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EXCLUSIVE ENGAGEMENTS
Respect agency relationships with clients or risk fines up ?to $5,500
Michele Di Donato
Vice President Risk Management
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Article 16 of the National Association of Realtors? Code of Ethics states, ?Realtors? shall not engage in any practice or take any action inconsistent with exclusive representation or exclusive brokerage relationship agreements that other Realtors? have with clients.?
Once an agency relationship is created, other Realtors? are prohibited from?soliciting?your client. Article 16 does not prevent a Realtor? from distributing fliers about his or her services to a prospective client, even though that client might have entered into an agency agreement with another Realtor?. A general phone canvass, mailing or distribution addressed to all prospective clients in a given area is not a violation of Article 16.
Article 16 recognizes two basic types of solicitations as unethical. First, Realtors? cannot make phone calls or personal solicitations to property owners who have been identified by a real estate sign, multiple listing compilation or other information service as having exclusively listed their property with another Realtor?. Second, Realtors? cannot mail or send other forms of written solicitations to prospective clients whose properties are exclusively listed with another Realtor? when such solicitations are not part of a general mailing but are directed specifically to owners identified through compilations of current listings or ?for-sale? signs.
You cannot solicit a listing that is exclusively listed with another Realtor?, or a buyer/tenant agreement from a buyer or tenant subject to an exclusive buyer/tenant agreement. If you contact the listing broker to obtain information about the nature of the listing and/or the expiration date, and the broker refuses to disclose that information, you can then contact the owner, buyer or tenant to secure that information. You can discuss the terms upon which you might take the future listing or agreement upon its expiration.
If the client contacts you about creating an exclusive relationship for the same service, you can discuss the terms upon which you might enter into a future agreement. As long as you do not directly or indirectly initiate such conversations, you are not violating Article 16.
Article 16 Standard of Practice 13 requires that all dealings concerning property exclusively listed with buyers/tenants who are subject to exclusive agreements shall be carried on with the client?s agent or broker, not with the client, except with the consent of the client?s agent or broker.
You are required by the code to determine whether a potential client has an agency relationship with any other Realtor? before you enter into an agency agreement. Also, if you leave a firm, you cannot try to persuade clients of that firm to cancel agreements between the client and that firm. This does not prevent Realtor? principals from establishing agreements with their Realtor? agents outlining the ?assignablilty? of exclusive agreements.
The fact that a client has retained a Realtor? as an agent or in another exclusive relationship in one or more past transactions does not preclude other Realtors? from seeking such former client?s future business.
Please avoid violating the Code of Ethics. If a Realtor? violates the code, a $500 administrative-processing fee is levied. Other sanctions include additional fines up to $5,000, suspension and/or expulsion from the association and the Carolina Multiple Listing Services Inc. (CMLS).
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Source: http://realtorreflections.com/?p=1924
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