What is the purpose of the Code of Ethics for REALTORS®?

The purpose of the Code of Ethics for REALTORS® is to establish a standard of practices for the profession. This code provides guidelines that govern REALTORS®’ conduct, ensuring they act with integrity, fairness, and honesty in all dealings. By adhering to these ethical standards, REALTORS® are expected to prioritize their clients' best interests, promote professional collaboration, and foster public trust in the real estate profession.

The Code of Ethics helps to define what is considered acceptable behavior in various situations, setting a benchmark for professional practice and enhancing the reputation of real estate agents as a whole. This commitment to ethical standards not only benefits clients but also contributes to maintaining a level of professionalism within the industry.

The other options do not accurately reflect the true intent of the Code. For example, limiting competition among agents runs counter to the principles of fair trade and marketplace integrity that the Code upholds. Similarly, enhancing commissions for agents falls outside the personal responsibility aspect necessary for ethical business practices. Protecting the interests of property developers may not encompass the broader ethical responsibilities that REALTORS® have to buyers, sellers, and the community at large.