REALTOR®
or Real Estate Agent?
What's the Difference?
from the National Association of REALTORS®
Not all real estate agents are REALTORS®. A REALTOR® is an individual licensed by their State to list and sell real estate Plus they are also a member of a local Board/Association of REALTORS®, the State Association of REALTORS® and The National Association of REALTORS® (NAR).
When agents pass their licensing exam they may begin to list and sell real estate and they are only obligated to their broker. But when an agent becomes a REALTOR®, they must agree to conduct their business in a way that adheres to the National Association of Realtors® strict Code of Ethics. A Code of Ethics that goes beyond state licensing requirements and enforces ethical requirements that dictate the conduct through all aspects of the agent’s profession, including working with consumers and fellow agents, truthful advertising, honest representation, and guidelines for ongoing continuing education requirements.
A REALTOR® is the recognized professional in real estate. The distinctive REALTOR® is your guarantee that you're dealing with the elite of the real estate profession.
To verify and agent’s state license you can inquire at to the agent’s status from the State Department of Professional and Occupational Regulation office.
To verify membership in the Association of Realtors® contact via mail the Membership Department of your local Board of Realtors®
The Code of Ethics is strictly enforced. It contains 17 Articles and various underlying Standards of Practice. It's not just a bunch of rules that agents swear to uphold and adhere to. The Standards are much more restrictive and confining than those governing agents who simply hold a real estate license.
Protections under the Realtor® Code of Ethics.
17 things that a REALTOR® must adhere to:
1. REALTORS® protect and promote their client's interests while treating all parties honestly.
2. REALTORS® refrain from exaggeration, misrepresentation, or concealment of pertinent facts related to property transactions.
3. REALTORS® cooperate with other real estate professionals to advance their client's best interests.
4. REALTORS® make their true position or interest known, when buying or selling on their account or for their families or firms,.
5. REALTORS® do not provide professional services where they have any present or contemplated interest in property without disclosing that interest to all affected parties.
6. REALTORS® disclose any fee or financial benefit they may receive from recommending related real estate products or services.
7. REALTORS® receive compensation from only one party, except where they make full disclosure and receive informed consent from their client.
8. REALTORS® keep entrusted funds of clients and customers in a separate escrow account.
9. REALTORS® make sure that contract details are spelled out in writing and that parties receive copies.
10. REALTORS® give equal professional service to all clients and customers irrespective of race, color, religion, sex, handicap, familial status, or national origin.
11. REALTORS® are knowledgeable and competent in the fields of practice in which they engage or they get assistance from a knowledgeable professional, or disclose any lack of expertise to their client.
12. REALTORS® paint a true picture in their advertising and in other public representations.
13. REALTORS® do not engage in the unauthorized practice of law.
14. REALTORS® willingly participate in ethics investigations and enforcement actions.
15. REALTORS® make only truthful, objective comments about other real estate professionals.
16. REALTORS® respect the exclusive representation or exclusive brokerage relationship agreements that other REALTORS® have with their clients.
17. REALTORS® arbitrate financial disagreements with other REALTORS® and with their clients.
from the National Association Of Realtors
confused by Realtor designations go to Realtor Designations
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