The Code of Ethics provides that only the listing broker or cooperating broker in a transaction may claim to have sold the property. This restriction is relevant if you want to provide information in marketing materials, newsletters, or other communications about recently sold properties for which you were not the listing or cooperating broker.

NAR’s Code of Ethics and Arbitration Manual contains two case studies that relate to this issue. In one case study, the hearing panel found the REALTOR® to have violated Standard of Practice 12-7; in the other, the hearing panel found no violation.

The biggest difference in the two case studies? The REALTOR® found in violation of the Code had simply labeled the properties as recently sold, which the hearing panel concluded had the effect of conveying the impression that the REALTOR® had listed and/or sold the properties when he had not. In contrast, the REALTOR® found to not be in violation included a footnote that the recently sold properties had been listed by various participants in the MLS.

Keep in mind that in any ethics hearing, the hearing panel reviews all the facts to determine whether there is a violation. Also note that your MLS may have rules that affect what participants can and can’t say about sold properties.