OK so I’m still trying to understand the implications of this but when Rob Hahn who can list a law degree among his credentials sounds concerned about the legal implications of something – I listen.
One change that was approved last week during the NAR midyear business meetings (unlike MIBOR) was an amendment to the Realtor Code of Ethics addressing issues around social media- the specific language isn’t yet available but here is some information posted from a newsletter:
Standard of Practice 15-2 was amended and a new Standard of Practice was approved to strengthen members’ obligations to refrain from making false or misleading statements about competitors, including in use of social media tools.
The new amendment includes the duty to publish a clarification about, or to remove statements made by, others on electronic media the REALTOR® controls once the REALTOR® knows the statement is false or misleading. For example, if you’re publishing a blog and someone posts a false or misleading comment about a fellow REALTOR® on it, it’s your duty to remove the post or publish a clarification when you become aware of it.
Go check out the original story on VARbuzz – the Virginia Association of Realtors blog on the Potential Catch 22: New NAR Code of Ethics Amendment and also read Rob Hahn’s response: Questions on the new NAR Code of Ethics Policy
Both posts go into greater depth than I feel comfortable commenting on right now but as Rob said on Twitter, this issue “makes the whole “indexible IDX” thing look like a mild breeze in a teapot. Holy crap!”