New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-08-18
ETHICS FOR BROKERS
.,,i0naI Organization Asked to
Adopt a Code.
,ur KANSAS CITY RULES
r Sears Says 1t Is Time
Action on This Subject
Was Taken.

AMONG the many important papers reao
80. National Convention OF Real Es-
Exchanges. held at Louisville, was
y" 80 John T. Sears. of Kansas City.
- about the ethics Of the brokerage
s.srsss and contained the rules of the
s' CITY Real Estate Board
-. scars said he submitted the rules
n. real estate board OF his city for
Z. consideration Of the convention in
:. hone that a code of ethics would be
s.n,sa bv the national board.
~, Is high time" added Mr.. Sears.
.sa+ We all take part in reforming our
WAS 80 that we can conscientiously ap-
'.,rs all OF our own acts in dealing with
- another as well as in dealing with the
,ssrsI public.
-bs code Of ethics Of the Kansas City
,a.rd contains thirteen positive and
,ourteen negative rules.
so-ae of che principal positive rules are:
An agent should always inspect prop
Wv II possible before offering it for sale.
"a he should always inform the buyer
he has not done so.
An agent should ask that the price be
,...onable. and tell the owner that IL
INST be so if he expects any reputable
ISN'T 10 attempt to sell II.
An agent should have II possible the
ii, agency in writing, II IL is property ne
= ylltug 70 make a special effort to sell
gnisa kind Of property in which the
.,.nt does not deal, he should refer the
-, A. soule member Of the board who
indies that kind Of property.
An agent should solicit cooperation OF
,..r members of the board in the selling
"a sole agency Iistings. unless he has
lL on or has some particular buyer III
srht 20 whom ne expects to make sale.
N agent should always be ready and
fling 70 divide the regular commission
.oually with any member Of the board
rbo can produce q buyer for any OF ms
;stngs.
An agent should always be willing to
~v full commission on property ne owns
am. instead Of acting as agent on his
do onering only one-half commits
don I, the agent who secures a buyer
IN settling differences between agents
- bstwekn agents and principals, agents
houN always invoke friendly arbitration
10 ,ns real estate board rather than IN
vos. arbitration through the courts OF
lsw.
An agent should advocate no deception
a sDecifying consideration in deed. II
me principals DO not desire TO puoiish
,ctuaI consideration. then let ii be specl-
lad as other good and valuable consdera-
Ran and one and no-l0o dollars.
TIE negative rules are probably more
npo-tsnt than the positive.
On. saws an agent should not depreci-
ue the price Of property offered TO MN
FOR sale unless the price is unreasonable
ma then he should tell the owner why
L thinks the price too high.
Another: He should not ask for q net
,5ce ON property unless the owner abso-
vtely refuses 10 give a gross price suo-
,ct to the regular commission, or utliess
b. represents the buyer and is 20 receive
.ae full commission from him
srn another negative rule IS: lie
should net encourage the owner OF prop
,rty 10 discuss price with the prospective
tuyer, but educate the owner to refer
he natter 70 the agent, as II strength
ems the agent with the buyer and VIII
enable the agent TO make better deA
.oy his principal
This is also another important one:
He should not relay property. which
means he should not submit 20 one agent
pvperty which he obtains from another
gent unless in exceptional cases. ana
lea he should let the third agent know
hat be does not have the property OIL
rect; for IN the case OF relays ne repre-
tents neither side. and the middleman Is
L0t entitled 10 the same consideration as
,iher Of the othC- agents