Realtor

AAA

DEFINITION of 'Realtor'

A real estate professional who is a member of the National Association of Realtors, a professional association. Realtors include agents that work as residential and commercial real estate brokers, salespeople, property managers, appraisers, counselors and other real estate professionals. More than 1 million real estate agents are realtors, and the term is a registered trademark. Realtors must belong to both a local association or board and a state association.

INVESTOPEDIA EXPLAINS 'Realtor'

Realtors are expected to be experts in their field and must follow the NAR's code of ethics, which requires agents to uphold specific duties to clients and customers, to the public and to other realtors. Among its many requirements, the code of ethics says that realtors "shall avoid exaggeration, misrepresentation, or concealment of pertinent facts relating to the property or the transaction;" "shall be honest and truthful in their real estate communications and shall present a true picture in their advertising, marketing and other representations;" and shall "pledge themselves to protect and promote the interests of their client" while treating all parties to the transaction honestly.

RELATED TERMS
  1. Real Estate

    Land plus anything on it, including buildings and natural resources.
  2. Mortgage

    A debt instrument, secured by the collateral of specified real ...
  3. Curb Appeal

    The general attractiveness of a house or other piece of property ...
  4. Real Estate Agent

    A person with a state/provincial license to represent a buyer ...
  5. Broker

    1. An individual or firm that charges a fee or commission for ...
  6. Open Listing

    A property listing that uses multiple real estate agents in order ...
RELATED FAQS
  1. Where do you get real estate leads?

    Real estate leads come from real world networking in addition to online sources. Tried and tested avenues of following up ... Read Full Answer >>
  2. What are the differences among a real estate agent, a broker and a realtor?

    Many people unfamiliar with the real estate industry use the terms real estate agent, broker and realtor interchangeably. ... Read Full Answer >>
Related Articles
  1. Home & Auto

    7 Things To Consider Before Selling Your Own Home

    A "for sale" sign won't sell your house. Find out what it takes and whether you can do it all yourself.
  2. Retirement

    Downsize Your Home To Downsize Expenses

    Learn how to cut your mortgage, tax, gas and utilities bills.
  3. Home & Auto

    Top Tips For First-Time Home Buyers

    Follow this step-by-step guide to make your homeownership dreams a reality.
  4. Home & Auto

    6 Tips For Selling Your Home Fast

    Find out what you can do to stand out from the competition and make your home an easy sell.
  5. Home & Auto

    6 Steps To Becoming A Real Estate Agent

    Take these steps seriously, and you'll have your first "sold" sign up with your savings account still intact.
  6. Home & Auto

    10 Habits Of Highly Effective Real Estate Investors

    The best real estate investors all share these traits and practices.
  7. Home & Auto

    Finding A Good Real Estate Agent

    Don't go it alone in the real estate market. We'll show you how to find the help you need.
  8. Home & Auto

    Do You Need A Real Estate Agent?

    There's no guarantee that realtors will act in your best interest, but it may be worth hiring one anyway.
  9. Home & Auto

    5 Things Every Real Estate Pro Knows

    Find out how to stop chasing the market and start leading it.
  10. Home & Auto

    Option ARMs: American Dream Or Mortgage Nightmare?

    Option adjustable rate mortgages could make or break your home-buying experience.

You May Also Like

Hot Definitions
  1. Fixed Cost

    A cost that does not change with an increase or decrease in the amount of goods or services produced. Fixed costs are expenses ...
  2. Subsidy

    A benefit given by the government to groups or individuals usually in the form of a cash payment or tax reduction. The subsidy ...
  3. Sunk Cost

    A cost that has already been incurred and thus cannot be recovered. A sunk cost differs from other, future costs that a business ...
  4. Technical Skills

    1. The knowledge and abilities needed to accomplish mathematical, engineering, scientific or computer-related duties, as ...
  5. Prepaid Expense

    A type of asset that arises on a balance sheet as a result of business making payments for goods and services to be received ...
  6. Gordon Growth Model

    A model for determining the intrinsic value of a stock, based on a future series of dividends that grow at a constant rate. ...
Trading Center