About This Chapter
Ethical Conduct & Professional Duties in Real Estate - Chapter Summary
Every profession contains its own code of ethics and calls its practitioners to common duties. Real estate is no different. Use the lessons in this chapter to study the expected ethical conduct of licensed real estate brokers and to review their professional duties to clients and to the public. When you've completed this chapter you will be able to:
- Explain the importance of real estate ethics
- Understand general concepts of real estate ethics
- Describe the real estate agent's duties to clients and to the public
- Discuss conflicts of interest in the workplace
Our professional instructors have broken down the sometimes complex language of real estate ethics into easily-understood lessons. As you study each topic, be sure to follow up by checking your knowledge with our self-assessment quizzes. You can track your learning progress on your Dashboard.
1. Real Estate Ethics: Importance & General Concepts
What are ethics and why are they important in real estate practice? This lesson provides an overview of ethical standards in the work of real estate professionals as well as penalties for unethical behavior.
2. The Realtor Code of Ethics: Duties to Clients
Ethical practice is essential in real estate transactions. In this lesson, you'll learn about the duties that real estate salespersons and brokers owe to clients pursuant to the code of ethics developed by the National Association of Realtors.
3. The Realtor Code of Ethics: Duties to the Public
The Code of Ethics protects the buying and selling public. This lesson summarizes the standards of practice and duties related to the public adopted by the National Association of REALTORS.
4. Conflicts of Interest in the Workplace
This lesson defines the term conflict of interest. Then, you'll learn about numerous examples of conflicts of interest in the workplace and the harm they may cause.
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Other chapters within the Alabama Real Estate Broker Pre-License Exam: Study Guide & Practice course
- Alabama Real Estate Licensure
- Alabama Real Estate Law & Statutory Requirements
- Alabama Real Estate Violations & Disciplinary Actions
- Understanding Agency Relationships & Agreements in Real Estate
- Fundamentals of Business Planning
- Human Resource Management for Real Estate
- Real Estate Licensee Training & Supervision
- Real Estate Sales Contracts for Buyers & Sellers
- Property Disclosures in Real Estate
- Closing & Settlement Real Estate Transactions
- Overview of Real Estate Negotiation
- Fundamentals of Real Estate Financing
- Risk Management for Real Estate
- Advertising Laws in Real Estate
- Valuation of Real Property
- Overview of Property Management
- Commercial Real Estate
- New Construction Real Estate
- Alabama Real Estate Broker Pre-License Exam Flashcards