The Professional Standards Committee of The National Assn. of REALTORS® enacted the following changes to its Standards of Practice:
Standard of Practice 1-13 was amended to say, when REALTORS® are working with buyers or tenants, they should tell their clients that "sellers or sellers' representatives may not treat the existence, terms, or conditions of offers as confidential unless confidentiality is required by law, regulation, or agreement between the parties."
Standard of Practice 1-15 was amended to say, in response to inquiries from buyers or cooperating brokers, REALTORS® shall, with the sellers' approval, disclose the existence of other offers and also whether the offers came from the listing licensee, another licensee in that company, or a cooperating broker.
Standards of Practice under Article 10 were clarified to prohibit REALTORS® in a residential transaction from volunteering demographic information involving race, ethnicity, or religious composition of a neighborhood, while permitting them to volunteer other demographic information and to permit REALTORS® in a commercial transaction to volunteer all demographic information.
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