I started the second half of 2014 at an all-day interactive seminar at Mainstreet Organization of REALTORS™ (MORe) in Downers Grove, Illinois. This was a brainstorming event on how to raise the bar of professionalism in real estate within our association. Though 99% of the people participating were residential agents it got me thinking about commercial real estate and how are we held accountable for our professionalism in the industry.
For the first 10 years of my commercial real estate career I was not part of the National Association of REALTORS™ (NAR). Myself and most of the brokers I worked with were part of such organizations as NAIOP. This organization is to broaden a broker in commercial real estate through networking, education and workshops. There were not many conversations on ethics which can be tied, in my opinion, to professionalism. License Law of our state is what governed our conduct. The only recourse for in proper behavior would be a complaint to the license bureau of the state.
When I joined Schulz Properties, Ltd. in September of 2012 I joined MORe and agreed to follow the Code of Ethics regulated by NAR. Now as a Commercial Real Estate REALTOR™ and the incoming Chair of MORe’s MORe Commercial Committee, I have to meet additional guidelines in my everyday practice when dealing with prospects and clients beyond the standard license law, just as all residential brokers follow. These rules of ethics were established to assist myself and others in being professional at all times. Any misconduct of the rules can be mediated and sanctioned by the association (MORe), NAR or IAR depending on the grievance. They even have the authority to remove your license.
I do know in Commercial Real Estate one could join SIOR which is affiliated with NAR. SIOR stresses the importance of ethics just as NAR does. From my interactions over the years I have met few SIOR members though.
So my question to you, the CRE Brokerlist community:
How do you regulate professionalism within your own practice or your brokerage firm?
Photo Credit: “Business Graph On People” by ddpavumba Source: freedigitalphotos.net