THE ABC's of the CODE of ETHICES - REALTORS®

What is the Code of Ethics and how does it effect the public. Let me try to brake it down into a simple easy to understand set of rulers. These rules are what makes the difference between a real estate agent and a REALTORS® who is a member of their local board and the National Association of REALTORS®

While the Code of Ethics establishes obligations that may be higher than those mandated by law, in any instance where the Code of Ethics and the law conflict, the obligations of the law must take precedence.

Preamble
Under all is the land. Upon its wise utilization and widely allocated ownership depend the survival and growth of free institutions and of our civilization. REALTORS® should recognize that the interests of the nation and its citizens require the highest and best use of the land and the widest distribution of land ownership. They require the creation of adequate housing, the building of functioning cities, the development of productive industries and farms, and the preservation of a healthful environment.

Why do Realtors follow  this code of ethic and what is the code? And what makes us different from other professional groups.

• Under all is the land - what the public feels as there dream home
• Obligation beyond ordinary commerce
• Duty to become and remain informed - every 2 year licensing which requires constant learning and requirements
• Willingly share the first of your experiences - share with other agents to complete a transaction for the public
• No inducement of profit and no instruction from clients can ever justify departure from the ideal - we are responsible to remain legal and fair
• The GOLDEN RULES

What are our duties to the public as a licensed real estate agent and a member of the National Association of REALTORS

Article 1

• Our owe a duty to protect and promote the interest of your client
• Our owe a duty to treat all parties to the transaction
• Our Duty the Golden Rule

We need to protect the public with the material fact, present all offers to the sellers for them to make the decision what is best for the sellers.

Article 2

• We are not obligated to find latent defects - climbing into the attic or knocking down the drywall
• We need to disclose  material facts  about the property - water damages etc
• We are not obligated to advise your clients on maters outside the scope of our expertise - plumbers,electricians,roofer etc.

Provide the buyers with the information to make decision on purchasing the property…. Like inspector, city zoning, any information we would not have.

Article 3

We must cooperate with other brokers except when cooperation is not in your clients best interest

• The obligation to cooperate does not include the obligation to compensate
• To be effective, any changed in compensation offered for cooperative services must be communicated to the other REALTOR prior to the term the REALTORS submit an offer to purchase the property
• Disclosure duel or variable rate commission agreement
• We must disclose the existence of accepted offers
• When inquiring about a property that is listed you must disclose that you are a REALTOR and whether or not ow are representing a client
• We do not misrepresent the availability  of the property for showing inspecting 

This is how we as agents get paid for our services. Sellers hire an agent to help sale their home. Listing agent offers an amount for a cooperating agent to bring a buyer. In return making it a win/win for the sellers.

Article 4-7

These article protect the public

• Do not acquire interest in or buy or present offers from yourself without disclosing your interest
• Do not sell property in which you have any interest without disclosing this information to all involved
• Don not provide any professional service if you have interest - Selling, leasing, managing and counseling
• Do not take profit with out disclosing - vending machines, moving company etc
• Recommending services or Kick back for services your drive business to

Article 8

Keep all of your clients funds in a separate approved real estate trust account - earnest money and deposit etc.

Article 9

We must insure that whenever possible all agreement related to real estate contract is delivered to all parties which could include the Real Estate Purchase contract, Seller Disclosure, Title Work, Inspections etc.

Article 10

We will not discriminated base on race, color, religion, sex, handicap, familial status or nation origin or sexual orientation.

Article 11

We only attempt to provide services which you are competent to provide

Article 12

We must be truthful and honest in real estate communication present a true picture in advertising marketing and other representation. We must make it readily apparent that you are a real estate professional in all of your advertising marketing and communications. This is big with the new social media rage as long as the agent places the brokerage name on all marketing .

Article 13

We do not engage in the unauthorized practice of Law
We must recommend that legal counsel be obtained when the interest of any party to the transaction requires it. This is very important when dealing with short sales all sellers should looking into legal counsel.

Article 14
All information from ethic hearing and arbitration hearing are confidential

Article 15

We do not knowingly or recklessly make false or misleading statement about competitors

Article 16

We Do not interfere with an exclusive representation of another agent

When can a client of a broker be contacted by another agent brokers - when the agent give permission.
When the new broker offers a different type of real estate services provide or services - when the clients offer it

As you can see there are very special rules that governor us as professionals to protect you as a buyer to seller that your needs are met and you are protect against misrepresentation

If you would like a full copy of the code of ethic or have any questions please let me know you can call or email me at 88lorifleming@gmail.com or 801-940-9560

Realtor Day At the Legislature - How it effects Utah!!

Realtor Day
At the Legislature
Talking points that effect Utah

As I spent the day at Grand America hotel learning about the issues that effect the people of Utah. I had the opportunity to hear from Governor Herbert and his concerns about the ability for Utahans to own their part of the American Dream.

The importance of keeping up with technology or be left behind. Right now the state of Utah is more efficient at providing the services to the tax payers with a AAA rating. The future is bright for Utah being the 2nd in the nation for the best quality of life and employment opportunities.  One goal the governor has is to have  66% of Utahans to have a post high education which will help fill jobs and bring more companies here to Utah.

Here are 2 bills that have pasted the house and heading to the senate that will effect the real estate market and the American Dream.

Senate Bill 42 limitation on action to recover deficiency - This bill places a three-month limit on lenders who want to pursue deficiency judgements after a short sale of a single family residential property. Without this bill lenders can wait 6 years before going after borrowers for any unpaid mortgage balances after a short sale. Under bill 42 the states short sale requirements will match the existing foreclosure laws, which already limits the deficiency judgement to 3 months. This bill will provide protection to consumers, rather then putting them at risk for 6 years.

This bill will make home owners more confidence in the decisions they make to short sale their homes, knowing that if the banks are not willing to forget the deficiency this will not be held over their heads for 6 years. Why short sales ...a couple of reasons this process not only allows a homeowner the chance to try and make things right with the lender ( yes it will be short of the payoff but the home will not remain in a neighborhood with growing weeds, broken pipes and creating a eye sore to the neighborhood. This also saves the bank from having to contact and agent to list the property maintain the property etc) and 2nd by completing a short sale the sellers come obtain a new mortgage somewhere between 2 and 3 years. Foreclosed sellers up to 6, do you see the benefit for this bill to past the Senate.

House Bill 302 Land Use Penalties - this bill will help keep communities clean and safe. This bill requires municipalities to provide WRITTEN notice to owner of record each time a property is in violation of an ordinance.  Oftentimes, property owners are unaware of any ordinance violations until they are accessed a fine. This bill gives the responsible party notice and the opportunity to rectify any problem. It also allows property owners the option of designation an agent to receive ordinance violation notices on their behalf. This is helpful in property management situation so the manger is always aware of any problems and can see that they are corrected.

This bill will prevent municipalities from fining  homeowner, builders and investors prior to a written notice and time for the homeowners, builders and investor to rectify the problem.

Study: Many teens use alcohol at home with parents’ OK

This is very concerning to me, I attended Bonneville High, I knew about the parking lot crew but never was Bonneville High known as the party school.  Just lately there was a drug bust at this school. Where 8 kids were arrested for drugs.

I have a niece and a nephew who will be attending Bonneville High. I know they have learned in their homes the important about staying away from drugs and alcohol and have great support. But what about their friends homes have they learned the same.

We all need to keep are kids safe and away from the dangers this stuff can cause which effects not only their safety but their ability to learn. These kids are tomorrows leaders. I would say it is NOT ok to use alcohol at home or anywhere at this young age.

By Gentry Reinhart

Standard-Examiner correspondent

Sun, 02/19/2012 - 8:27pm

Parental attitudes contribute to teen substance abuse problems in the four cities that send students to Bonneville High School, according to a local woman who has studied the situation.

Amy Mikkelsen is director of the Bonneville Communities That Care coalition, which spent four months gathering data to identify the top five risk factors for teens in Washington Terrace, Uintah, Riverdale and South Ogden attending sixth to eighth grades.

The coalition works to reduce substance use, delinquency, school drop-outs, violence and teen pregnancy.

In her research, Mikkelsen said she was most surprised to see the attitude that some parents have toward teen drinking.

“That was really alarming to me,” she said. “There was a very high percentage of youth that reported using alcohol at home with parents’ permission.”

Mikkelsen fears that parents aren’t being clear with their expectations for drug and alcohol use, instead assuming that their standards are clear and understood.

“I think a lot of times, as parents, we assume that of course my kid knows I don’t want them to use alcohol or get involved in violence,” she said. “But they’re not necessarily talking to their kids about it.”

Inhalant abuse among sixth-graders in the four cities is double the state average, according to the coalition report released this week.

The study found the drugs most commonly used by teens are alcohol, marijuana, tobacco and prescription drugs.

The full report will be available for the public within the next week at the Communities That Care website, www.bonnevillectc.org/

“As far as substance abuse, we are higher than Weber County,” Mikkelsen said. “And we’re above some of the state averages as well.”

The four cities formed an interlocal agreement last spring to help fund the coalition. A Weber-Morgan Narcotics Strike Force raid in mid-November at Bonneville High School resulted in the arrests of nearly a dozen students on drug-related charges and gave the coalition impetus to complete its tasks.

Another concern was an increasing relaxed perception of gateway drugs like marijuana. The report said 18 percent of 10th-graders and 23 percent of 12th-graders admitted having smoked pot.

“We’re seeing that opinion changing, probably because it’s being legalized in several areas, and maybe parents don’t think it’s that harmful or dangerous,” she said. “And in turn, the kids don’t think it’s that big a deal.”

The report also emphasizes the role academic failure plays in the likelihood of teens doing harmful activities. Mikkelsen said not addressing even common problems, such as difficulty with reading, as early as third grade can exponentially raise the risk of unhealthy behaviors.

Data for the report was gleaned from the SHARP (Student Health and Risk Prevention) survey — a biannual survey administered to youths in grades six, eight, 10 and 12 every odd-numbered year — and archival data from the community to build a comprehensive view of the area and the challenges facing youths in their daily lives.

The report outlines protective factors, such as opportunities and rewards for pro-social involvement, a strong moral code and strong family involvement to help reduce problem youth behavior.

Mikkelsen said the next steps are to assess programs that already address the priority risk and protective factors and to focus on reducing substance use among youths.

The coalition of representatives from Weber-Morgan Health Department, Bonneville High School, Weber School District and Juvenile Court wants to find and fill the gaps in services or programs.

Finally, they intend to find programs or strategies that have been shown to be tested and effective in addressing the priorities that are not already being addressed. The group will write a community action plan and look for state and federal funds to help pay for the programs.

The nationally implemented Communities that Care framework was developed by Drs. David Hawkins and Richard Catalano at the University of Washington. It’s based on their extensive research that identifies specific risk factors that are predictive of problem behaviors and protective factors that buffer youths from those risks.

The Bonneville chapter was established in April 2011, and Mikkelsen encourages anyone in the area to get involved in making the community a better place.

“The more it gets out there, the more people we’ll have saying ‘what is that?’ ” she said. “And that leads to more involvement and participation.”