Code of Ethics and Standards of Practice of

the CCIM Institute of the National

Association of REALTORS®

CCIM DESIGNEES and CCIM Institute CANDIDATES are members of the CCIM Institute

(referred to herein as the Institute). Where the term "CCIM Institute Members" is used in this

Code and Preamble, it shall apply to both categories of membership.

While the Code of Ethics establishes obligations that may be higher than those mandated by law,

in any instance where the Code of Ethics and the law conflict, the obligations of the law must

take precedence.

PREAMBLE

Under all is the land. Upon its wise utilization and widely allocated ownership depend the

survival and growth of free institutions and of our civilization. Institute members should

recognize that the interests of the nation and its citizens require the highest and best use of the

land and the widest distribution of land ownership. They require the creation of adequate

housing, the building of functioning cities, the development of productive industries and farms,

and the preservation of a healthful environment.

Such interests impose obligations beyond those of ordinary commerce. They impose grave social

responsibility and a patriotic duty to which Institute members should dedicate themselves, and

for which they should be diligent in preparing themselves. Institute members, therefore, are

zealous to maintain and improve the standards of their calling and share a common responsibility

for its integrity and honor.

In recognition and appreciation of their obligations to clients, customers, the public, and each

other, Institute members continuously strive to become and remain informed on issues affecting

real estate and, as knowledgeable professionals, they willingly share the fruit of their experience

and study with others. They identify and take steps, through enforcement of this Code of Ethics

and by assisting appropriate regulatory bodies, to eliminate practices which may damage the

public or which might discredit or bring dishonor to the CCIM designation, the CCIM Institute

or the real estate profession.

CCIM Institute members having direct personal knowledge of conduct that may violate the Code

of Ethics involving misappropriation of client or customer funds or property, willful

discrimination, or fraud resulting in substantial economic harm, bring such matters to the

attention of the appropriate Board or Association of REALTORS® and the CCIM Institute.

(NAR Amended 1/00; CCIM Amended 10/06)

Realizing that cooperation with other real estate professionals promotes the best interests of

those who utilize their services, Institute members urge exclusive representation of clients; do

not attempt to gain any unfair advantage over their competitors; and they refrain from making

Code of Ethics 2 | P a g e

unsolicited comments about other practitioners. In instances where their opinion is sought, or

where Institute members believe that comment is necessary, their opinion is offered in an

objective, professional manner, uninfluenced by any personal motivation or potential advantage

or gain.

The CCIM designation has come to connote competency, fairness, and high integrity resulting

from adherence to an ideal of moral conduct in business relations. No inducement of profit and

no instruction from clients can ever justify departure from this ideal.

In the interpretation of this obligation, Institute members can take no safer guide than that which

has been handed down through the centuries, embodied in the Golden Rule, "Treat others the

way you would wish to be treated."

Accepting this standard as their own, Institute members pledge to observe its spirit in all of their

activities whether conducted personally, through associates or others, or via technological means,

and to conduct their business in accordance