The NAR Professional Standards Committee has made one change to the Code of Ethics and Standards of Practice that went into effect January 1, 2019 that you need to be AWARE of. 

How many times have you presented an offer and never found out if the seller even saw it? Let alone rejected it? This is something that frustrates brokers across the nation and the basis of why an amendment to Article 1 was approved by NAR. If you follow the Code…it will IMPROVE your professionalism and relationship with consumers and your fellow brokers! 

This amendment gives clear information on how a cooperating broker can request that a listing broker provide written confirmation that the offer was submitted to the seller/landlord. Or, if the seller/landlord doesn’t want an offer presented, the listing broker has to provide written notification from the seller/landlord that waive their obligation to have an offer presented.   

Article 1, Standard of Practice 1-7 is amended as follows (the additional language is bolded): When acting as listing brokers, REALTORS® shall continue to submit to the seller/landlord all offers and counter-offers until closing or execution of a lease unless the seller/landlord has waived this obligation in writing. Upon the written request of a cooperating broker who submits an offer to the listing broker, the listing broker shall provide a written affirmation to the cooperating broker stating that the offer has been submitted to the seller/landlord, or a written notification that the seller/landlord has waived the obligation to have the offer presented. REALTORS® shall not be obligated to continue to market the property after an offer has been accepted by the seller/landlord. REALTORS® shall recommend that sellers/landlords obtain the advice of legal counsel prior to acceptance of a subsequent offer except where the acceptance is contingent on the termination of the pre-existing purchase contract or lease. (Amended 1/19)

Please note, you cannot be found in violation of a Standard of Practice, but if Standard of Practice 1-7 is breached it could be the basis of a violation of Article 1.

Bottom line, know the Code and work cooperatively with each other!

Click to view the 2019 Summary of Key Professional Standards Changes