Code of Ethics Video Series Support Materials
NATIONAL ASSOCIATION OF REALTORS®
date and nature of such listing; i.e., an exclusive right to sell, an exclusive agency, open listing,
or other form of contractual agreement between the listing broker and the client, the REALTOR
®
may contact the owner to secure such information and may discuss the terms upon which the
REALTOR
®
might take a future listing or, alternatively, may take a listing to become effective
upon expiration of any existing exclusive listing. (Amended 1/94)
• Standard of Practice 16-5
REALTORS
®
shall not solicit buyer/tenant agreements from buyers/ tenants who are subject to
exclusive buyer/tenant agreements. However, if asked by a REALTOR
®
, the broker refuses to
disclose the expiration date of the exclusive buyer/tenant agreement, the REALTOR
®
may contact
the buyer/tenant to secure such information and may discuss the terms upon which the
REALTOR
®
might enter into a future buyer/tenant agreement or, alternatively, may enter into a
buyer/tenant agreement to become effective upon the expiration of any existing exclusive
buyer/tenant agreement. (Adopted 1/94, Amended 1/98)
• Standard of Practice 16-6
When REALTORS
®
are contacted by the client of another REALTOR
®
regarding the creation of an
exclusive relationship to provide the same type of service, and REALTORS
®
have not directly or
indirectly initiated such discussions, they may discuss the terms upon which they might enter
into a future agreement or, alternatively, may enter into an agreement which becomes effective
upon expiration of any existing exclusive agreement. (Amended 1/98)
• Standard of Practice 16-7
The fact that a prospect has retained a REALTOR
®
as an exclusive representative or exclusive
broker in one or more past transactions does not preclude other REALTORS
®
from seeking such
prospect’s future business. (Amended 1/04)
• Standard of Practice 16-8
The fact that an exclusive agreement has been entered into with a REALTOR
®
shall not preclude
or inhibit any other REALTOR
®
from entering into a similar agreement after the expiration of the
prior agreement. (Amended 1/98)
• Standard of Practice 16-9
REALTORS
®
, prior to entering into a representation agreement, have an affirmative obligation to
make reasonable efforts to determine whether the prospect is subject to a current, valid
exclusive agreement to provide the same type of real estate service. (Amended 1/04)
• Standard of Practice 16-10
REALTORS
®
, acting as buyer or tenant representatives or brokers, shall disclose that relationship
to the seller/landlord’s representative or broker at first contact and shall provide written
confirmation of that disclosure to the seller/landlord’s representative or broker not later than
execution of a purchase agreement or lease. (Amended 1/04)
• Standard of Practice 16-11
On unlisted property, REALTORS
®
acting as buyer/tenant representatives or brokers shall
disclose that relationship to the seller/landlord at first contact for that buyer/tenant and shall