Standard of Practice 1-7
“As soon as practical” was added to Standard of Practice 1-7 of the Code of Ethics, effective January 1. Standard of Practice 1-7 requires the listing broker to provide written affirmation that an offer was submitted to the seller or landlord, if the cooperating broker who submitted the offer makes a written request for the affirmation.
The addition of “as soon as practical” is intended to make clear that simply providing the written affirmation is not enough if it was not provided in a timely manner—perhaps even after a transaction closed. Since circumstances vary from one transaction to the next, the standard of practice does not include a specific time frame to affirm that the offer was submitted. Should an ethics complaint be filed citing Article 1 based on this standard of practice, a hearing panel would look at the facts to determine whether notice was provided as soon as practical.
Note that “as soon as practical” also appears in Standards of Practice 3-4 (disclosing a dual or variable rate commission arrangement) and 16-12 (disclosing relationship as a representative of sellers/landlords or as subagents of listing brokers).
Standard of Practice 3-11
The Code of Ethics has long prohibited discrimination against members of the public and in their employment practices. Effective January 1, that anti-discrimination language also applies to broker cooperation.
Article 3 states that “REALTORS® shall cooperate with other brokers except when cooperation is not in the client’s best interest.” NAR has adopted new Standard of Practice 3-11, under Article 3, which spells out that brokers may not refuse to cooperate based on another broker’s membership in a protected class: “REALTORS® may not refuse to cooperate on the basis of a broker’s race, color, religion, sex, handicap, familial status, national origin, sexual orientation, or gender identity. (Adopted 1/20).”