What can happen if a broker does not comply with the Code of Ethics?

If a broker fails to comply with the Code of Ethics, they may face disciplinary actions, which can include severe consequences such as license revocation. The Code of Ethics is essential for maintaining professional integrity and trust within the real estate industry, and adherence to it is mandatory. When brokers violate ethical standards, regulatory bodies, like the OACIQ, are empowered to impose sanctions to protect the public and uphold the credibility of the profession. Disciplinary actions could range from fines to suspension and even revocation of their real estate license, which effectively bars them from practicing in the industry if the violation is severe enough. Thus, it is critical for brokers to understand and adhere to the Code of Ethics to avoid such significant penalties.