What is the main purpose of the Standard of Practice?

The primary purpose of the Standard of Practice is to clarify, interpret, or provide examples of an article's intent. Standards of Practice serve as guidelines that help real estate professionals understand the application of ethical and legal responsibilities outlined in the code of ethics. By providing clarity and interpretation, these standards ensure that licensees are better equipped to uphold their duties to clients and the general public.

This is especially important in real estate, where ambiguous situations can arise that require clear guidance to navigate responsibly. By using the Standards of Practice, real estate professionals can ensure consistent application of the principles in real-life scenarios, thus promoting best practices within the industry.

While aspects such as customer service guidelines or competition regulations are important in real estate, they do not encompass the main role of the Standard of Practice, which is focused on interpretation and clarification of the ethical framework. Similarly, punitive measures are not the core intent of these standards; rather, they aim to foster understanding and compliance.