Ethics and Fair Housing

Published on Mar 16, 2017

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PRESENTATION OUTLINE

Ethics and Fair Housing

Photo by Locator

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
Photo by Scott*

Fiduciary Relationship

Photo by kylesteed

Who is your "Client"?

Individuals vs. Entities

Convey All Offers

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

Confidential Information

  • May not reveal to any 3rd party
  • May not use for your own advantage
  • Obligation continues after relationship ends
Photo by Sir. Mo

Contract Disclosure

  • Advise client of compensation arrangements
  • Disclose dual-agency
Photo by NobMouse

Use of Property

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

Avoid Exaggeration & Misrepresentation

Duty to discover latent defects?
Photo by HowardLake

False Consideration

Unless obviously nominal
Photo by c_ambler

Duty of Cooperation

Avoid Self-Dealing

You, family members, entities which you have ownership
Photo by Tobyotter

Benefits from 3rd Parties

Duty to Disclose - warranty companies, lenders, title insurance

Client Trust Funds

Photo by adametrnal

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
Photo by afagen

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

Photo by AdrianoSetimo

Federal Fair Housing Act (1968)

  • Sale of Property
  • Occupying
  • Financing
  • Renting
Photo by Malinkrop

Liability Issues

Insurance Exclusions, Punitive Damages
Photo by Chiot's Run

Types of Violations

  • "Steering"
  • Refusal to provide services
  • Refusal to sell or rent
Photo by Mustafa Sayed