Several years ago in an effort to raise the level of professionalism in the real estate industry and service to the consumer, the National Association of REALTORS® (NAR) instituted a quadrennial ethics training requirement. This means that all NAR members are required to complete an approved Code of Ethics training course every four years.
The current quadrennial dates are from January 1, 2005 to December 31, 2008. All Minneapolis Area Association of REALTORS® (MAAR) members must attend or provide proof of completing the approved course to MAAR by December 31, 2008. NAR has established a timeline for consequences for those who do not complete the training by the specified timeframe, including suspension of national, state and local membership.
The Minnesota Association of REALTORS® has developed a Code of Ethics Trainer program and is requiring all local associations, including MAAR, to used certified ethics trainers. The flowchart below—which is also a clickable office handout in PDF format—graphically describes the options available to all MAAR members and includes available class dates for 2008. Please don’t hesitate to contact a member of the Education and Professional Development team at 952.908.2602 with any questions. view available MAAR classes
Note: If you have attended and completed MAAR orientation as a new member since January 1, 2005, you have met the NAR 2008 Quadrennial Ethics requirement.
Why is NAR mandating this training?
It's called the "Three Way Agreement," and links the local, state and national associations together through the adoption of interlocking bylaws sections. Under it, NAR adopts the Code and sets the requirements for continuing to hold REALTOR® membership. Your basic membership dues are to "abide by the Code of Ethics," "agree to arbitrate business disputes," and "pay your dues." Now there's another one...to complete the mandatory NAR Quadrennial Ethics refresher course.
What are the reasons for implementing the code of ethics training?
There are basically two reasons:
1)The industry is changing fast and the Code is continually updated to reflect new business models and new client relationships. It is a duty and obligation REALTORS® owe their clients, customers and other REALTORS® to know these codes. A vast majority of the complaints reviewed by the Professional Standards Committee are ethical violations and the consequences imposed with the infractions are a range of penalties, including fines in amounts up to $5,000.
2) Adherence to the Code of Ethics is the critical difference between you and the non-REALTOR® licensees in Minnesota. It is the strongest selling point for using a REALTOR®. Keeping up to date with the Code is part of your commitment as a real estate professional and REALTOR®.
What if my agent does not know if they have met the requirement?
Members can verify they have taken an ethics class from MAAR by accessing MAAR's website.
Click on Internet Member Services (IMS) and follow the directions to enter the password protected site. Once in the IMS site, scroll down to Education, click Education History and Tracking, click Classes You Have Taken.
More information regarding the NAR Quadrennial Ethics can be found at www.realtor.org.
New Agents: Any agent who has joined MAAR since January 1, 2005 has completed the required ethics course as a part of their orientation process. Your agent could verify their completion by using the IMS process described above.
Transferring Agents: Any REALTOR® transferring to MAAR from another board/association who has completed the current Quadrennial Ethics training requirement shall not be required to complete any additional ethics training for that quadrennial if the REALTOR® can provide satisfactory documentation of completion. Completing the MAAR Affidavit of Compliance will meet this requirement.
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