REALTORS® are governed by the National Association's Code of Ethics. These business principals and guidelines demonstrate the professionalism REALTOR® organization.
Hearings are conducted by specially trained and experienced members. Consumers and members benefit from having a Hearing Panel comprised of regional REALTORS® from both within and outside of the respondent's local association's jurisdiction.
Written decisions are rendered quickly, and include the Hearing Panel's findings of fact. When violations occur, the Hearing Panel's decisions also include disciplinary actions. REALTORS® who are found in violation of the Code of Ethics can be fined, required to take a specific continuing education course, suspended or membership may be terminated. The matter may also be forwarded to the Department of Regulations for a separate investigation of possible real estate rules or law violation
Members with commission disputes also utilize the services provided by the Professional Standards Committee. When an entitlement to a sales commission from a co-op company arises, and a member believes he is the procuring cause for the transaction, an arbitration claim is filed. Clients of REALTORS® may also invoke the REALTORS® arbitration services if a contractual dispute with the REALTOR® Principal arises. The Professional Standards Committee resolves these differences by reviewing testimony and awarding the commission.
Mediation is a voluntary alternative that consumers or members can utilize to resolve disputes. Specially trained Mediation Officers will work with the parties to find a reasonable resolution without arbitration or judicial action.