Most of the times, people often think that Realtors and real estate agents are the same, but it is not. Although both are licensed to sell real estate, there’s a difference between the two. And that it boils down to membership in the National Association of Realtors. It may seem like a simple thing, but it is really a big deal. Being a member of the association means that Realtors and more trust worthy than just real estate agent. Realtors are also subscribed to the Code of Ethics.
The Code of Ethics is strictly enforced between realtors. It has its own set of rules that agents swears to follow. While there is no evidence nor guarantee that all REALTORS are morally or ethically better than unaffiliated real estate agents, it is an attempt by the industry to regulate and, as such, deserves recognition. Here are some things that a Realtor can give you that real estate agents cant.
#1) Pledge to put the interests of buyers and sellers ahead of their own and to treat all parties honestly.
#2) Shall refrain from exaggerating, misrepresenting or concealing material facts; and is obligated to investigate and disclose when situations reasonably warrant.
#3) Shall cooperate with other brokers / agents when it is in the best interests of the client to do so.
#4) Have a duty to disclose if they represent family members who own or are about to buy real estate, or if they themselves are a principal in a real estate transaction, that they are licensed to sell real estate.
#5) Shall not provide professional services in a transaction where the agent has a present or contemplated interest without disclosing that interest.
As of today, the National Association of REALTORS was founded in 1908 and has more than one million members worldwide.