What is the Golden Rule in real estate Ethics?
“In the interpretation of (these) obligation(s), REALTORS® can take no safer guide than that which has been handed down through the centuries, embodied in the Golden Rule, ‘Whatsoever ye would that others should do to you, do ye even so to them.
Where is the Golden Rule quoted in the code of ethics?
The golden rules is part of the preamble of the code of ethics. If a listing broker tells another broker “I’ll cooperate with you,” the other broker may assume that the listing broker will pay him/her a cooperative commission. The code of ethics protects the buying and selling public.
How does the Golden Rule work in real estate practice?
Practice the “Golden Rule” with respect to everyone at all times—your clients, other agents, other agents’ clients and the general public. Always treat everyone the way you would want to be treated. Make your enemy your friend.
Is the Golden Rule quoted in the preamble of real estate?
True Correct! 5. The Golden Rule is quoted in the Code’s Preamble.
What is Article 1 of the Code of Ethics?
but may be cited in support of an alleged violation of an Article Page 12 12 Basic Principles of the Code of Ethics Article 1: Protect and promote your client’s interests, but be honest with all parties. Article 2: Avoid exaggeration, misrepresentation, and concealment of pertinent facts.
Can a Realtor be assured that she is always ethical because she follows the letter of the law?
Can a REALTOR who follows the letter of the law find that he has violated the Code of Ethics? Yes. Ethical reasoning sometimes goes beyond the basic requirements of the law.
What is the golden formula in real estate?
In case you haven’t heard of the so-called Golden Rule in house flipping, the 70% Rule states that your offer on a property should be no greater than 70% of the After Repair Value (ARV) minus the estimated repairs.
How do you become successful in real life?
Becoming A Successful Real Estate Agent In 10 Steps
- Be Available.
- Set Goals.
- Have a Marketing Plan in Place.
- Become an Expert in Your Market.
- Build Relationships.
- Ramp Up Your Social Media Efforts.
- Implement Small Business Systems.
- Don’t Only Focus On Selling.
How do you value real estate?
The capitalization rate is a key metric for valuing an income-producing property. Net operating income (NOI) measures an income-producing property’s profitability before adding costs for financing and taxes. The two key real estate valuation methods include discounting future NOI and the gross income multiplier model.