Submitted by the Prescott Area Association of REALTORS®
When buying or selling a home, or even just browsing homes on the internet, you often come across the terms “real estate agent” and “REALTOR®.” While these titles may be used interchangeably, they are not the same.
The very basic difference is that a real estate agent is someone who only holds a state-issued real estate license, while a REALTOR® is someone who holds a real estate license in addition to being a member of the National Association of REALTORS® (NAR).
But being a REALTOR® means so much more than being a member of NAR; there’s a higher standard to uphold.
NAR holds REALTOR® members to a strict code of ethics that requires updated training every three years. The code of ethics was created in 1913 and designed to set high professional standards, protect the public and ensure REALTOR® members serve clients’ best interests through fairness, honesty and cooperation.
It is treated as a living document that is regularly updated to continuously hold REALTORS® to the highest professional standards.
The code of ethics training is a 2.5-hour course that REALTORS® must take at least every three years on top of their state required continuing education courses to maintain their real estate license. But this code is not just a certificate of completion; there are enforced consequences if someone breaks the code of ethics or does not complete the training. These consequences can range from fines, membership suspension or even termination.
On top of the required training and courses that it takes to become a REALTOR®, NAR also offers specialized designations to set members apart from other agents. These designations include ABR (accredited buyer representative), SRES (senior real estate specialist), CRS (certified residential specialist) and C2EX (commitment to excellence). To obtain and maintain these designations, REALTORS® must go through hours of specified training, testing and real-world applications.
Next time you see these initials in an email signature or on a business card, know that it’s not just alphabet soup; it’s proof of someone’s hard work and dedication to the real estate profession.
When you choose to work with a REALTOR®, you are putting the most important purchase of your life into the hands of a trusted professional who has a fiduciary duty to every one of their clients and is dedicated to providing the highest quality of service.
