A Realtor is a real estate professional who is a member of the Real Estate Regulatory Authority (RERA) in India. ( Real Estate Regulatory Authority that came into existence as per the Real Estate (Regulation and Development) Act, 2016, with the purpose of protecting the home purchasers and also boosting the real estate investments.) The term "Realtor" is a registered trademark that can only be used by members of the NAR and its affiliated organizations. While many people use the terms "real estate agent" and "Realtor" interchangeably, there is a distinction.
Here are some key points about Realtors:
1. Membership in NAR:
To become a Realtor, a real estate professional must join the National Association of Realtors. This membership signifies adherence to a strict Code of Ethics and Standards of Practice.
2. Code of Ethics:
Realtors are bound by a Code of Ethics that goes beyond state or federal legal requirements. This code emphasizes professionalism, integrity, and the protection of the interests of clients.
3. Access to Multiple Listing Service (MLS):
Realtors often have access to the Multiple Listing Service (MLS), a database that contains information about properties for sale. This allows them to provide clients with up-to-date and comprehensive property listings.
4. Advocacy for Homeownership:
The NAR is involved in advocacy efforts at the local, state, and national levels to promote homeownership and protect property rights.
5. Continuing Education:
Realtors are encouraged to participate in ongoing education and professional development to stay informed about industry trends, legal changes, and best practices.
It's important to note that not all real estate agents are Realtors. Real estate agents who choose not to join the National Association of Realtors are not entitled to use the term "Realtor" to describe themselves.
When working with a Realtor, clients can expect a commitment to ethical conduct, a high level of professionalism, and access to resources that can aid in the buying or selling process.