Article 11 Suggested Time: 5 minutes Start time: __________ End time: __________ The essence of Article 11 is “competence.” The REALTOR is called to be competent in the specific real estate discipline(s) in which the REALTOR engages. Those specific disciplines are stated in the first paragraph of Article 11.
The second paragraph of Article 11 sets out the obligations of the REALTOR in providing specialized services outside the field(s) of competence of the REALTOR.
Article 11 and Article 1 can be closely linked. For example, if a REALTOR fails in his/her duty to be competent in his/her field, the REALTOR likely will not be promoting and protecting the interests of the client.
The instructor should consider a slightly different teaching approach for this Article. It is suggested that the class do the following case study first, as the case study goes directly to the issue covered by the second paragraph of Article 11. The summary of Article 11 can then be discussed in the context of the case study.
See the next page for the discussion of the case study questions.
IV. Article 11
A. Conform to the standards of practice and competence in the real estate discipline in which the REALTOR engages. Specific real estate disciplines are:
It was a listing Leo now wished he had never taken. But Keith was adamant. He wanted Leo to list the property and no one else. Leo appreciated Keith's confidence in him, but had repeatedly pointed out that his expertise was with commercial property. This was a home and in an area of the city he didn't know much about. He strongly encouraged Keith to have the house appraised. But Keith insisted that he knew the area and $166,000 was its fair market value. That seemed low to Leo, but he listed the house at Keith's price and it quickly sold to a young couple, Linda and Brian.
When he got the call from Keith five months later, Leo could immediately tell something was wrong. Keith told him about meeting the buyers, Linda and Brian, at a party. Linda was being reassigned to another city and they had received an offer on the house – for $180,000, which they declined feeling they could do even better! Keith said he was upset and disappointed that Leo had not given him better advice concerning the price.