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.”
* 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.
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