The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-05-03
pRALTY BROKERS HAVE
new CODE OF ETHICS
sst Down Rules by Which They
Are TO BE Governed i'm Their
Business Dealings.

u.,,bers u the Real Estate Board Of
81 work. the brokers' organization OF
~. citv, who heretofore lived up each
bis own code of ethics. will be ex-
tod hereafter to abide by a code
rEs,ob has been adopted by the board.
w., ,here was need for rules regulating
-. dealings Of one broker with another
sss been claimed for n long time. A
asmmittee to draw up such code was
..nonted last october and their find-
'rr. uere passed unanimously by the
Y hosrd OF governors on March 10.
Here Is the code:
vhen A member accepts from another
..,,ber A customer for n property the
~, transaction closed shall relieve each
.a.r,Ser from further obligation to the
a,ssr In connection with subsequent bust
80. done with such customer unless by
nrIor written agreement to the contrary.
member shall give an unprejudiced
,o,,nIon. II he gives any. concerning an
c,her members proposition when asked to
IA "A BY a prospective customer.
yo member shall put a sign on build
,s without first having the written order
srcm the authoritative persons. and It Is
IN. sense OF this board that too many
.Iens do more harm than good.
No member shall offer property for sale
a, "a, lease or submit any application for
a ioan without the knowledge and consent
!, me owner or his authorized agent, and
men only on such terms as authorized.
No member shall furnish Information
ccncerning a property to other members
N .,her In respect to It's sale. lease A. mort
N are. claiming sole agency. unless he
l.bslI have been retained In such capacity.
IA member shall OFFER any property so
\ su-nished him upon any other terms than
,r.risely those stated 10y the member
,,ndne out the information. and all me-
citations shall be carried on through
seh member
No member shall under any conditions
claim or receive any commission or rebate
upon repairs made or supplies purchased
N the operation and management OF prop
ertes in his charge without the consent
q the owner
Members are advised to invite friendly
arbitration by the board rather than to
appeal 10 the courts OF law In settling dif-
.erences with other agents or owners.
IN all cases where an operator. owner
Or other person shall act in bad faith
toward member and the member claims
, tia, he has been unjustly deprived Of q
commission the facts may be reported to
the board Of governors and the governors
shall after consideration of tho claim re-
cues, the operator or owner or other per-
son 10 arbitrate the claim OF the member
and shall preserve records of all requests
10 arbtrate and answers thereto. which
I shall at all times be open for the inspec-
4 ton OF the member OF this board.
II All requests for arbitration. complaints
and communications Of any kind TO the
board must be made In writing.
The term member" as used herein
shall include all resident or nonresident
members and men associated In a men,
| hers Office.
A member shall not put his name in the
| leyspapers In connection with transac-
ESn unless he receives a part OF the COM
mission or has actually acted as agent
FOR one Of the parties.
In case OF any infraction Of these rules
ne board Of governors shall determine
the penalty. which at the option OF tho
governors shall be a reprimand. suspen
sion for given period or expulsion.
The committee which drew up the
code Of ethics consisted OF Lawrence b
Gilman. chairman; a. V. Amy Alder,
h. Ashforth, Warren Cruikshank. J. II
Hallock L. l.. King, J. u. Kirwir. J
Edgar Leaycraft. Alfred F.. Marling
Ia NJ D. Mcclure. A. w. Mclaughlin
= irving Rutland, F.. A. Shaw. Elisha
;nifin. Walter Stabler. E. A. Tredwell
WI Van Pelt and +. r. Wood.