CODE OF ETHICS

Real Estate Professionals members pledge to adhere to the statutes and regulations of the Alaskan Real Estate Commission, and to practice benevolence, honesty, and courtesy in all possible situations.

Item A:

Customer and Client Duties:
 

When representing a seller, buyer, landlord, tenant, or any other client, members of Real Estate Professionals promote and protect the interests of their client. Members of Real Estate Professionals will treat with honesty any party involved in a transaction, whether client or customer.

Item B:

Members of Real Estate Professionals will not conceal, exaggerate, or misrepresent any facts applicable to a transaction. Members of Real Estate Professionals are not obligated to give advice on any matters outside the purview of their real estate license, discover inherent defects in property, or to disclose any facts which are confidential as defined by The Alaska Real Estate Commission.

Item C:

Members of Real Estate Professionals will cooperate with other brokers, except in circumstances where cooperation is in conflict with a client’s interests. Real Estate Professionals members are not obliged to share any compensations, including fees and commissions, to another broker.

Item D:

Members of Real Estate Professionals will not provide services, professional or valuation-related, concerning a property in a transaction if they have any interest in the property, unless this interest is disclosed to all parties.

Item E:

Real Estate Professionals members will not accept any profit or commissions whatsoever on expenditures made for their client, without the client’s explicit consent. If a member of Real Estate Professionals is to recommend any real estate products or services such as mortgage financing or title insurance, Real Estate Professionals members will disclose to the client any vested interest other than referral fees that the Real Estate Professionals member or their brokerage might receive as a result of their recommendation. If the Real Estate Professionals member has interest or ownership of any business related to a transaction, they will disclose these interests when the recommendation is made.

Item F:

Members of Real Estate Professionals will not accept compensation from multiple parties without disclosing these compensations to all parties related to the transaction, and not without the client’s consent.

Item G:

If Real Estate Professionals members keep any money in trust for any person (including earnest money), they shall keep this money in a dedicated bank account completely separate from their own personal monies. They also may keep these monies at their brokerage, with the broker’s permission.

Item H:

Members of Real Estate Professionals will draft and/or keep in written or digital form any agreements related to real estate transactions. These agreements include, but are not limited to: purchase and sale contracts, listing agreements, amendments, addendums, and leases. Real Estate Professionals members will keep these documents for a minimum period of time as required by Alaska state law. These documents shall be in language which is clear. Upon request, Real Estate Professionals members will make every reasonable effort to fully explain any of these documents to any party involved in a transaction. Real Estate Professionals members will provide copies of all documents which have been signed or initialed to each party involved in a transaction.

Duties to the Public

Item I:

Members of Real Estate Professionals will not deny equal professional services to any person for reasons of race, color, religion, sex, handicap, familial status, national origin, sexual orientation, or gender identity. Real Estate Professionals will not be part in plan to discriminate against a person or persons on the basis of race, color, religion, sex, handicap, familial status, national origin, sexual orientation, or gender identity. Members of Real Estate Professionals, in their individual real estate practices, will not discriminate against any person or persons on the basis of race, color, religion, sex, handicap, familial status, national origin, sexual orientation, or gender identity.

Item J:

In all communications related to real estate, members of Real Estate Professionals will be truthful, honest, and transparent. These attributes will be put into practice in all representations including advertising and marketing. Real Estate Professionals members will expose their status as real estate licensees in all representation including advertising and marketing. All recipients of communications related to real estate will be informed that the communication came from a member of Real Estate Professionals.

Item K:

Members of Real Estate Professionals will not practice legal counsel or partake in any activities in which it may be construed that a law degree is necessary. Real Estate Professionals will recommend legal counsel when any party involved in a transaction may require it.

Item L:

If any evidence is requested in an ethics investigation, members of Real Estate Professionals will provide all evidence requested to the Alaska Real Estate Commission or Real Estate Professionals Board of Ethics.

Item M:

Members of Real Estate Professionals will refrain from making false or misleading statements about other real estate professionals or their business practices.

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Item N:

Real Estate Professionals will not engage in political lobbying on behalf of its members or as
an entity itself.

Item O:

Real Estate Professionals will keep its membership costs to a minimum while taking no profits.

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