Realtor

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.

BREAKING DOWN '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. Realtor Property Resource (RPR)

    A National Association of Realtors member benefit providing realtors ...
  2. National Association of Realtors ...

    A national organization of real estate brokers. The National ...
  3. Real Estate Agent

    A person with a state/provincial license to represent a buyer ...
  4. Real Estate

    Land plus anything on it, including buildings and natural resources.
  5. Private Equity Real Estate

    A Definition of "Private Equity Real Estate" and how it applies ...
  6. Commercial Real Estate

    Property that is used solely for business purposes. Examples ...
Related Articles
  1. Home & Auto

    Before you Buy That Home: Find a Great Realtor

    Most people think of a good realtor as a successful salesperson, but we should not assume than that's what makes a great or even a good realtor.
  2. Professionals

    Why Realtors Have Fiduciary Responsibilities

    Find out why real estate agents are considered to have a legal fiduciary responsibility to uphold the best interests of their clients.
  3. Home & Auto

    Tip No.4: Negotiate With the Realtor

    In a slow market, agents may agree to cut their commissions to get a deal done.
  4. Home & Auto

    6 Questions For Your Realtor

    A good real estate agent can guide you through every step of buying or selling a home. These questions can help you find the right one.
  5. Executive Compensation

    Commercial Real Estate Agent: Job Description & Average Salary

    Learn more about the qualifications, daily and regular responsibilities, and average yearly salaries of commercial real estate agents.
  6. Credit & Loans

    Buying A Home: Find An Agent

    By Amy FontinelleIf you want to buy a home, you'll need to get an agent. The most basic reason to get an agent is that you won't be able to see homes without one. (To learn more, readDo You Need ...
  7. Home & Auto

    6 Questions For Your Realtor

    Before you start working with a real estate agent – especially if you're the one paying the agent's commission – make sure you've made the right choice.
  8. Professionals

    Commercial Real Estate Agent: Career Path & Qualifications

    Learn about the qualifications, skills and licensing requirements to be a commercial real estate agent and how to get started in this career path.
  9. Professionals

    Real Estate Careers And Their Designations

    The real estate industry offers a wide variety of career opportunities and dozens of designations to increase your skills.
  10. Personal Finance

    Would You Make A Good Real Estate Broker?

    How to tell if you'd be good in this field. It is a common second career for many people, but isn't a good match for everyone.
RELATED FAQS
  1. What are the differences among a real estate agent, a broker and a realtor?

    Learn how agents, realtors and brokers are often considered the same, but in reality, these real estate positions have different ... Read Answer >>
  2. Where do you get real estate leads?

    Gather information and keep in touch through networking without bombarding clients or you may risk losing a client in a challenging ... Read Answer >>
  3. How much money do real estate agents make?

    Learn about the salaries of top earners in the real estate industry and how factors, such as location, can raise or lower ... Read Answer >>
  4. What economic indicators should an investor in the real estate sector consider?

    Find out about economic indicators and which indicators investors in the real estate sector should take into account before ... Read Answer >>
  5. How do real estate agents market themselves?

    Find an agent by checking popular real estate circulars featuring desirable neighborhoods and call the agent to ask questions ... Read Answer >>
  6. How do real estate agents get listings?

    Learn about how real estate agents get listings in top real estate markets, as well as in smaller areas, through utilizing ... Read Answer >>
Hot Definitions
  1. Yield Curve

    A line that plots the interest rates, at a set point in time, of bonds having equal credit quality, but differing maturity ...
  2. Stop-Limit Order

    An order placed with a broker that combines the features of stop order with those of a limit order. A stop-limit order will ...
  3. Keynesian Economics

    An economic theory of total spending in the economy and its effects on output and inflation. Keynesian economics was developed ...
  4. Society for Worldwide Interbank Financial Telecommunications ...

    A member-owned cooperative that provides safe and secure financial transactions for its members. Established in 1973, the ...
  5. Generally Accepted Accounting Principles - GAAP

    The common set of accounting principles, standards and procedures that companies use to compile their financial statements. ...
  6. DuPont Analysis

    A method of performance measurement that was started by the DuPont Corporation in the 1920s. With this method, assets are ...
Trading Center