Which statement is true about a REALTOR®'s responsibilities?

A REALTOR® is a member of the National Association of REALTORS® (NAR) and is bound by a specific code of ethics that outlines their responsibilities and ethical obligations in the real estate profession. This code promotes professionalism and integrity in real estate transactions, ensuring that REALTORS® act in the best interest of their clients while adhering to fair and honest practices. Following this code of ethics is fundamental for maintaining trust in the real estate industry and fostering a positive relationship between REALTORS® and the communities they serve.

The other statements do not accurately represent the responsibilities of a REALTOR®. They must indeed abide by ethical guidelines, they have restrictions when representing both buyers and sellers (such as full disclosure and possible conflicts of interest), and their work is not limited to just residential real estate; REALTORS® can also deal with commercial, industrial, and agricultural properties.