Idaho Real Estate Practice Exam

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Study for the Idaho Real Estate Exam. Utilize flashcards and multiple-choice questions, each with hints and explanations. Prepare for your success!

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Which organization is responsible for monitoring the Code of Ethics in real estate?

NAR
IREC
MLS
REALTORS® United

The correct answer is: NAR

The National Association of Realtors (NAR) is responsible for establishing and enforcing the Code of Ethics for real estate professionals. The NAR's Code of Ethics consists of specific standards of practice that members are expected to adhere to, promoting professionalism and ethical conduct in the real estate industry. This organization provides guidelines that help ensure fair treatment, honesty, and integrity in transactions and interactions among real estate professionals and their clients. While the other organizations mentioned play important roles in the real estate field, they do not hold the same level of responsibility regarding the Code of Ethics. The Idaho Real Estate Commission (IREC) oversees licensing and regulatory compliance in Idaho but does not enforce the NAR’s Code of Ethics. Multiple Listing Services (MLS) provide platforms for property listings and data sharing but also do not manage ethical standards directly. REALTORS® United is an advocacy organization but is not the entity designated for monitoring ethical practices in real estate. Therefore, NAR is the correct organization tasked with this responsibility.