Chapter 3: Agency, brokerage and ethical considerations. Key Terms Part 3 Flashcards
Standard of care
The confidence normally expected
Code of ethics
Standards of conduct adopted by realtors
Conflict of interest
Problem is one serving best interests of both the client and oneself.
Errors and omissions insurance
Real estate equivalent of malpractice coverage, it does not cover fraud.
Fraud that is committed by someone who should have known better.
Graduate, realtor Institute
The designation awarded for advanced study
Unintentional deception committed in ignorance
National Association of realtors
A private nationwide organization of brokers and sales person’s
The New Jersey Association of realtors
The state wide group of real estate licensees who choose to join.
A member of a private national organization.