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Why do we have a code of ethics.
Realtor lock box rules. In our area we are suppose to use real estate lock boxes not combos. This company marketplace homes offers too homeowners that can not sell their home due to poor conduction of the home or just can t sell for some reason. Those rules probably provide that the code or key is for your exclusive use only and prohibit you from giving out the code or key to any one else. Insurance coverage of lock box deposit account maintained by real estate agent fdic 86 20 july 21 1986 patti c.
The managing agent collects. Mlss may as a matter of local option require placement of an mls approved lock box on listed properties if any device giving access to real estate professionals and or service providers is. At the 2012 nar midyear legislative meetings trade expo the board of directors approved inclusion of the following new paragraph in mls policy statement 7 31 lock box security requirements. Realtor rules bylaws nvar administers proceedings for violations of the code of ethics lockbox rules and the nvar bylaws as well as monetary disputes between brokers.
The realtors code of ethics is more than a conceptual guide to right and wrong. If you are leasing the lock box through your local board of realtors or mls your use of that lock box is subject to specific rules regarding its usage. Fox attorney in your letter of may 20th you requested information regarding deposit insurance coverage on a lock box deposit account maintained by a real estate management agent x corporation.
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