When Is a Real Estate Agent a REALTOR®?

A real estate agent is a REALTOR® when he or she becomes a member of the NATIONAL ASSOCIATION of  REALTORS®, the world's largest professional association. The term REALTOR® is 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.

Founded in 1908, NAR has grown from its original nucleus of 120, to over 1,200,000 members today. NAR is composed of REALTORS® who are involved in residential and commercial real estate as brokers, salespeople, property managers, appraisers, counselors and others who are engaged in all aspects of the real estate industry.

Members belong to one or more of 1,700 local associations/boards, such as the Cleveland Area Board of REALTORS®, and 54 state and territory associations of REALTORS®. REALTORS® can join one of many institutes, societies and councils. Additionally, NAR offers members the opportunity to be active in appraisal and international real estate specialty sections. REALTORS® are pledged to a strict Code of Ethics and Standards of Practice.


Some Ideas About Choosing Your REALTOR®

If you're ready to buy or sell real estate, there are some things you can do to ensure you'll find the right REALTOR® to work with you.

• Interview several REALTORS® at various real estate companies.
• Ask your friends and coworkers about REALTORS® they have worked with.
• Ask REALTORS® you interview for references.
• Dedicate the time and thought to choosing your REALTOR® as you might when choosing a business partner. In many respects that's what you're doing.

What do Recent Home Buyers and Sellers Say About REALTORS®?

The 2002 NAR Profile of Home Buyers and Sellers provides research results on the experiences home buyers and sellers had when purchasing or selling their home. The majority of the respondents used a REALTOR®. Here'™s what they had to say:

Home Sellers

• The median sales price of an agent-assisted home was 27% more than one sold FSBO (For Sale By Owner).
• Nearly four out of five homeowners sold their previous home with the assistance of a real estate agent.
• The top three home seller expectations of real estate agents are: 1) find a buyer for my home (29%); 2) sell my home within a specific timeframe (26%); 3) properly price my home (20%).
• Forty-seven percent of respondents would use the same listing agent for their next home sale.

Home Buyers

• Two out of three home buyers reported that the most important service provided by a real estate agent is helping buyers find the right home.
• Nearly four out of five home buyers used a real estate agent as an important information source and to assist in the transaction.
• Nearly seven out of ten home buyers used a real estate agent and/or broker to complete their transaction.