Professional Standards
The Professional Standard that sets REALTORS® apart from other real estate practitioners is their acceptance and adherence to the Realtor Code of Ethics. The Code has been revised many times through the years to reflect current developments in professional real estate practice. But even with the best of intentions, planning and preparation, occasional disagreements arise between REALTORS® and/or between REALTORS® and their clients or customers. As civil litigation becomes increasingly costly, time consuming, and burdensome, there has been a trend among private parties to settle disputes and conflicting claims through alternative means.
When disagreements or disputes arise, there are several ways to address and resolve them. Our goal is to provide fair, efficient and cost-effective options that help all parties find common ground.
Ombudsman
Informal telephone mediation. In some cases it aca address and solve minor complaints from the public. It can also solve inter-REALTOR® conflicts before they become serious problems. Like a mediator, an ombudsman helps parties find solutions. The ombudsman process does not replace mediation; rather, it is a more informal process that will take place earlier and that will, if successful, avoid the need for a more formal mediation process and potentially a formal ethics hearing or arbitration hearing.
Mediation
Informal meeting (ideally it is between the broker/manager) of the two firms and one mediation officer. If agreement not reached, the issue will be sent to a hearing.
'Mediation' is a mandatory step to take prior to arbitration. This is a free service. We have found that when mediation occurs the member tends to quickly settle in order to avoid any further issues – such as an arbitration request. There is no guarantee, and again, the REALTOR® can refuse to participate. However, there is no cost to initiating it, and after a refusal or failure of mediation, you can choose to follow it up with an arbitration request and/or ethics complaint.
Arbitration
Formal hearing with witnesses, attorneys, three to five panel members, formal statements.
The panel makes final decision and there is no appeal.
An 'Arbitration Request', is centered around monetary disputes. In this method, the association (a specially trained panel of peers) will arbitrate the issue and determine if monetary compensation should be granted. We require a $500 deposit to initiate an arbitration request, which would be returned to you IF you win the case. If you lose, we keep the deposit. All REALTORS® are mandated to participate in confirmed arbitration requests, and refusal to do so can result in their expulsion from membership.
You can file both an Ethics Complaint and an Arbitration Request on the same issue, but we will hold off on processing the Ethics Complaint until the Arbitration process is completed.
The Goldsoboro-Wayne County Association of REALTORS® is committed to upholding the highest principles of our association and ensuring that our members uphold, respect, and adhere to the REALTOR® Code of Ethics.
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ARTICLE 12 - REALTORS® shall be honest and truthful in their real estate communications and shall present a true picture in their advertising, marketing, and other representations. REALTORS® shall ensure that their status as real estate professionals is readily apparent in their advertising, marketing, and other representations, and that the recipients of all real estate communications are, or have been, notified that those communications are from a real estate professional. (Amended 1/08)
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How It Works​