Fair housing law protected classes and the National Association of Realtors code of ethics tested on state licensing exams.
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- What are the seven federally protected classes under the Fair Housing Act?
- Race, color, religion, national origin, sex, familial status, and disability.
- What does familial status protection cover?
- Protection for families with children under 18 and pregnant women; cannot discriminate based on presence or expected presence of children.
- Under Fair Housing, what accommodation must be made for a person with a disability?
- Reasonable accommodations in policies, practices, and procedures; reasonable modifications to property.
- What is steering in real estate?
- Directing buyers or renters toward or away from certain neighborhoods based on protected class membership.
- Define blockbusting.
- Inducing property owners to sell or rent by suggesting that members of a protected class are moving into the area.
- What is redlining?
- Refusing to make loans or provide services for properties in certain areas based on racial or ethnic composition.
- Can a landlord refuse to rent to families with children?
- No, unless the property qualifies as housing for seniors or disabled persons only.
- What is the primary function of the National Association of Realtors Code of Ethics?
- To establish standards of conduct for real estate professionals and promote professionalism and integrity.
- According to the NAR Code of Ethics, what must a realtor disclose about their compensation?
- The source, amount, and terms of compensation and any contingencies affecting it.
- What does Article 1 of the NAR Code of Ethics require?
- Realtors shall not knowingly make false statements about property, comparable sales, market conditions, or values.
- Can a real estate agent represent both the buyer and seller in the same transaction?
- Yes, but only with full written disclosure and consent of both parties, and cannot give undivided loyalty to either party.
- What is a violation of the NAR Code of Ethics regarding property descriptions?
- Describing property inaccurately, omitting important information, or using deceptive advertising practices.
- What must a realtor do before placing a sign on a property?
- Obtain written permission from the property owner or authorized representative.
- According to NAR ethics, how must a realtor handle earnest money or trust funds?
- Deposit them promptly into a trust or escrow account and maintain accurate records; never commingle with personal funds.
- What is prohibited when advertising a property?
- Using discriminatory language, photos, or references to protected classes.