What is a REALTOR®?
A REALTOR® is a licensed real estate professional who is a member of the NATIONAL ASSOCIATION OF REALTORS®,
The Voice for Real Estate and subscribes to its strict
Code of Ethics.
The term REALTOR® is a registered collective membership mark that identifies a real estate professional who is a member of NAR.
Not all real estate agents are REALTORS® . A licensed professional becomes a REALTOR by joining the local and state associations of REALTORS® , which entitles automatic membership in NAR.
There are approximately 2.4 million licensed real estate professionals in the United States, but only 1 million are members of NAR.
More than 1 million real estate professionals have taken the additional step to join NAR,
The Voice for Real Estate. When choosing a real estate professional, look for the registered trademark, REALTOR®.
The NATIONAL ASSOCIATION OF REALTORS has exclusive rights to the terms "REALTOR® " and "REALTORS® ".
The terms REALTOR® and REALTORS® are not generic terms. That is, they are NOT synonymous with "real estate agent" and "real estate agents."
The terms have come to be recognized as identifying members of the NATIONAL ASSOCIATION OF REALTORS®.
Term REALTOR® was coined in 1916 by a national association official, Mr. Charles N. Chadbourn, a past president of the Minneapolis Real Estate Board. Chadbourn saw the two-syllable term functioning as a collective mark to distinguish members of the national real estate association from nonmembers.
NAR registered the trademarks in 1949 and 1950. They are among the very first trademarks registered after the Lanham Act went into effect.
The term REALTOR® designates the highest standards of professionalism and commitment to NAR's strict Code of Ethics and Standards of Practice.
In adhering to the Code, REALTORS® stand for competency, fairness, high integrity, and moral conduct in business relations.
The Code obligates REALTORS® to be honest with all parties involved in a transaction, whether it is the buyer, seller, or cooperating agent.
The Code requires REALTORS® to identify and take steps to eliminate practices which may damage the public or which might discredit or bring dishonor to the real estate profession.
REALTORS® are required to take a minimum of two and a half hours orientation on the Code of Ethics when they become NAR members. Existing members must take a refresher training course every four-year cycle.
REALTORS® are strong advocates for homeowners and homeownership.
NAR is the only national lobbying group that looks out for the interests of homeowners. Every year, NAR leads the way on Capitol Hill and in the corridors of Washington to keep homeownership a top national priority.
NAR's support for the mortgage interest deduction and other federal policies helps to keep housing more affordable and makes housing a great investment. Through sound housing policies, more home seekers than ever before are enabled to purchase a home of their own.
NAR's campaign to increase consumer awareness about the value REALTORS® bring to the buying and selling process features television advertisements that air on national networks and cable.
69 percent of consumers believe REALTORS® take care of the details associated with buying and selling a home, up from 59 percent in 2000.
The same independent telephone survey, conducted by Riter Research in Baltimore, reported that the percentage of consumers who said they would "attempt" to sell their home was down to 20 percent in 2003 from 29 percent in 1999. This tracks with NAR's own research showing that the percentage of sellers who "actually do" sell their own home dropped to 14 percent in 2003, from 18 percent in 1997.
REALTORS® enjoy advanced educational opportunities and training in real estate specialties that are not available to other licensees.
Most property transactions are complex procedures, requiring the knowledge and expertise of a real estate professional. There may come a time when you need the assistance of a real estate professional who is specially trained in a specific aspect of the business.
NAR offers advanced educational opportunities to its members that enable REALTORS® to present the public with such accredited sub-specialties as buyer's representation (ABR), residential real estate expertise (CRS), or Internet readiness (e-PRO).
Through membership in NAR's affiliated institutes, societies, and councils, REALTORS® devote themselves to continuous study of the most recent trends in their respective fields. The affiliates award specialty designations that recognize a member's advanced education and experiences in a particular discipline. Courses offered through the affiliates keep members abreast of developments in their specialized fields and better able to address industry issues.
Article from Realtor.org