Section 17-2609. CODE OF ETHICS FOR REAL ESTATE BROKERS, REAL ESTATE SALESPERSONS, AND PROPERTY MANAGERS

 

2609.1A licensee shall not discriminate or assist any party in discriminating in the sale, rental, leasing, exchange, or transfer of property to any person or group of persons because of race, color, religion, national origin, sex, age, marital status, personal appearance, sexual orientation, family responsibilities, political affiliation, physical handicap, source of income, matriculation, or place of residence or business, and shall comply with the Human Rights Act of 1977, effective December 13, 1977 (D.C. Law 2-38; D.C. Official Code §§ 2-1401.01 et seq.), as amended, and any other applicable District or federal anti-discrimination rule, regulation, or act. Nothing in this section shall supersede any federal rule, regulation, or act.

 

2609.2A licensee who has information that would lead a reasonable person to believe that a real estate broker, real estate salesperson, or property manager has engaged in fraud, misrepresentation, or unethical practices shall promptly report the information to the Board in any investigation or proceeding concerning any conduct prohibited by the Act.

 

2609.3The provisions of § 2609.2 of this section shall not require the reporting by a licensee acting as an officer, director, investigator, committee member, or hearing panel member of a trade association, a majority of the members of which is comprised of licensees, of such information obtained during the course of an investigation of, or hearing on, an arbitration or ethics complaint pursuant to a program established by the trade association.

 

2609.4A real estate broker shall not advertise without disclosing the broker’s name and telephone number or the company’s name and telephone number as shown by the records of the Department of Consumer and Regulatory Affairs.

 

2609.5A real estate broker shall not knowingly permit a real estate salesperson or associate broker to use the salesperson’s or associate broker’s name in any advertisement without the name of the brokerage company with whom the salesperson or associate broker is affiliated, and the main telephone number of the brokerage company or branch office which serves as the salesperson’s or associate broker’s regular place of employment.

 

2609.6A real estate salesperson or associate broker shall not knowingly permit the use of his or her name in any advertisement without the name of the brokerage company with whom he or she is affiliated, and the main telephone number of the brokerage company or branch office which serves as his or her regular place of employment.

 

2609.7A licensee shall make a reasonable effort to ensure that all written agreements for the sale, purchase, rental, lease, or exchange or real property set forth the exact agreement of the parties and that the copies of the agreements are made available to each party when the party signs the agreement.

 

2609.8A licensee shall not prepare or be a party to the preparation of any written agreement for the sale, purchase, rental, lease, or exchange or real property that falsely recites the purchase price.

 

2609.9A licensee shall make a reasonable effort to ascertain all material facts concerning each property for which an agency is accepted.

 

2609.10A licensee shall make a reasonable effort to keep informed about laws and rules, governmental policies, and current market conditions in order to advise a client properly.

 

2609.11A licensee shall exercise fidelity and good faith to a client in all matters within the scope of the licensee's employment. The obligation of fidelity to the client's interest does not relieve the licensee from any statutory or regulatory obligations toward the other parties to the transaction.

 

2609.12A licensee shall not accept compensation from more than one (1) party to a transaction without the full knowledge and consent of the other party or parties.

 

2609.13 A licensee shall disclose in writing to all parties to a real estate transaction any ownership or financial interest in the property that is the subject of the real estate transaction held directly or indirectly by the licensee, an immediate member of the licensee’s family, the licensee’s firm, or a member of the licensee’s firm.

 

2609.14A licensee who manages property on behalf of the owner of the property shall not accept any commission, rebate, profit, or other valuable consideration on expenditures made for an owner without the owner's knowledge and consent.

 

2609.15A licensee may give an opinion of the price of real estate for the purpose of a prospective listing or sale or when making a Competitive Market Analysis (CMA) if:

 

(a)The licensee physically inspects the property; and

 

(b)The resulting opinion or CMA does not refer to an appraisal and is not presented as an appraisal.

 

2609.16A licensee shall not give an opinion of the price of real estate for the purpose of a prospective listing or sale, make a competitive market analysis (CMA), or render an opinion of value on any property in which the licensee has a present interest without disclosing that interest to the client.

 

2609.17A licensee shall not give an opinion of the price of real estate for the purpose of a prospective listing or sale or make a competitive market analysis (CMA) if the licensee's employment or fee is contingent upon the amount of the appraisal.

 

2609.18A licensee shall not attempt to provide specialized professional services concerning a type of property or service that is outside the field of the licensee's experience, unless the licensee obtains the assistance of an expert, or discloses the licensee's lack of experience to the client.

 

2609.19If a licensee engages an expert, the licensee shall identify the expert to the client and inform the client of the expert's contribution to the assignment.

 

2609.20A licensee who has a listing with the owner of real property shall transmit to the owner all formal written offers received by the licensee, whether made by a prospective purchaser directly or through another licensee, unless the owner has accepted a previous offer.

 

2609.21A licensee shall not attempt to contact the owner of real property directly for the purpose of inducing the owner to break a listing agreement when another licensee has a listing on the property.

 

2609.22A licensee shall not place any signs on any property without the owner's written consent.

 

2609.23In addition to complying with the requirements set forth in this section, a licensee shall comply with the requirements set forth in the Act, the District of Columbia Real Estate Licensure Act of 1982, effective March 10, 1983 (D.C. Law 4-209; D.C. Official Code §§ 42-1701 et seq.), as amended, and the rules issued pursuant thereto.

 

 

authority

Second Omnibus Regulatory Reform Amendment Act of 1999, effective April 20, 1999 (D.C. Law 12-261; D.C. Official Code § 47-2853.10(a)(12) (2015 Repl.)), Mayor’s Order 2000-70, dated May 2, 2000, and Mayor’s Order 2009-11, dated February 2, 2009.

source

Final Rulemaking published at 52 DCR 6962 (July 29, 2005); as amended by Final Rulemaking published at 55 DCR 4596 (April 25, 2008); as amended by Final Rulemaking published at 60 DCR 5867 (April 19, 2013); as amended by Final Rulemaking published at 63 DCR 2246 (February 26, 2016).