Social Media Ethics for REALTORS

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Post on 09-Feb-2017

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PowerPoint PresentationSocial Media Ethics for Real EstateMarki Lemons-RyhalLearning Objectives Upon completion of Social Media Ethics for Real Estate class, you will be able to:Define Social MediaIdentify two key aspirational concepts found in the Preamble to the REALTORS Code of EthicsDescribe general business ethics, and compare and contrast the REALTORS Code of Ethics with business ethicsExplain the concepts established in Articles 1, 11,12, and 15 of the Code of EthicsSummarize possible violations of the Code of Ethics specifically related to the Articles 1, 11, and 12 after reviewing case studiesExplain the professional standards process for enforcing the Code of EthicsImmediacyFrequencyLongevityGive to GetGenuine InterestEnjoyment and FunInstant Information AccessAuthenticityRecognizing New RulesBUILD519081913Code of Ethics Adopted in 1913Established professional standards for conductFirst ethical code for business after medicine, engineering, and lawFocused on:Service to the publicCommitment to professionalismIncluded Duties to Clients, Customers, Public, and REALTORSAccepting this standard as their own, Realtors pledge to observe its spirit in all of their activities whether conducted personally, through associates or via technological means. What Is Social Networking? Issues with Social Networks12Maintain and improve the standards of our calling including the risk and benefits associated with relevant technologyAs a practical matter, social media is now a regulated industry; and all stakeholders are responsible for compliance with the FTC Guides. As a result, all marketers, agencies, and brands must develop a culture of compliance.-Tony DiResta, Partner at Winston & StrawnGeneral Counsel of WOMMA15Article 1When representing a buyer, seller, landlord, tenant, or other client as an agent, Realtors pledge themselves to protect and promote the interests of their client. Protect the consumer, and you protect the opportunity-Michael Becker, Managing Director for North AmericaMobile Marketing Association17Article 1 Case Study18Carl Ryhal a Broker with Inman Real Estate Services & Sales posted a photo of an executed sales contract on Facebook. Broker Ryhal did not have the buyers to sign a buyers agreement. The buyers have introduced Broker Ryhal as their agent to their friends. The property has not closed and it is not public information that there is a pending transaction. 1) Is Broker Ryhal in violation of Article 1?2) If you answered Yes please explain why.3) Brokers Ryhal primary obligation is to:a) Clientb) Customerc) Agentd) Broker4) What would Broker Ryhal need and from whom to make his actions acceptable?Tell clients do not discuss their real estate transaction ONLINEArticle 11REALTORS shall not undertake to provide specialized professional services concerning a type of property or service that is outside their field of competence unless they engage the assistance of one who is competent on such types of property or service, or unless the facts are fully disclosed to the client. BE ANDTRUTHFUL IN COMMUNICATIONSArticle 12Present a true picture in advertising, marketing, and other representations.Ensure that your status as real estate professional is readily apparent in advertising, marketing, and other representations.ONLY 1 Out Of 4Informal Posts May Be AdvertisingThey consider a message that is designed to attract public attention or patronage to a product of business, an advertisement. It is narrowed down to directly or indirectly.Regulatory Compliance Issue28Article 12Realtors shall be honest and truthful in their real estate communications and shall present a true picture in their advertising, marketing, and other representations. Realtors shall ensure that their status as real estate professionals is readily apparent in their advertising, marketing, and other representations. Article 12 Case Study 30REALTOR Allen of Get It Done Real Estate is a forward thinking broker who is abreast of current marketing tools for real estate. REALTOR Allen is a big fan of Instagram and markets listings daily via Instagram. The properties that REALTOR Allen markets are not listings of his sponsoring broker but listings of top firms in the areas that he serves. REALTOR Allen learned today that Big Realty has filed a complaint against him and his sponsoring broker Get It Done Real Estate for violating Article 12. Big Realty has stated that REALTOR Allen and Get It Done Real Estate have advertised a property without authority and presents a false picture on Instagram and the internet to potential buyers and sellers.During the hearing it is revealed that in REALTOR Allens marketing he has never disclosed the name of the real estate firm he is affiliated with and none of his post link to a display that includes the firm he is affiliated with. 1)Has REALTOR Allen violated Article 12?a)Yesb)No2)Which Standard of Practice applies to this situation? a)Standard of Practice 12-4b)Standard of Practice 12-5c)Standard of Practice 12-10d)All of the above3)Is there anything else that REALTOR Allen may have violated? ALWAYS GET PERMISSION FROM THE SOURCE AND GIVE THEM CREDIT.Article 15The obligation to refrain from making false or misleading statements about other real estate professionals, their businesses and their business practices includes the duty to not knowingly or recklessly publish, repeat, retransmit, or republish false or misleading statements made by others. This duty applies whether false or misleading statements are repeated in person, in writing, by technological means (e.g., the Internet), or by any other means. Social Media Ethics for Real Estate