Realtor is a U.S. registered trademark that identifies a real estate professional who is a member of the National Association of Realtors (NAR) and subscribes to its Code of Ethics. In use, the NAR insists on the spelling REALTOR®, with registered trademark symbol attached. The Bass Red Triangle, was the first trademark registered in Britain in 1876. ... Real estate is a legal term that encompasses land along with anything permanently affixed to the land, such as buildings. ... The National Association of Realtors (NAR) is Americas largest trade association, representing 1 million members, including NARs institutes, societies and councils, involved in all aspects of the residential and commercial real estate industries. ...
Although the term "Realtor" is sometimes used interchangeably with "real estate agent," its use is reserved for active members of NAR. Some individuals who are licensed to act as real estate agents are not NAR members. In the United States and parts of the Commonwealth (including Canada and Australia) as well as in many other countries, a real estate agent is a person who advises and represents others in transactions involving real estate. ...
Realtors® shall not, however, be obligated to discover latent defects in the property, to advise on matters outside the scope of their real estate license, or to disclose facts which are confidential under the scope of agency or non-agency relationships as defined by state law.
Realtors® shall not undertake to provide specialized professional services concerning a type of property or service that is outside their field of competence unless they engage the assistance of one who is competent on such types of property or service, or unless the facts are fully disclosed to the client.
Realtors® may represent their services as "free" or without cost even if they expect to receive compensation from a source other than their client provided that the potential for the Realtor® to obtain a benefit from a third party is clearly disclosed at the same time.
As a member of their local real estate Board, REALTORS® have their finger on the pulse of the housing market and are in daily contact with buyers potentially interested in your home.
And REALTORS® are bound by a strict Code of Ethics and Standards of Business Practice that ensure fairness to all parties in a transaction.
A REALTOR®'s pledge is to be honest in disclosing property information and forthright in providing the facts needed to help you make one of the most important decisions of your life.
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