Do you know that the National Association of REALTORS® (NAR) mandates every REALTOR® must complete at least 2.5 hours of ethics every two years to maintain your membership?
NAR’s requirement has been in effect since 2001, but in 2017 it changed from a 4-year cycle to a 2-year cycle, so the next deadline is Dec. 31, 2018.
Note: This deadline does not coincide with an agent’s Ohio ethics requirement so REALTORS® can no longer rely on meeting Ohio’s Canon of Ethics requirement to comply.
As of Aug. 31, about 75 percent of Columbus REALTORS® have NOT yet met the NAR requirement (because they have not taken ethics since January of 2017).
If this Ethics course requirement is not met, membership rights, privileges and services will be suspended this coming January until the requirement is met.
A 3-hour ethics course that satisfies the Ohio Canons of Ethics requirement also satisfies the NAR requirement.
Options for courses:
Note to Commercial members: SIOR and CCIM have ethics courses that meet the NAR requirement. If you are a member of either of those societies and have taken an ethics training course since Jan. 1, 2017, NAR has a record of compliance.
What happens if a REALTOR® doesn’t meet the training requirement on time?
From NAR: Failure to meet the requirement is a violation of a membership requirement and results in suspension of membership until the requirement is met or until membership is automatically terminated.
What are the consequences of membership suspension?
From NAR: A REALTOR® who is suspended for not meeting the REALTORS® ethics training requirement – all the rights, privileges, and services he or she is entitled to receive because he or she is a REALTOR® are suspended until he or she satisfies the training requirement. While suspended, his or her obligation to abide by the Code of Ethics continues, as does the obligation to pay dues.
What are the consequences of membership suspension on MLS?
Suspension of REALTOR® membership will, in most instances, have no effect on MLS participatory or user/subscriber privileges.
The exception would be if a REALTOR® (principal) MLS Participant is suspended for not meeting the ethics training requirement. Under such circumstances, continued MLS access is not available to licensees affiliated with a suspended Participant unless participatory privileges are transferred to another principal in the firm. MLS participatory rights cannot be suspended for REALTORS® (principals) in states where MLSs are required by law to provide MLS participatory rights to nonmembers or where an association has voluntarily opened its MLS to nonmember participation.
How long can a member be suspended for not completing their REALTORS® ethics training?
Failure to meet the requirement for any two-year cycle will result in suspension of membership for the first two months (January and February) of the year following the end of any two (2) year cycle or until the requirement is met, whichever occurs sooner.
On March 1 of that year, the membership of a member who is still suspended as of that date will be automatically terminated.