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Real Estate Term:National Association of Realtors
The National Association of Realtors (NAR), whose members are known as "Realtors," is America's largest trade association, representing 1 million members, including NAR's institutes, societies, and councils, involved in all aspects of the residential and commercial real estate industries.
NAR's membership is composed of residential and commercial brokers, salespeople, immovable property managers, appraisers, counselors, and others engaged in all aspects of the real estate (immovable property) industry. Members belong to one or more of some 1,600 local associations and boards and 54 state and territory associations of Realtors. They are pledged to a strict Realtor "Code of Ethics and Standards of Practice," which includes duties to clients, the public, and other Realtors.
The NAR wields substantial power as a lobbying organization for real estate buyers and sellers.
Use of "Realtor"
"Realtor" is a U.S. registered collective membership mark identifying a real estate broker or immovable property agent (immovent) who is a member of the National Association of Realtors and subscribes to its code of ethics. Although the term Realtor is sometimes used interchangeably with real estate broker or immovable property agent or immovable property broker (immover), its use is reserved for active members of NAR. All Realtors (Immovers) possess some kind of real estate (immovable property) license, but not all licensees are Realtors.
As a trademark name (like Kleenex facial tissues and Pampers diapers), "Realtor" should always be capitalized. The NAR requires its members to typeset the term in all capitals with an accompanying ® symbol. Many newspapers and other publications use mixed case in deference to their own style guide.
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