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Realtor
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Realtor

A member of the National Association of Realtors, the largest industry trade association in the US. Realtors are residential and commercial agents and real estate brokers.

More On Realtor

Definition

A REALTOR® is a member of the National Association of Realtors, the largest industry trade association in the US. Realtors are residential and commercial agents and real estate brokers. Surprisingly, a REALTOR® does not have to be real estate agent. REALTORS® can also be mortgage brokers, attorneys, insurance agents, title agents, etc. Members are pledged to a strict Code of Ethics and Standards of Practice. While many use the terms real estate agent and Realtor interchangeably, only agents who belong to the NAR and adhere to its strict Code of Ethics and Standards of Practice can correctly be called Realtors.

More about a REALTOR®

Most people, when buying or selling a home, seek out a professional for help. A REALTOR® or real estate agent can fulfill that role, and, although they are similar, they are not the same.

A real estate agent is simply a person who is licensed to buy or sell homes. A REALTOR®, on the other hand, is a member of  the National Association of REALTORS® (NAR), which is the nation’s largest professional organization.

A membership in NAR indicates that the REALTOR® is nationally accredited. It also means that s/he has agreed, and is thereby obligated, to abide by NAR’s strict Code of Ethics. The fact that the REALTOR® has committed to a certain expectation of professionalism can be reassuring to a potential home buyer or seller.

Surprisingly, a REALTOR® does not have to be real estate agent. REALTORS® can be mortgage brokers, attorneys, insurance agents, title agents, etc. Because of this, it is important that you make sure the REALTOR® you choose is licensed to buy and sell real estate, too. It is likely that whomever you find will be, but it is a good idea to confirm.

REALTORS® typically work on a commission basis. It usually works like this: the seller pays the listing agent a 6 percent commission, which is then split between the buying and selling agents. Often, the buying and selling agents have to pay a portion of this commission to the firm that employs them.

A great tool for finding a REALTOR® is the Find a REALTOR® program through our partners at RealEstate.com. Through this online program, you choose a real estate company. Then, you consult with a Relocation Director from that company. This person will personally match you with a local REALTOR®. After closing with that person, you receive a gift  card. The program not only helps you find a qualified REALTOR®, but also provides you with a financial incentive.

Disclosures

REALTOR® -- A registered collective membership mark that identifies a real estate professional who is a member of the National Association of REALTORS® and subscribes to its strict Code of Ethics.

Not  available in all areas. Amount of incentive is based on purchase price of home and a 6 percent commission evenly split between listing and buyer’s broker. Changes in the commission or commission split will adjust incentive proportionately. Click here for full terms and conditions.