BAM’s Key Details:
- The NAR Board of Directors and Delegate Body met at NAR NXT in Orlando, FL
- Among the results of their meetings were some changes to the NAR Code of Ethics
- The Board of Directors voted to replace the term “handicap” with “disability”
The National Association of REALTORS® (NAR) Board of Directors and the NAR Delegate Body met on November 14th for back-to-back meetings, capping off NAR NXT, The REALTOR® Experience in Orlando, FL.
Among the results of these meetings were some changes to NAR’s Code of Ethics.
Replacing the term “handicap” with “disability”
The NAR Board of Directors voted to remove the term “handicap” and replace it with “disability” in Article 10 of NAR’s Code of Ethics, in the Standards of Practice and in corresponding references to protected classes under fair housing law.
The NAR Delegate Body approved this change, which will go into effect on January 1, 2023.
Changing the YPN Rep’s term from three years to two
The Board of Directors also recommended changing the YPN representative’s term on the Finance Committee—from three years to two—as an amendment to Article VIII, Section 1 of the NAR Constitution.
All other members on the Young Professionals Network (YPN) Advisory Board have two-year appointments. So, adjusting the term to two years creates a more consistent structure.
The Delegate Body also approved this motion, which will go into effect in 2023.
Approving amendments to the Campaign and Election Rules Manual
Directors also approved the following amendments to the Campaign and Election Rules Manual:
- Create a process for considering the removal of a NAR officer and for taking action to remove an officer for reasonable cause
- Require all elected and appointed officers to complete annual sexual harassment and diversity, equity, and inclusion training prior to their term of office.
- Establish a nepotism policy to prevent conflicts of interest and even the appearance of conflicts of interest.
The Board of Directors also sent back to the Association’s Executive Committee a proposal to create and implement an association innovator program for local associations and for REALTOR® association-owned and -operated MLSs.
Other actions by the NAR Board of Directors
Aside from the actions described above, the Directors approved or adopted a number of policies involving—
- Statewide data sharing
- Reconsiderations of real estate valuations
- Down payment assistance programs
- Special Purpose Credit Programs (SPCPs)
- NAR’s policy on water resources and federal water-related issues
- A REALTOR® Fund for Global Assistance for disaster relief
- The purchase of a master policy for NAR’s professional liability insurance program
- The purchase of a patent infringement liability policy
- Supporting private property rights in a case involving short-term rentals
- Removing the board president from the grievance process
- Replacing the term “listing broker” with “seller” in the Standard of Practice 3-9
Top takeaways for real estate agents
You know it’s critical to stay up to date with what’s happening in your local markets. It’s just as essential to understand changes from the National Association of REALTORS®.
As a Realtor, you belong to a group that both adopts and acts in accordance with a shared code of ethics. Make sure you know what those ethics are, and how to follow them in your professional life.