Code of Ethics and Standards of Practice: All REALTORS® must abide by NAR's Code of Ethics and Standards of Practice. The Code of Ethics and Standards of Practice outline duties that REALTORS® have to clients and customers, the public, and other REALTORS®. While the Code of Ethics establishes obligations that may be higher than those mandated by law, in any instance where the Code of Ethics and the law conflict, the obligations of the law must take precedence.