Final answer:
The NAR Code of Ethics requires real estate professionals to act within their areas of knowledge and expertise to ensure ethical and competent service. This parallels professional ethics in other industries, such as technology, where IEEE-CS set standards for software engineers.
Step-by-step explanation:
The NAR Code of Ethics stipulates that real estate professionals should act 'within their specialty.' This means that real estate agents and brokers are expected to provide services in the areas of the real estate industry in which they are educated and knowledgeable.
They should not engage in real estate transactions that fall outside their realm of expertise, as doing so can mislead clients and result in professional malpractice. As in other professional sectors, such as science, technology, and healthcare, there is an emphasis on adherence to ethical standards that guide professionals in their practices.
In the context of the NAR Code of Ethics, if a real estate professional is asked to perform services that are outside of their area of expertise, they should refer a client to another professional who is qualified to handle that particular aspect of real estate.
This ensures that clients receive competent and professional services and also preserves the integrity of the real estate professional by acknowledging the limits of their expertise. The IEEE-CS's Software Engineering Code of Ethics and Professional Practice is another example of a professional code of ethics.
It mandates that software engineers must deliver work that meets professional standards and criteria, ensuring safety, privacy, and environmental sustainability.