Code of Ethics-Duties to Clients and Customers
Posted in REALTORS Code of Ethics by Karen Rhodes on November 2nd, 2006 Standard of Practice 1-9
The obligation of REALTORS® to preserve confidential information (as defined by state law) provided by their clients in the course of any agency relationship or non-agency relationship recognized by law continues after termination of agency relationships or any non-agency relationships recognized by law. REALTORS® shall not knowingly, during or following the termination of professional relationships with their clients:
1. Reveal confidential information of clients; or2. use confidential information of clients to the disadvantage of clients; or3. use confidential information of clients for the REALTOR®’s advantage or the advantage of third parties unless:a. clients consent after full disclosure; orb. REALTORS® are required by court order; or
c. it is the intention of a client to commit a crime and the information is necessary to prevent the crime; ord. it is necessary to defend a REALTOR® or the REALTOR®’s employees or associates against an accusation of wrongful conduct.
Basically what you tell us is confidential. Even after an agency contract ends. I will take it to the grave with 4 exceptions: if you tell me to disclose it, if I am compelled by court order, if it is illegal and I have to talk to prevent the crime or in my or any other REALTOR®’s defense.
If I am working as a buyers agent and my client tells me they will pay up to xxx for a particular home but makes an inital offer in a lesser amount, I will not tell the listing agent or seller that my client is willing to go up on the price. If I represent a seller who is going thru a divorce and desperatly needs to sell I will not disclose this information to a potential buyer or their agent. These are just a couple of examples. There are many many more. Kind of like "What happens in Vegas–Stays in Vegas". Well, "what happens between a client and myself–stays between a client and myself".
