This board was founded in 1923 and consists of real estate brokers, agents, appraisers, and mortgage lenders who are members of the National Association of Realtors® (NAR). In addition to being responsible for the formation and enforcement of rules governing the conduct of its members, MIBOR also provides networking opportunities, continuing education courses, and numerous services to its members while promoting public awareness and protection of real estate rights.
The primary purpose of MIBOR is to ensure that its members adhere to ethical standards and maintain a high level of professionalism in their work. This is done by requiring all members to follow the Code of Ethics outlined by NAR, which is then enforced at the local level by the MIBOR Board of Directors. This Code of Ethics sets standards for fair housing, fair dealing, honesty, integrity, professionalism, and disclosure. As part of this mission, MIBOR also provides various services to both real estate practitioners and clients, such as an arbitration process for resolving disputes between members and consumers.
In addition to the services MIBOR provides to its members, the board is also responsible for collecting and disseminating the local real estate data. For example, MIBOR collects information on local real estate trends, including market activity and property values, and makes this data available to members and consumers through its monthly publication, “Real Estate Market Flash”. The data collected also helps inform market trends and pricing too.
MIBOR also offers an array of educational programs and networking events for its members. These include monthly meetings, professional development workshops, and educational seminars. Additionally, members have access to networking opportunities through MIBOR’s multiple online platforms including blogs, discussion forums, and social media groups.
In conclusion, MIBOR is an important source of guidance, support, and resources for real estate practitioners in Central Indiana. By enforcing the Code of Ethics from the National Association of Realtors®, MIBOR works to provide a safe and professional environment for the practice of real estate in the region. In addition to this, the board also offers members access to valuable data and numerous educational and networking opportunities. All of these services and resources help to make the Central Indiana real estate market a better place for all involved.
A Summary of MIBOR:
The Metropolitan Indianapolis Board of Realtors® (MIBOR) is a non-profit trade organization for real estate professionals in Central Indiana. As part of its mission, MIBOR enforces the Code of Ethics of the National Association of Realtors®, provides various services and resources to members and consumers, and collects and disseminates local real estate data. Some examples of services offered by MIBOR include an arbitration process for resolving disputes, educational programs and networking events, and access to valuable data such as monthly market trend reports. Overall, MIBOR works to ensure that real estate professionals in the region practice with a high level of professionalism and ethics, while providing invaluable resources and support to ensure success in the business.
This article was contributed on Nov 16, 2023