Real Estate Ethics and Professional Conduct

The primary duty of a real estate agent to their client is to act in the best interests of the client. This means that the agent must always put the client's interests first and foremost, even if it means sacrificing their own personal or financial interests.

A conflict of interest in real estate occurs when an agent has a personal interest in the transaction that could potentially impair their ability to act in the best interests of their client. This includes situations where the agent represents both the buyer and the seller, has a personal interest in the property, or receives a commission from both parties.

The Fair Housing Act is a federal law that prohibits discrimination in housing based on race, color, religion, national origin, sex, familial status, or disability. It applies to all housing, including single-family homes, apartments, and public housing.

Real estate agents have a duty to disclose all material facts about the property to their client, to negotiate the best possible price for the client, and to provide the client with a written contract.

A material fact in real estate is a fact that could affect the value, desirability, or safety of the property. This includes facts about the property's condition, location, and title.

A real estate agent is licensed to sell real estate, while a real estate broker is licensed to sell and manage real estate. Real estate brokers can also hire and supervise real estate agents.