What Does Realtor® Mean

The general public often equates the word Realtor® as synonymous with anyone who sells real estate. While it is true that most real estate practitioners or licensees in our area are also Realtors®, there are many who hold a real estate license that are not part of the Realtor® group. The term Realtor® designates someone who pays dues and belongs to the trade organization called the National Association of Realtors®. Each member of this national organization subscribes to the Code of Ethics and Standards of Practice that is the hallmark of that membership. In other words, Realtor® is a trademarked name, not just a word used to describe anyone who has a real estate license.

Despite the huge efforts by the Realtor® organization to educate the public about their exclusive label, the average Joe-on-the-street may not understand this fact. These are also the kind of folks who ignorantly mispronounce the word by adding a syllable. They say real-a-tor instead of real-tor. There really is a difference between a Realtor® and someone who just maintains a real estate license! A licensee who is willing to pay extra to hold that Realtor® membership and who is willing to “be” something extra as they strive to meet the lofty standards expected (and to be held accountable for such), is much more likely to be someone you can trust!

The sad part about this topic is, that many Realtors® don’t understand what they belong to and couldn’t explain the difference if you asked them. Try asking sometime! If they can’t explain the difference to you, then you probably should find one who understands, appreciates the difference and adheres to the lofty standards that should epitomize a Realtor®.

The following are just a few examples of standards written into the Realtor® Code of Ethics:

1.  “When serving a buyer or seller, tenant or other party in a non-agency capacity, Realtors® remain obligated to treat all parties honestly.”
2.  “The obligation of Realtors® to preserve confidential information continues after termination of agency relationships.”  
3.  “The services which Realtors® provide to their clients and customers shall conform to the standards of practice and competence which are reasonably expected in the specific disciplines in which they engage.”

What other trade do you know of who self polices their members and even allows the public to participate in that censor process? Look for that little blue R that symbolizes the ethical difference!

Jim Palmer, Jr.
509-953-1666
www.JimPalmerJr.com

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