NAR's Board of Directors approved a change to the Code of Ethics training requirement, extending it from every two years to every three years. This extends the current cycle deadline from Dec. 31, 2020, to Dec. 31, 2021.
REALTORS® are required to complete ethics training of not less than 2 hours, 30 minutes of instructional time. The training must meet specific learning objectives and criteria established by the National Association of REALTORS®.
Only courses and equivalencies provided by a local, state, or national REALTOR® association can satisfy the Code of Ethics training requirement.
The Code of Ethics and Arbitration Manual as amended by the NAR Board of Directors at the 2004 Midyear meeting, defines “suspension”, in relevant part, as
…suspension of all Board/Association-provided membership rights, privileges and services (including those provided by the State and National Association) not available to nonmembers for a period of not less than thirty (30) days and not longer than one year, on terms and conditions expressly stated for an established period of time, including use of the terms REALTOR® and REALTOR-ASSOCIATE® with automatic reinstatement of all withdrawn membership rights, privileges and services at the end of the period of suspension. The thirty (30) day minimum and one year maximum do not apply where suspension is imposed for a remediable violation of a membership duty (e.g. failure to pay dues or failure to complete educational requirements)...
The provisions go on to discuss the fact that membership - including the duties to abide by the Code of Ethics and to pay association dues - continues during the term of suspension.
What this means for a REALTOR® who is suspended for not meeting the REALTORS® Ethics Training Requirement is that all the rights, privileges and services she is entitled to receive because she is a REALTOR® are suspended until she satisfies the training requirement. If she meets the requirement the next day, then her rights, privileges and services are restored the next day. While suspended, though, her obligation to abide by the Code of Ethics continues, as does the obligation to pay dues.
At the May 2005 Midyear Meetings of the National Association of REALTORS®, the NAR Board of Directors amended policy to provide that members suspended for failing to meet the REALTORS® ethics training requirement would subsequently be automatically terminated from membership if they did not complete their training.
The respect of all REALTOR® associations rests on the caliber of their members. All REALTORS® who witness misconduct or illegal activity may be required to report it for the good of the profession.
The Piedmont Regional Association of REALTORS® (PRAR) has an agreement with South Carolina Association of REALTORS® (SCR) to handle all Grievances and Professional Standards Complaints.
To File a Complaint please visit the SCR site here.