unit 10 Flashcards
What ethical standards guide real estate professionals?
The Code of Ethics and Standards of Practice set forth by NAR
Identify two duties to clients set forth in the Code.
Avoiding exaggeration, misrepresentation, and the concealment of pertinent facts.
Informing sellers or purchasers of the licensee’s interest in a property.
List two duties to the public set forth in the Code.
Providing equal, non-discriminatory services to all persons.
Refraining from providing professional services outside the licensee’s field of expertise.
List two steps a managing broker should take to ensure compliance with Fair Housing laws.
Prominently display in all offices the Equal Opportunity Poster that HUD distributes.
Provide ongoing training and education to all affiliated licensees. by holding seminars and workshops, watching videos, and bringing in guest speakers.
What is significant about the Fair Housing Amendments Act of 1988?
It added handicap and familial status to the list of protected classes.
Describe the exemption that exists for familial status discrimination.
Housing for older persons is exempt if one of the following conditions exist:
The HUD Secretary has determined that it is specifically designed for, and occupied by elderly persons under a federal, state, or local government program.
It is occupied solely by persons who are 62 or older.
It houses at least one person who is 55 or older in at least 80 percent of the occupied units, and adheres to a policy that demonstrates the intent to house persons who are 55 or older.
Alex Jones owns a duplex and lives in one unit. He refuses to rent the other unit to families with children. What would you say about Alex’s actions?
Alex is within the guidelines of the Fair Housing Act since he is the owner of a dwelling that has less than four units, one of which is owner-occupied.
If a person feels like they have been discriminated against, how long does that person have to file a complaint?
With HUD—within one year of the alleged act.
In state or federal court—within two years of the alleged act.
Why is it important for licensees to understand the Americans with Disabilities Act?
Brokers need to evaluate whether they need to make physical changes to their office space to comply with the law. Licensees should inform their commercial and investor clients of the need to have their leases professionally evaluated and their offices inspected for compliance.
List three activities that are considered discriminatory in real estate.
Refusing to sell, rent, or negotiate with any person who is a member of a protected class.
Telling persons that a property is not for sale or rent when it is.
Denying membership in any multiple listing service (MLS) or any broker’s organization.
What is blockbusting?
Blockbusting is making a profit by inducing owners to sell by telling them that persons of a protected class are moving into the neighborhood which will have detrimental results.
How is “testing” defined?
A simulated housing transaction designed to obtain evidence of differential treatment based on an individual’s protected class status.
Fair Housing law first began with the ,,,,,,, which prohibited discrimination in housing based on race.
Civil Rights Act of 1866
The list of protected classes of the Federal Fair Housing Act are:
Race
Religion
Color
National origin
Sex
Handicap
Familial status
Any person who believes they have been discriminated against may file a complaint with HUD within ……….. of the alleged act.
one (1) year
