Ethics and Fair Housing

What We'll Cover

• Sources of Ethics
• Your Ethical Obligations
• Real-Life Scenarios
• Legal Cases
• Fair Housing and Discrimination

What are "Ethics"?

Sources of Ethics

• Values
• Habits
• Oregon Law
• Realtor Code of Ethics
• Industry Standards

Statutory Duties

• Deal honestly & in good faith
• Present all offers
• Disclose material facts
• Diligence
• Loyalty
• Maintain confidential information
• Account for money

Fiduciary Relationship

Who is your "Client"?

Convey All Offers

• Includes counteroffers
• May be waived by client
• No obligation to market after acceptance of an offer

Confidential Information

• May not reveal to any 3rd party
• May not use for your own advantage
• Obligation continues after relationship ends

Contract Disclosure

• Advise client of compensation arrangements
• Disclose dual-agency

Use of Property

• May not access or use outside scope of authorization from owner

Avoid Exaggeration & Misrepresentation

False Consideration

Duty of Cooperation

Avoid Self-Dealing

Benefits from 3rd Parties

Client Trust Funds

Avoidance of Discrimination

• Neighborhood demographics
• Marketing materials
• Denial of your services

Marketing

• Use of prizes
• Disclosure of firm name
• Claiming you "sold" the property
• Use of others' information
• Website domain names

Duties to Other Realtors

• False or misleading statements about other realtors
• Seeking clients already engaged with another realtor
• Filing of unfounded complaints

Fair Housing and Discrimination

Protected Classes

• Race, Color
• Criminal History?
• Religion
• Sex
• Handicap
• Family Status
• National Origin
• Sexual Orientation

Oregon Protected Classes

• Source of Income
• Marital Status
• Domestic Violence Victims

Intentional vs. Unintensional

Federal Fair Housing Act (1968)

• Sale of Property
• Occupying
• Financing
• Renting

Liability Issues

Types of Violations

• "Steering"
• Refusal to provide services
• Refusal to sell or rent