NC Ethical Excellence: Raising the Bar Flashcards

NC Ethical Excellence: Raising the Bar Flashcards

What's a good rule of thumb to follow concerning real estate ethics and social media?Always assume someone's watching.Ethics complaints must typically be filed with the local board or REALTORS® association within ______ days.180 Article 3 of the NAR Code of Ethics requires REALTORS® to cooperate with other brokers, except when ______.Doing so would not be in the client's best interest According to the NAR Code of Ethics, listing agents must

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Present all offers to the client as soon as possible As a member of the NAR, REALTORS® should know about laws, proposed legislation, government relations, public policies, and ______.The real estate market's current conditions Felicity's referral deal from out of state fell through, and the out-of-state broker filed an ethics complaint about her.What do we know is true about this situation?They must arbitrate if the out-of-state broker agrees to travel to Felicity's board and abide by the panel's decision.Ross was the complainant in an ethics complaint, and Pedro was the respondent. Which party may file an appeal based upon a misapplication of the Code of Ethics?Pedro only Cara is involved in a dispute with another REALTOR®, Sue. Cara prefers ______ because she wants to preserve her working relationship with Sue.Mediation Sarah's client Reggie saw his listing on her website and told her that he was concerned that his property's square footage appeared too small compared to other properties in the area. He asked Sarah to change the information on her website to add 500 square feet. What should Sarah do?Inform Reggie that as a real estate professional, she must avoid misrepresentation relating to the property or the transaction.Simone, an ethics-complaint respondent, was found guilty at her ethics hearing. A day after the hearing, she learned that the panel hadn't followed the proper arbitration procedure. Can Simone appeal?Yes; arbitration can be appealed if a procedural error occurred.You've listed a condo and just received an offer from a notoriously unethical broker. According to the NAR Code of Ethics, which of the following is an acceptable reason not to cooperate with that broker?Working with the broker isn't in the seller's best interests.Malcolm is a new agent and he's been struggling. This week, he missed his third showing. You're concerned that his flubs are going to tarnish your brokerage's reputation.What should you do?Pull Malcolm aside and offer to help him.Jean, a REALTOR®, is preparing ad copy for her latest real estate listing. Which of the following is one reason she needs to be careful when creating her ad?Most laypersons don't know what's required in advertising, so they can be easily misled.

What does the MAAP method help licensees determine?Which property facts they need to disclose Rachel has another deal with her least favorite agent, Niles. Whenever she has worked with him, he's been condescending and abrasive. What should Rachel do?Be polite and professional when she interacts with Niles.Hoping to get some listings, REALTOR® Tony sent out "sold" postcards for properties in the geographic areas he liked to serve, even though he hadn't sold those properties himself. The postcard included his contact information, his brokerage's name, and the REALTOR® logo. Has Tony committed any ethical violations?Yes; the postcard leads consumers to believe that Tony had something to do with the featured sales.Considering that 55% of consumers don't understand the differences between agency relationships, licensees should

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Apply the Code of Ethics to their real estate practice Noel's landlord client wants to amend the lease that the tenant just finished signing. What should Noel do?Tell the landlord that she can draw up an amendment, but caution that the tenant may not agree to it.Which of the following ethics-related statement is true?Real estate transactions often present ethical predicaments due to their financial risks and inherent complexity.REALTOR® Sheena has a lot of fixer-upper listings, so she paid a photographer to edit the photos on her website in such a way that shows their "potential." In one, she had the photographer edit out the decaying back steps, since they were an eyesore. According to the NAR Code of Ethics, is this acceptable?No; the altered photos do not present a true picture of the properties Kesha is filing an ethics complaint against Marco. She should be sure to ______.Specify the article she believes Marco violated Jackie's seller client told her that the water heater was three years old, but it was an excellent model so she disclosed it as "new" on the property disclosure form. What is Jackie's ethical obligation in this situation?Treat the other parties honestly, which means disclosing the actual age of the water heater.Kenneth's seller client wants to accept an offer for her home, and the buyer plans to pay for the home using Bitcoin. Should Kenneth be concerned about anything?Yes; Bitcoin is a relatively untested form of cryptocurrency.Today, Mary Anne learned that 60 days ago, a fellow REALTOR® misrepresented himself in some advertising.How many days does she have left to file an ethics complaint?120 Barry is frustrated with his stubborn buyer client and vents about it on Snapchat. He doesn't mention the client by name, and the post will expire in 24 hours. Has he potentially crossed any ethical lines?Yes; people could still figure out who his client is, and anyone who sees the post could take a screenshot of it and re-post it.REALTORS® must be honest and truthful in their real estate communications and present a(n) ______ in their ads and marketing.True picture The NAR Code of Ethics is based on and references the

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Golden Rule

Jack built up a large following on Instagram and now promotes real estate investment products to his followers.What's this an example of?Social media "influencing" The NAR Code of Ethics preamble states, "REALTORS® should recognize that the interests of the nation and its citizens require the ______." Highest and best use of the land and the widest distribution of land ownership Article 1 of the NAR Code of Ethics requires REALTORS® to ________ the interests of their client.Protect and promote Which of the following statements about ethics and technology is true?As technology gets more complex, so do the ethical gray areas surrounding it.The NAR Code of Ethics prohibits REALTORS® from interfering with another licensee's ______.Exclusive brokerage relationship with a consumer Simone knows that a full-price cash offer is coming in for her listing. Another agent calls and asks if he can show the property tomorrow, but Simone says it's unavailable until the weekend in order to give herself a couple of days to present the cash offer to the seller. Has Simone done anything wrong?Yes; she misrepresented the property's availability.REALTOR® Peter is a member of his local board's ethics hearing panel. Along with the other panel members, his ultimate goal for the hearing is to ______.Use the hearing as an opportunity to educate the licensees Due process is ______.Fair treatment of all parties and adherence to a set of guidelines Ethically speaking, all agreements regarding a real estate transaction should be ______.In writing If neither REALTOR® in a dispute wishes to mediate, what does the NAR Code of Ethics dictate happens next?They may decline mediation.The Code of Ethics isn't legislated at the state or federal levels, but it's designed to ______ the law.Align with If you agree to cooperate with another broker because it's best for your client, it's assumed that ______.Any commission sharing will be discussed and isn't a requirement of cooperation Roz represents a seller who has tentatively accepted a verbal offer for his home. Per Article 9 of the NAR Code of Ethics, Roz should make sure the agreement ______.Is in writing Broker Tina wants to offer her affiliated licensees some free training. She is aware that nearly half of REALTOR® brokers see ______ as their biggest threat, so she'll start there when coming up with training topics.Advancing technology