Real Estate Selling

Many people mistakenly think that the words “realtor” and “real estate agent” mean the same thing. However, these two words are actually not synonymous.
A realtor is a real estate professional who is a member of the National Association of Realtors, also called NAR, which was founded in 1908 in Chicago, Illinois. Thus, if a real estate professional is not a member of the association, he/she cannot claim that he/she is a realtor.

At present, NAR has over a million members and is the largest trade association in North America. It has approximately 1,700 local boards and 54 state and territory associations of realtors. The members are from all aspects of the real estate industry, and either from a residential real estate or commercial real estate.

For realtors to retain their membership in the association, they are required to adhere to the Realtor code and its strict ethical requirements. They also pay dues to their state and local realtor organizations. NAR members are also involved on taking continuing education courses approved by state licensing boards. These courses typically focus on topics such as ethical work habits.

Since NAR puts great emphasis on its code of ethics, local sections are required to uphold it with a Professional Standards Committee. This committee is responsible in evaluating complaints from the public or other association members for alleged violations of the code of ethics. If the panel finds the member in violation, discipline follows, which may include be one or more of the following: a letter of warning or reprimand, educational courses, suspension or expulsion of membership, fines up to $5,000 and probation.

Also members of NAR, or the realtors have many resources at their disposal. These resources allow them to become experts in their fields, and accomplish the goals of their clients. Realtors also can help buyers obtain favorable financing by directing them to the right lenders. This help buyers to solve or lessen financial problems.

In buying houses or properties, Realtors can help buyers locate properties that are not being actively advertised and so are harder to find. For the sellers on the other hand, the realtors can market the property to help the selling process take place quickly and cooperatively. There are many factors that need to be negotiated in the sale of real estate as well, and realtors can help with that. They can also guide their clients smoothly through the closing sale process.

Chris is an editor for Inside Real Estate, a network of Realtor Blogs authored by Real Estate Experts across the country.

[tags]real estate, real estate agents, realtors, real estate agent, realtor[/tags]

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