BROWSE

Realtor

Definition

A real estate broker or real estate salesperson is a person who acts as an intermediary between sellers & buyers of real estate/real property. Their mission is to complete a transaction between the buyer and seller.

What is 'Realtor'

A real estate professional who is a member of the National Association of Realtors, a professional association. Realtors include agents that work as residential and commercial real estate brokers, salespeople, property managers, appraisers, counselors and other real estate professionals. More than 1 million real estate agents are realtors, and the term is a registered trademark. Realtors must belong to both a local association or board and a state association.

Explaining 'Realtor'

Realtors are expected to be experts in their field and must follow the NAR's code of ethics, which requires agents to uphold specific duties to clients and customers, to the public and to other realtors. Among its many requirements, the code of ethics says that realtors "shall avoid exaggeration, misrepresentation, or concealment of pertinent facts relating to the property or the transaction;" "shall be honest and truthful in their real estate communications and shall present a true picture in their advertising, marketing and other representations;" and shall "pledge themselves to protect and promote the interests of their client" while treating all parties to the transaction honestly.


Further Reading


Technology and Realtor® income
link.springer.com [PDF]
The ever-expanding use of the Internet and various other information technologies may directly impact the income levels of the real estate brokerage community. With a database of more than 6,000 usable observations from the 1999 National Association of Realtors® …

Modeling home prices using realtor dataModeling home prices using realtor data
www.tandfonline.com [PDF]
The ever-expanding use of the Internet and various other information technologies may directly impact the income levels of the real estate brokerage community. With a database of more than 6,000 usable observations from the 1999 National Association of Realtors® …

Redefining realtor relationships and responsibilities: The failure of state regulatory responsesRedefining realtor relationships and responsibilities: The failure of state regulatory responses
heinonline.org [PDF]
The ever-expanding use of the Internet and various other information technologies may directly impact the income levels of the real estate brokerage community. With a database of more than 6,000 usable observations from the 1999 National Association of Realtors® …

Realtor as Superbroker: Great Expectations UnrealizedRealtor as Superbroker: Great Expectations Unrealized
heinonline.org [PDF]
The ever-expanding use of the Internet and various other information technologies may directly impact the income levels of the real estate brokerage community. With a database of more than 6,000 usable observations from the 1999 National Association of Realtors® …

Team characteristics, peer competition threats and individual performance within a working team: An analysis of realtor agentsTeam characteristics, peer competition threats and individual performance within a working team: An analysis of realtor agents
www.ingentaconnect.com [PDF]
The ever-expanding use of the Internet and various other information technologies may directly impact the income levels of the real estate brokerage community. With a database of more than 6,000 usable observations from the 1999 National Association of Realtors® …

Walking Away Scot-Free: Trust, Expert Advice, and Realtor ResponsibilityWalking Away Scot-Free: Trust, Expert Advice, and Realtor Responsibility
papers.ssrn.com [PDF]
The ever-expanding use of the Internet and various other information technologies may directly impact the income levels of the real estate brokerage community. With a database of more than 6,000 usable observations from the 1999 National Association of Realtors® …



Q&A About Realtor


What are some unique characteristics of the housing industry?

The housing industry is development, construction, and sale of homes.

What are some other differences between a typical economist and a real estate economist?

A typical economist studies general economic patterns while a real estate economist studies residential markets.

Are all members required to be experts in their field?

Yes, they must follow the NAR's code of ethics which requires agents to uphold specific duties to clients and customers, to the public and to other realtors. Among its many requirements, it says that agents shall avoid exaggeration or misrepresentation; shall be honest and truthful in their communications; shall present a true picture in their advertising; shall pledge themselves to protect and promote interests of client while treating all parties honestly.

How many members does the NAR have?

More than 1 million.

Who are some types of realtors?

Agents that work as residential and commercial real estate brokers, salespeople, property managers, appraisers, counselors and other real estate professionals.

What is a realtor?

A real estate professional who is a member of the National Association of Realtors, a professional association.

What is the term "realtor" a registered trademark for?

The term "realtor" is a registered trademark for any individual who belongs to the National Association of Realtors.

How does a real estate economist differ from an ordinary economist?

A real estate economist must accommodate unique characteristics of the housing industry.

What is the main focus of real estate economics?

Real estate economics focuses on residential real estate markets.