Question

Phil is a new REALTOR®. He was excited to join and NAR and abide by the Code of Ethics because ______.

a) It enhances his marketing strategies
b) It guarantees higher commission rates
c) It ensures ethical standards in real estate practice
d) It exempts him from legal liabilities

Answer 1

Phil joined the NAR and adheres to the Code of Ethics because it upholds ethical standards in real estate, similar to professional organizations like IEEE in other fields. Codes of ethics ensure professional conduct, which can build trust with clients and impact business success indirectly.

Step-by-step explanation:

Phil is excited to join the National Association of Realtors (NAR) and abide by the Code of Ethics because it ensures ethical standards in real estate practice. This commitment to ethics is akin to professional organizations in various fields, like the Institute of Electrical and Electronics Engineers (IEEE) in science and technology, which endorse codes of ethics for their members. These ethical guidelines are critical as they dictate the professional conduct of their members, ensuring that professionals not only follow acceptable standards but also aim to protect the public by providing services that are safe and respect privacy and environmental considerations.

It is important to note that abiding by a professional code of ethics does not guarantee higher commission rates nor does it exempt a member from legal liabilities. Instead, the code serves as a standard for corporate responsibility and professional behavior that enhances the trust and relationship between the professional and their clients, which, in turn, can indirectly positively affect one's business success, including marketing strategies.

Answer 2

Phil was excited to join NAR and abide by the Code of Ethics because it ensures ethical standards in real estate practices, similar to other professional organizations that issue ethical guidelines to safeguard public interest and maintain professional integrity.

Step-by-step explanation:

Phil was excited to join the National Association of Realtors (NAR) and abide by the Code of Ethics because it ensures ethical standards in real estate practice. Professional organizations, much like businesses, tend to have a Code of Ethics to which their members must adhere. These codes aim to guide professionals in their conduct and decisions, emphasizing the integrity of their work and the interests of the public they serve.

For instance, in sectors such as science and technology, specific codes such as the IEEE-CS's Software Engineering Code of Ethics outline a professional's ethical responsibilities, which may include approving software only when it is safe and does not harm the environment or infringe on privacy rights. Similarly, for REALTORS®, the Code of Ethics comprises a set of standards expected in their professional conduct, reinforcing their commitment to fair and ethical treatment of all parties involved in a transaction. By adhering to these standards, REALTORS® like Phil maintain the trust of their clients and contribute to the overall corporate responsibility of the organization.