Kovats Real Estate School Practice Test

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What does the Realtor Code of Ethics represent?

A code obligatory upon members of the National Association of Realtors
Guidelines for personal conduct among real estate agents
A voluntary agreement for ethical practices
The same code that governs all real estate transactions

The correct answer is: A code obligatory upon members of the National Association of Realtors

The Realtor Code of Ethics represents a framework of professional standards and ethical guidelines that are mandatory for members of the National Association of Realtors (NAR). This code sets forth duties and responsibilities that realtors owe to their clients, the public, and other real estate professionals. The obligations outlined in this code are designed to enhance the professionalism and integrity of real estate practices. The code is not merely a set of suggestions or voluntary practices; it is enforced among the members of NAR, making adherence to these standards obligatory. This requirement supports the overall goal of maintaining public trust and upholding the integrity of the real estate profession. While the code does provide guidelines for personal conduct and promotes ethical practices, it is the enforced membership requirement that distinguishes it as an obligatory code specific to members of the National Association of Realtors.