Professionalism in Real Estate Practice is intended to provide REALTORS® and REALTOR-ASSOCIATE®s with a concise explanation of the meaning and intent of each of the Articles of the Code of Ethics and with a brief summary of the Standards of Practice and the official Case Interpretations. Reference is made in each instance to one or more Standards of Practice or Case Interpretations.

It is anticipated that wide use of this Manual will ensure that Members will become increasingly aware of their ethical obligations, and the responsibility of each REALTOR® principal for the acts of all licensees affiliated with the REALTOR®, whether Members or not.

In the back of this Manual is a form which may be used by REALTOR® principals to enable brokers, sales-people, and licensed or certified appraisers affiliated with them to certify that they have reviewed the contents of this Manual.

Professionalism in Real Estate Practice

A PDF version of the PREP is also available.

Always refer to the Standards of Practice and Case Interpretations for comprehensive ethical guidance.

Questions concerning the meaning or application of the Code of Ethics should always be initially directed to your local Board. If your Board is unable to provide the requested information, your request should be sent to your State Association. If the information cannot be obtained from the State Association, then a request may be sent to Member Policy of the Board Policy and Programs Division, National Association of REALTORS®, 430 North Michigan Avenue, Chicago, Illinois 60611-4087. Member Policy has staff responsibility concerning the Code of Ethics and its interpretations. It is essential that any inquiry be in writing, and include copies of all related correspondence with your Board and State Association. Correspondence to the National Association should be copied to the Board and State Association for informational purposes.

Please note that wherever the term REALTOR® is used in this publication, it refers to both REALTORS® and REALTOR-ASSOCIATE®s.

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