IN 4.0 hours Doing The Right Thing - The Code Course Syllabus
4.0 Elective Hours.
This course discusses key concepts associated with the Articles such as Article 3 which is also known as the cooperation article. Cooperate with other REALTORS® when in your client's best interest; be honest about compensation being offered.
Listing agents/brokers establish the terms and conditions of offers to cooperate. Cooperating brokers may not assume that cooperation includes compensation. Cooperating brokers must ascertain the terms of compensation, if any, before beginning efforts to accept the offer of cooperation. This also obligates the REALTOR® making an offer of compensation to timely communicate any change in that offered compensation prior to the time a cooperating REALTOR® produces an offer to purchase/lease the property. The selling REALTOR® can change the cooperative compensation by simply asking the listing REALTOR®, "What cooperative compensation would I have to accept in order to level the playing field?
The concepts of cooperation and compensation are separate issues, and it is important to note the Article's admonition that the obligation of cooperation does not include the obligation to share commissions.