The Code of Ethics is a measure of professionalism in real estate. It does not describe the lowest common denominator of permissible performance, which many licensing laws do; the Code describes the optimum performance the public has the right to expect and imposes an obligation not only to adhere to high standards of ethical conduct, but also for REALTOR® members to become and remain informed, knowledgeable and competent.
The ethical considerations relating to the new role of transaction broker, and for buyer agents, have mandated changes in the NAR Code of Ethics. Since 1995, the National Association of REALTORS® has continued to revise and expand the Code of Ethics. Every REALTOR® is required to complete minimum Ethics training every four years as mandated by NAR.