2025 Updates to the Code of Ethics
The newest version of the NVAR Code of Ethics, effective January 1, 2025, is now available. Articles 4 and 11 were updated (see changes in bold below).
Article 4: Realtors® are required to disclose to all parties in writing any present ownership interest they may have in a property before signing any agreement relating to that transaction.
- The types of ownership interests that would trigger this disclosure have been clarified and now include where the Realtor® represents themselves, a member of their immediate family, their firm or any broker or agent thereof, or any entity in which the Realtor® or immediate family member have a legal interest.
- NEW FOR 2025: Realtors® are not required to disclose the identity of the interested client or customer, nor do they have to disclose the specific nature of the interest – they only have to disclose that an interest exists at all.
Article 11: Realtors® must be knowledgeable and competent in the fields of practice in which they ordinarily engage. They shall not provide specialized professional services outside their field of competence.
- Standard of Practice 11-2, which evaluates what constitutes basic due diligence for Realtors®, adds that reasonable competence also requires Realtors® to act in accordance with their agency duties under the law.