Ethics and Arbitration Services
The single, most outstanding
characteristic that sets REALTORS® apart from other real
estate practitioners is the willingness to accept and abide by the Code
of Ethics of the National Association of REALTORS®. The Code
of Ethics, which was first adopted on July 29, 1913, is a living
document, responsive in its content to changes in law and industry. The
Code has been revised several times through the years to reflect the
current developments in professional real estate practice. Updated
annually, in response to changes in the industry, each REALTOR®
needs to review the Code when these changes occur.
The Code of Ethics is universally recognized by practitioners, lawyers and laymen alike as the measure of professionalism in real estate. When you abide by the Code, it ensures your fellow practitioners and the public of a high standard of business conduct. The Code of Ethics is also an excellent Risk Management tool. Include a copy in your listing presentation packet, to educate clients on the "REALTOR® difference". The term REALTOR® has come to represent competency, fairness, and high integrity. These qualities stem from voluntary adherence to an ideal of moral conduct in real estate business practices.
But even with the best of intentions, planning and preparation,
occasional disagreements arise between REALTORS® and/or
between REALTORS® and their clients and customers. By virtue
of its charter with the National Association of REALTORS®,
the South Metro Denver REALTOR® Association has both a duty
and an obligation to enforce the REALTOR® Code of Ethics
among members who hold REALTOR® membership. Association members who hold REALTOR®
membership subscribe to the REALTOR® Code of Ethics as a
condition of membership, and agree to uphold the Code of Ethics in their
business dealings with clients, customers and other REALTORS®.
Through professional standards, SMDRA provides its members and their
clients and customers a vehicle to economically expedite ethics
complaints and/or arbitration requests without going to court. If an
“arbitrable” monetary dispute arises from a real estate transaction or
if you believe a REALTOR® may have acted in an unethical
manner, seek a resolution through your local association of REALTORS®.
Ethics complaints that are brought before the association give those
parties involved an opportunity to be educated about the Code. In
addition, REALTORS® are judged by their peers as opposed to
other individuals who may be far less familiar with the practices and
customs of the real estate industry.
General Instructions
for Filing an Ethics Complaint or Arbitration Request>
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Melissa Maldonado
Prof. Standards
Administrator
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Melissa manages all aspects of the Professional Standards Program. She can answer questions regarding filing an Ethics Complaint, a Request for Arbitration, questions regarding mediation, or the Buyer-Seller Dispute Mediation Program. Please remember that the Association administers these programs and can answer procedural questions, we do NOT give either side legal or other advice. |
An ethics complaint charges that a REALTOR® has violated an Article(s) of the Code of Ethics of the National Association of REALTORS®. Ethics complaints are filed where the respondent holds membership. Complaints can be filed by any person, whether a member or not, having reason to believe that a member is in violation of any conduct subject to disciplinary action.
Before
You File an Ethics Complaint>
Ethics Complaint Form>
Outline of
Procedure for Ethics Hearing>
Presenting and Negotiating Multiple Offers>
Ethics Flowchart
>
An arbitration request involves an “arbitrable” dispute over entitlement to a monetary transaction (e.g., a commission) or a monetary claim arising out of a contractual dispute (Standard of Practice 17-4 of the Code of Ethics). Arbitrations can be filed by the REALTOR® principal (employing or managing ‘broker”) or by a non-REALTOR® member if they agree to be bound and abide by the award of a hearing panel. A non-principal cannot file an arbitration, although their name may be joined on the request and may attend and participate in the arbitration if they remain affiliated with the broker, maintain REALTOR® membership, and have a monetary interest in the outcome.
Request for
Arbitration Form Member>
Request for
Arbitration Form Nonmember>
Arbitrable Issues>
Arbitration Guidelines>
Arbitration -
Mandatory or Voluntary>
Outline of
Procedure for Arbitration Hearing>
Arbitration
Flowchart >
Benefits of Mediation
during Arbitration:
The
South Metro Denver REALTOR® Association encourages
the use of mediation as a first-step towards the resolution of conflicts
and disputes arising out of real estate business transactions, as
defined in Article 17 of the Code of Ethics. Once an arbitration is
passed on by the Grievance Committee, mediation is offered to the
parties prior to the scheduling of a formal, arbitration hearing.
Mediation can resolve disputes, promote amicable resolutions and reduce
the number of cases that require a more formal hearing.
Benefits of Mediation
During Arbitration>
This program has been designed to implement the mediation clause presently in Colorado real estate contracts to provide a solution for disputes between buyers and sellers, such as earnest money disputes.
Program Intake Form>
South Metro Denver REALTOR® Association
7899 South Lincoln Court
Littleton, Colorado 80122
Phone: 303-797-3700
Fax: 303-797-0109