On November 16, 2009, the National Association of REALTORS approved RLI's request to add the land discipline to Article 11 of the NAR Code of Ethics. Article 11 explains that REALTORS should not provide specialized professional services concerning a type of property or service that is outside their field of competence -- unless they either engage the assistance of someone who is competent in a specific discipline, or fully disclose to the client that they do not possess expertise in a particular area.
Earlier in the year at the NAR Midyear Meetings, 2009 National RLI President Keith Morris, ALC, addressed NAR's Professional Standards Committee on the importance of adding "land brokerage" to Article 11. His recommendation was unanimously approved with a resounding round of applause. A motion for the amendment was subsequently approved by the NAR Executive Committee and the NAR Board of Directors. The final approval of the amendment was made by the NAR Delegate Body at the NAR 2009 Annual Conference & Expo in San Diego.
Effective January 2010, the new Article 11 will read:
Article 11: The services which REALTORS provide to their clients and customers shall conform to the standards of practice and competence which are reasonably expected in the specific real estate disciplines in which they engage; specifically, residential real estate brokerage, real property management, commercial and industrial real estate brokerage, land brokerage, real estate appraisal, real estate counseling, real estate syndication, real estate auction, and international real estate.
REALTORS shall not undertake to provide specialized professional services concerning a type of property or service that is outside their field of competence unless they engage the assistance of one who is competent on such types of property or service, or unless the facts are fully disclosed to the client. Any persons engaged to provide such assistance shall be so identified to the client and their contribution to the assignment should be set forth.