NAR Ethics Update – Free to SMDRA REALTOR® Members Beginning in 2017
All REALTORS® Must Complete an Ethics Update Class by December 31, 2016
If you have NOT taken an Ethics class after January 1, 2013, you must do so by December 31, 2016.
This requirement is completely distinct and separate from the Real Estate Commission Update required by the State of Colorado, Department of Regulatory Agencies. The Ethics Update course will apply toward the elective credits required to renew your license.
All REALTORS® are required by the National Association of REALTORS® in compliance with SMDRA’s bylaws, to complete a minimum of 2.5 hours of an ethics update course. If a REALTOR® member fails to complete their Ethics Update Requirement, their membership will be suspended until the completion of an ethics course or until they can provide proof of their ethics course completion to the South Metro Denver REALTOR® Association.
NAR’s latest Ethics Requirement Cycle begins on January 1, 2017, and has switched from a four year to a two year cycle. Beginning in 2017, SMDRA will provide FREE NAR Ethics Updates to SMDRA members. Additionally, only NAR Ethics classes taken at a REALTOR® Association will be considered as successfully completing the REALTOR® ethics requirement (Ethics Updates taken at real estate offices, title agencies, loan agencies, etc., will not count)
Frequently Asked Questions:
1) Why is this only now being offered as a free class?
The NAR ethics cycle has changed – the class now needs to be taken once every two years. As part of SMDRA’s value proposition to provide only the highest value to our members, we want to help make that requirement easier to meet.
2) Is this class free for all REALTORS®?
No, this class is only free for SMDRA Members in good standing. Non-members and members of other Associations will still have to pay the class registration fee.
3) Why does the class have to be taken with a REALTOR® Association? Why I can’t I take it through my office, or with a title agency like I’ve always done?
The NAR Ethics Update is a REALTOR® requirement, part of your duty to live by and uphold a higher professional standard. As a matter of ensuring quality and that the reporting requirements are met with regard to the National Association of REALTORS® Required Ethics Training, SMDRA will no longer accept courses administered by any other entity than a REALTOR® Association (local, state, or national level.)
4) Will the NAR Ethics Update class still count for Continuing Education credit?
Yes, the class will still count for 4 hours of CE credit.
5) Does taking the class online through NAR count as taking it through a REALTOR Association? What about through Van Ed or the CE shop?
Yes – taking the class through the National Association of REALTORS® website is an accepted way of taking the update course. SMDRA will continue to accept courses taken through our online education partners VanEd and The CE Shop.
6) When does the new cycle start and end?
The new cycle begins January 1, 2017, and ends December 31, 2018. The following cycle begins January 1, 2019 and ends December 31, 2020.
7) Will my previous Ethics update classes still count, even if I didn’t take them with a REALTOR® Association?
Yes, all Ethics update classes taken during Cycle Four will count towards your Ethics requirement, no matter where or how they were taken.
8) Does the Professional Standards Update class still count as an NAR Ethics Update?
Yes, the annual Professional Standards class will continue to fulfill the Ethics requirement.
9) If I took the class in 2016, can I get my money back?
10) For Affiliate members – will the class still be available for sponsoring? Will the class being free for members affect the cost/nature of sponsoring?
Yes, it is still available for sponsoring, and no, this will not affect the nature of the sponsorship.
Code of Ethics: Good for Your Clients and Your Business
NAR Online REALTOR® Code of Ethics Training Course – FREE NO CE Credit. REALTORS® can stop and restart the course at their convenience within a 30-day time period. Successful completion is recorded in the National REALTORS® Database System (NRDS) and satisfies a member’s Code of Ethics training requirements.