Housing News

NAR to adopt new Code of Excellence and embark upon Realtor ratings

nar coex

(Housing) NAR’s Board of Directors meeting has just ended, and four policy recommendations were approved, including a new Code of Excellence and a path toward standards for Realtor ratings.

nar code of excellence

Raising the bar in real estate

As part of their effort to contribute to raising the bar in real estate, the National Association of Realtors’ Board of Directors (BOD) just passed policy recommendations to implement a new Code of Excellence (COEx), seeking to “increase professionalism through increased training and recognition of competencies that consumers value,” such as proficiency with property data, privacy of consumer information, advocacy of property rights, and technology. They also debated controversial topics such as implementing Realtor ratings and increasing standards for licensure.

The Realtor of the Future Leadership Team Proposal included the following five policy proposals:

  1. Implement an aspirational Code of Excellence – approved with amendment
  2. Mandatory biennial education, testing on COE, COEx – approved with amendment
  3. Realtors will have the most comprehensive data – approved with amendment
  4. NAR should implement Realtor ratings – approved with amendment
  5. Increase standards of entry into profession – was not addressed with the BOD

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