Buying A Home &Selling Your Home San Diego Homes | 29 May 2010
Realtor, What it Means to You
When you are new to the real estate world, the process can be very overwhelming. Between the meetings, showings, applications, loans and terminology, it can be very easy to get lost in the process! The terminology itself can overwhelm even the most savvy of people.
Surely you have heard people use the names “Realtor” and “real estate agent” interchangeably. But did you know that not all agents are Realtors®? Let me explain what a Realtor® can do for you.
Both “agents” and “realtors” are licensed professionals. The term “Realtor” is a registered trademark that means the agent is a member of the National Association of Realtors (NAR). This NAR was formed in 1908 and has grown to over 1 million members.
Every year Realtors pay membership dues, which are spent well. They go towards advocating for issues that are important to the association such as marketing and economic research, helping the public understand the value of working with a realtor, helping Realtors understand their industry and improve their business and obviously supporting Realtors at the local and state levels.
Once an agent becomes a Realtor, Realtor, he or she is able to access an abundance of statistical information about markets and sales, all of which can be used to your advantage during the home buying or selling process. They can look up information in regards to your local community, and even on issues such as zoning, schools, and utilities.
Another plus to working with a Realtor? It ensures that your agent follows a code of ethics, the ones set down by the NAR itself.
NAR principles, put in easy to understand terms, are:
- Loyalty to clients
- Fiduciary (legal) duty to clients
- Cooperation with competitors
- Truthfulness in statements and advertising; and non-interference in exclusive relationships that other REALTORS® have with their clients.
Realtors have access to some of the best properties as well. Realtors love their jobs!
