Are you INSPIRED? Jessica is, and she believes the #1 key to being better and achieving more is finding your inspiration. As the head of the Oklahoma Realtors Association, Jessica breaks down the Code of Ethics, what it means, and how it is used to uphold the name of realtors nation-wide. Tune in to learn why you must be familiar with the Code of Ethics, whether you are a realtor or a client, and how you can do your part to raise the bar in the industry.
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Time Stamped Show Notes:
- 00:38 – Jessica is the head of the Oklahoma Realtors Association
- 00:56 – She runs the association and has been in management for 5 years, she was a real estate broker before that
- 01:30 – She manages over 11,000 realtors in the state
- 01:44 – Complaints filed and professionalism in the industry; what has she seen?
- 02:32 – All associations offer Professional Standards Administration and all realtors agree to abide by a code of ethics
- 02:52 – Code of Ethics is administered by state or local association; in OK the Association manages it state-wide
- 03:10 – Ethics complaints and arbitration requests can be filed through Association
- 03:19 – Ethics complaints are reviewed by peer panel
- 03:52 – Read a copy of the Code of Ethics at http://www.nar.realtor/
- 04:02 – Good realtors know the Code of Ethics
- 04:45 – Local association: new members start here, MLS, education benefits, advocacy work, professionalism piece
- 05:05 – Conglomeration of local associations with oversight and the voice of the state realtors and National Realtors Association (NAR)
- 05:45 – Code of Ethics is broken into 3 parts: duties to public, duties to customers and clients, and duties realtor-to-realtor
- 05:55 – The public or a realtor can (and should!) file a complaint when a breach has been made
- 06:10 – Not all realtors are created equal, and filing complaints allows the bad seeds to be weeded out so they don’t continue to hurt others
- 06:28 – What kinds of complaints come in?
- 06:35 – Article 12: Whether a realtor has displayed a true and accurate picture in advertising
- 06:48 – Instagram or over-Photoshopped photos that look nothing like the true home
- 07:05 – Some Photoshop is okay (lifting shadows, blurring dead grass spot in yard)
- 07:14 – Example of inaccurate photos: removing power lines from back yard
- 07:45 – Why is it bad to over-Photoshop?
- 07:54 – Being caught off-guard and surprised; many people nowadays are purchasing their home online
- 08:10 – They may not even see the house until they’ve already closed and are moving in
- 08:30 – Realtors and the public want realtors to raise the bar of professionalism
- 08:39 – Turn in the people violating the Code of Ethics to help raise the bar
- 08:47 – Code of Ethics also warns against slander, how does this affect turning people in?
- 09:02 – You are doing worse if you slander online via social media
- 09:20 – Do something about it but don’t slander, turn them in if they are in violation
- 09:40 – What kind of realtor-to-realtor misconduct do you see?
- 09:44 – Article 2: Exaggeration, misrepresentation, and concealment of pertinent facts
- 09:59 – Revealing facts or confidential information; Agents give away the client’s negotiation position via text message trying to get a deal and the other agent turns them in
- 10:40 – How would you ever know if your realtor is doing this? There is no way to know
- 10:51 – Keep educating members to remain upright and forthright in everything they do; you never know who you are dealing with
- 11:20 – Jessica was a consumer recently: What questions did she ask to select a realtor?
- 11:49 – She chose someone in leadership in the city where she was buying
- 12:09 – Ask questions before agreeing to work with someone
- 12:19 – How many houses have you sold? How experienced are you? How many deals do you have going on right now?
- 12:45 – She went for someone in a volunteer leadership role, she thinks the public should, too
- 13:38 – Leader will have a vested interest in the realtor organization in general, are committed to Code of Ethics, giving back to association, and a higher level of professionalism
- 13:56 – People that are not volunteers can be professional, too, volunteers are just more likely to uphold standards
- 14:14 – Great realtors should consider volunteering to be heard; 1 in 287 Americans is a realtor, stand out as one less likely to cause trouble
- 15:18 – Realtors can be on top of their game with a desire to serve, get educated, and do a better job
- 15:53 – If a midline realtor want to get better, more active, and more educated about entire picture
- 16:20 – Find inspiration (mentor, group, giving back)
- 16:59 – She finds her inspiration through her support system at home
- 17:24 – If you aren’t at the top of your game, there are resources to get better and stop selling consumers short
- 18:13 – Oklahoma realtors can email Jessica directly at: firstname.lastname@example.org
- 18:29 – Follow Jessica on social media:Twitter&Facebook
- 18:30 – Reach out to your state association leadership to get involved and heard
3 Key Points
- Become familiar with the Code of Ethics whether you are a realtor or client.
- File a complaint if you see a breach of the code; this is how the bar of professionalism in the industry can be raised.
- As a client, ask questions to ensure your realtor is a good fit and as a realtor, step up your game, get involved, and strive to be better.