Code of Ethics

Code of Ethics

Ethics

As REALTORS®, we pledge to abide by a strict code of ethics that safeguards our clients and the public.  The Code of Ethics of the National Association of REALTORS®  imposes duties above—and in addition to—those governed by law or regulation, and apply only to real estate licensees who are also REALTOR® members.

Filing a Complain

Only REALTORS® and REALTOR-ASSOCIATES® are subject to the Code of Ethics of the National Association of REALTORS® (NAR). If you have questions about filing a Code of Ethics complaint, please contact the New Mexico Association of REALTORS at (505) 596-1818 or email NMAR. If the real estate licensee you are dealing with is not a REALTOR®, your options will include contacting the New Mexico Real Estate Commission (NMREC) at (505) 222-9820.

Once a complaint is filed, it goes through a review process with representatives from across the state:

To help consumers better understand the roles of each group, the National Association of REALTORS® (NAR) has collaborated with the Association of Real Estate License Law Officials (ARELLO) to create a document explaining the difference between a REALTOR® association and a real estate commission.

The New Mexico Association of REALTORS® provides:

Ombudsman 

The Ombudsman Program is the first step in conflict resolution. It is an informal, neutral, independent, and highly confidential way for NMAR members as well as their clients and customers to express their concerns and explore options to help resolve those concerns. An ombudsman is an individual appointed to receive and resolve disputes through constructive communication and advocating for consensus and understanding.

Mediation

Traditionally, real estate industry disputes rely on negotiation for solutions. Mediation is a process in which one or more neutral third party mediators assist disputing parties to reach an agreement. If negotiation fails, litigation is often initiated in arbitration (see below). NAR: Appendix VI to Part Ten — Mediation as a Service of Member Boards.

Arbitration

Boards and Associations of REALTORS® provide arbitration to resolve contractual issues and questions and specific non-contractual issues and questions that arise between members, between members and their clients, and, in some cases, between parties to a transaction brought about through the efforts of REALTORS®.  Disputes arising out of any of the four above-referenced contractual relationships may be arbitrated.

Resources

National Association of REALTORS® “Pathways to Professionalism“

Ombudsman Program: Questions and Answers

Before You File an Ethics Complaint

National Association of REALTORS® Professional Standards Information and Resources

Contact a Professional Standards Administrator in your area

 

For assistance from the New Mexico Association of REALTORS® contact: ombuds@nmrealtor.com, Professional Standards Administrator, (505) 596-1818.

 

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