Inside LIBOR’s Professional Standards Process

The Long Island Board of REALTORS® (LIBOR) manages a systematic process to handle disputes regarding the professional conduct of its members.

At its heart, LIBOR’s Dispute Resolution Center offers members and consumers a vehicle to resolve complaints of violations of the National Association of REALTORS® (NAR) Code of Ethics as efficiently and economically as possible.

The Code of Ethics sets forth a REALTOR®’s obligation to clients and customers, members of the public and one another. The Code consists of 17 articles, one of which (Article 10) expands upon federal fair housing policy by requiring REALTORS® to pledge that they “shall not deny equal professional services to any person for reasons of race, color, religion, sex, handicap, familial status, national origin, sexual orientation, or gender identity.”

LIBOR’s dispute resolution services include arbitration hearings, ethics hearings, mediation and ombudsman services. Arbitration is reserved for monetary disputes between REALTOR® Principals, whereas ethic complaints may be filed by consumers or other REALTORS® against any LIBOR REALTOR® member. At these hearings, REALTORS® are judged by their peers as opposed to others who may be far less familiar with the practices of the real estate industry.

Upon the filing of a complaint, the LIBOR Grievance Committee reviews the facts asserted in the complaint and its accompanying narrative to determine whether any potential violations are possible.

If the Committee concludes that a violation of the Code of Ethics is likely, the complaint is forwarded to the LIBOR Professional Standards Committee for a due process hearing on the charges, allowing the member to present her or his own case. The Hearing Panel, which consists of Professional Standards Committee members, votes on the charges to determine if there has been a violation of the Code of Ethics.

Violations of the Code of Ethics can result in disciplinary action against a REALTOR®, ranging from a warning, requirement of educational training, fines of up to $15,000, suspension or even expulsion from LIBOR (or any combination thereof).

For a comprehensive review of LIBOR’s dispute resolution services and the process to file a complaint, please visit https://www.lirealtor.com/legal/dispute-resolution-center.