction requires it.”

Q4

MULTI-CHOICE | REALTORS have an obligation to protect and promote the interests of their clients but also have an obligation to treat all parties…

A4

B | Honestly | ARTICLE 1: “…REALTORS pledge themselves to protect and promote the interests of their clients… [and] treat all parties honestly…”

Q5

MULTI-CHOICE | A seller interviews REALTORS X, Y and Z to market and sell her home. She lets each one know that she is also considering the other two represent her. REALTOR X must stop soliciting the seller to list her home at what point?

A5

D | ARTICLE 16: When the seller signs a binding exclusive agreement with REALTOR Y. “REALTORS shall not engage in any practice or take any action inconsistent with exclusive representation or exclusive brokerage relationship agreements that other REALTORS have with clients.”

RESOURCES

> MLS RULES & REGULATIONS

> CODE OF ETHICS

Code of Ethics Quiz 2

Q1

When must you execute and provide CCAR an SELM?

A1

MULTIPLE CHOICE: B | Whenever the listing will not be input into the MLS within 3 days… (MLS Rule 7.5: Mandatory Submission)

Q2

Clear Cooperation policy requires you to input your listing ___________ once you have marketed it outside your brokerage in any manner.

A2

FILL-IN-BLANK: Within 1 business day | MLS Rule 7.5: Mandatory Submission

Q3

Do you have to install a Supra lockbox on every property listing?

A3

YES/NO: No. | MLS Rule 13.2.2: Lockbox Requirements

Q4

How many days do you have to update property status to “Pending” or “Sold”?

A4

MULTIPLE CHOICE: A | 1 day (MLS Rule 10.2: Reporting of Sales)

Q5

REALTOR® Gordie places his seller-client’s home on the MLS with a note that it is “Coming Soon” and not yet available for showings. Gordie first wants to direct-market the house to several clients, friends and family members who have expressed interest in it. REALTOR® Frances, from another brokerage, notices the listing and contacts Gordie to ask if she can show the home to a client today. Gordie should…

A5

MULTIPLE CHOICE: B | Discuss the situation with his client to determine if the property should become available for showings (MLS Rule 7.5: Mandatory Submission).

RESOURCES:

> NAR CODE OF ETHICS

> NAR CODE OF ETHICS VIDEOS

> MLS RULES & REGULATIONS

Code of Ethics Quiz 1

QUIZ Q/A #1

Q1

YES/NO | Is an agent required to obtain the seller’s approval to disclose the existence of offers?

A1

YES | ARTICLE 1.1-5: The agent is required to obtain the seller’s approval to disclose the existence of offers. “In response to inquiries from buyers or cooperating brokers shall, with the sellers’ approval, disclose the existence of offers on the property. where disclosure is authorized, REALTORS shall also disclose, if asked, whether offers were obtained by the listing licensee, another licensee in the listing firm, or by a cooperating broker…”

Q2

YES/NO | Can an agent disclose the existence of an accepted offer without approval from the seller?

A2

YES | ARTICLE 1.3-6: “REALTORS shall disclose the existence of accepted offers, including offers with unresolved contingencies, to any broker seeking cooperation.”

Q3

TRUE/FALSE | Upon the written request of a cooperating broker who submits an offer to the listing broker, the listing broker shall provide a written affirmation to the cooperating broker as soon as practical.

A3

TRUE | ARTICLE 1.1-7: “When acting as listing brokers, REALTORS shall continue to submit to the seller/landlord all offers and counter-offers until closing or execution of a lease unless the seller/landlord has waived this obligation in writing.”

“Upon the written request of a cooperating broker who submits an offer to the listing broker, the listing broker shall provide, as soon as practical, a written affirmation to the cooperating broker stating that the offer has been submitted to the seller/landlord, or a written notification that the seller/landlord has waived the obligation to have the offer presented…”

Q4

TRUE/FALSE | A copy of each signed agreement and document should be provided to the signer client as soon as practical.

A4

FALSE | ARTICLE 9: “…a copy of each agreement shall be furnished to each party to such a agreement upon the signing or initialing…”

Q5

MULTI-CHOICE | Listing REALTOR Jennifer has an existing listing agreement with seller Keisha. Under which of the following circumstances may REALTOR Lance approach Keisha to represent her in the sale of her home?

A5

D | Lance cannot determine from the MLS whether Keisha’s home is exclusively listed.

RESOURCES:

> NAR CODE OF ETHICS

> MLS RULES & REGULATIONS

Consequences

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know the consequences!

Disciplinary consequences resulting from ethics violations vary in scope depending on the seriousness of offense which can include suspension or termination of membership rights and privileges. CCAR provides members with the education and resources they need to avoid disciplinary action and conduct business with integrity and professionalism.

disciplinary guidelines & practices

Discipline is designed to achieve several goals. First and foremost, it serves as a deterrent for future violations. It is also a binding, mechanism to promote education and awareness about the meaning and significance of the NAR REALTOR® Code of Ethics.

Disciplinary action against CCAR and MLS members is based on guidelines proscribed in the C.A.R. Ethics and Arbitration Manual, it is cumulative, and may consist of one or more of the following:

– Letter of warning

– Letter of reprimand

– Cease and desist order

– Suspension of membership

– Expulsion of membership

– Fines up to $15,000

– Required training

your pledge to realtors® + public

By signing a CCAR membership and/or MLS application form, applicants are signing a contract that requires strict adherence to the NAR Code of Ethics, the rules and bylaws of the Contra Costa Association of REALTORS® and/or CCAR Multiple Listing Service.

If found in violation of any ethical standards, rules and regulations members are subject to discipline, which can result in suspension or termination of membership rights and privileges. Ethics violations and MLS violations are all subject to discipline and enforcement by CCAR.

our pledge to you

CCAR’s highest obligation is to educate members about the rules and regulations governing their profession and to protect the due process rights of all parties involved in disputes. These include the right to a full and fair hearing before an impartial tribunal with knowledge of and an opportunity to defend against those charges.

violations published

Using information contained in a statewide database, C.A.R. publishes all ethics violations that result in reprimand, probation, suspension or expulsion or fine. Publication includes name, photo, discipline imposed and facts of a case.

| CODE OF ETHICS VIOLATORS |

CONTACT:

CCAR Professional Standards

(925) 295-9220

[email protected]

roles and responsibilities

The CCAR Grievance Committee is responsible for reviewing complaints and determining whether a Professional Standards hearing should be conducted or whether the complaint should be dismissed as insufficient. The Grievance Committee does not decide the ultimate issue of guilt or innocence.

The Professional Standards Committee is a group of specially trained member volunteers who act as panel members for individual hearings. Individual panels consist of four Committee members (a Presiding Officer and three panel members) who are selected on a case-by-case basis and subject to review by all parties. Other restrictions are applied.

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know the consequences!

disciplinary guidelines & practices

your pledge to realtors® + public

our pledge to you

violations published

| CODE OF ETHICS VIOLATORS |

CONTACT:

roles and responsibilities

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