• April 20, 2024

Realtors: Introduction and Activities

What Does a Real Estate Agent Do?

A realtor is a member of the National Association of Realtors (NAR) and a real estate professional. According to the National group of Realtors (NAR), a realtor is a collective membership mark that is federally recognized and designates a real estate professional who is a member of the group and abides by its code of conduct.

Read More: Calgary Realtor

NAR Conditions

Realtors are NAR-members who are licensed professionals that assist buyers and sellers in their transactions. Not all real estate agents are regarded as realtors, even if all licensed real estate professionals are. Agents who operate as salesmen, property managers, appraisers, counselors, and other real estate professionals are among the professions who go by the title of realtor. The word “real estate” is a trademark.

As of 2024, there are 1.5 million real estate agents, brokers, and associate brokers that are members of the NAR. Realtors are required to be members of both the state association and the local board.
Realtors should be subject matter experts in their industry and adhere to the NAR code of ethics while interacting with clients, consumers, members of the public, and fellow realtors.

Realtors “shall avoid exaggeration, misrepresentation, or concealment of pertinent facts relating to the property or the transaction,” according to the code of ethics, one of its numerous mandates. “To protect and promote the interests of their client,” real estate agents are required to swear.

Making Use of the Realtor Mark

The realtor trademark is subject to strict guidelines maintained by the NAR. Professionals are authorized to use realtor trademarks in conjunction with their names and the names of their real estate companies if they are members of a member board as realtors or realtor-associates.

It is not permitted for members to utilize the realtor trademark as part of their official company name.
The NAR claims that this is done in order to prevent the legal complications that arise from changing a company name in the event that a member is suspended or expelled from the organization and loses their ability to utilize the trademark.

According to NAR requirements, if a qualifying member includes the realtor trademark in their name, it must be capitalized and punctuated to separate it from the member’s name. The Realtor trademark is not utilized by the NAR in a way that is descriptive of the profession, unlike words like real estate broker, agent, and licensee. Additionally, according to the organization, realtor trademarks cannot be used to indicate a professional’s licensing status.

What Was the Initial Year of the National Association of Realtors?

Originally called the National Association of Real Estate Exchanges, the NAR was established in 1908. It had one state association, 19 boards, and 120 members at the time.

What Is the Code of Ethics for Realtors?

Members agree to follow the Code of Ethics & Professional Standards, which is a set of guidelines centered on just and truthful behavior. Members are held to a high moral standard under the Code of Ethics.

What Distinguishes Real Estate Agents From Realtors?

To assist clients in buying and selling real estate, real estate agents must hold a state license. Real estate brokers who have chosen to join the National Association of Realtors are known as realtors.

What distinguishes a real estate agent from a Realtor?

Although the titles are different, a Realtor is a real estate agent. After completing required coursework and a state exam, all real estate agents are authorized to assist in the purchase and sale of real estate. In addition to having completed all of that, a realtor also belongs to the National Association of Realtors. Among other things, joining the organization signifies that the applicant has completed the prerequisite courses and has committed to abiding by the code of ethics and bylaws.

The Final Word

One who belongs to the National Association of Realtors (NAR) is a realtor. Agents that act as salesmen, property managers, and brokers of both residential and commercial real estate are among the professionals who can legally call themselves realtors. Realtors are required to follow the NAR’s code of ethics.