Do you know whether each real estate licensee in your transaction is or is not a REALTOR®?

While all REALTORS® have a real estate license, not all real estate licensees are REALTORS®.

Generally, under state law, one must obtain a real estate license in order to represent another in a real estate transaction. One can obtain a real estate license by taking required classes and passing a written test. However, in order to be a REALTOR®, one must not only have a real estate license but must also subscribe to the Code of Ethics published by the National Association of REALTORS® (NAR).
 
The word “REALTOR®” is a trademark of the NAR and its use identifies a person who has voluntarily joined the NAR and subscribes to its Code of Ethics. REALTORS® are not just members of a national trade association. REALTORS® also are typically members of a state and local association of REALTORS®, and agree to abide by the bylaws, rules and regulations of those associations.
 
The distinction between REALTORS® and those who only have a real estate license is so significant that in some states a person can have his or her real estate license revoked if he or she uses the term REALTOR® without actually being a member of the National Association of REALTORS®.

• REALTORS® pledge themselves to the Code of Ethics and related Standards of Practice covering duties to Clients and Customers, duties to the Public and duties to fellow REALTORS®.
   
• REALTORS®, as a group, support housing affordability, contribute to and distribute disaster relief aid, provide scholarships, and support laws promoting homeownership and private property rights.
   
• REALTORS® pledge themselves to fairness and integrity in pursuing business relations.