When Is a Real Estate Agent a REALTOR®?

A real estate agent is a REALTOR® when he or she becomes a member of the NATIONAL ASSOCIATION of REALTORS®, The Voice for Real Estate®, the world's largest professional association. The term REALTOR® is a registered collective membership mark that identifies a real estate professional who is a member of the NATIONAL ASSOCIATION of REALTORS® and subscribes to its strict Code of Ethics.

Founded in 1908, NAR has grown from its original nucleus of 120, to more than 1 million members today. NAR is composed of REALTORS® who are involved in residential and commercial real estate as brokers, salespeople, property managers, appraisers, counselors and others who are engaged in all aspects of the real estate industry.

Members belong to one or more of 1,700 local associations/boards and 54 state and territory associations of REALTORS® and can join one of our many institutes, societies and councils. Additionally, NAR offers members the opportunity to be active in our appraisal and international real estate specialty sections. REALTORS® are pledged to a strict Code of Ethics and Standards of Practice.

Working for America's property owners, the NATIONAL ASSOCIATION of REALTORS® provides a facility for professional development, research and exchange of information among its members.

Now in its eighth year, the NAR 2005 advertising campaign runs February through October on network and cable television and network radio. This year's commercials help potential homebuyers and sellers understand how they will know their agent is a REALTOR®, a member of the National Association of REALTORS®. They'll know by looking for the REALTOR® "R" on business cards, yard signs and when members are wearing their REALTOR® pin.

The Long Island Board of REALTORS®, Inc. (also known as LIBOR) is a 17,500 member not-for-profit trade association that serves real estate professionals throughout Nassau, Suffolk and Queens counties. LIBOR is the largest local REALTOR® Board in the United States.

REALTOR® members subscribe to a strict Code of Ethics and Standards of Practice.  Not every real estate licensee can be called a REALTOR®. LIBOR members may elect to participate in the MLS, and are members of the National Association of REALTORS®, and the New York State Association of REALTORS®.

The Multiple Listing Service of Long Island, Inc. (MLSLI), is a computerized network of more than 1,750 cooperating real estate offices, located across Nassau, Suffolk and Queens counties. Within this service, thousands of professional REALTORS®, both owner brokers and their sales associates, share listing and sale information, and work together to serve the buying and selling public. MLSLI is a wholly owned subsidiary of the Long Island Board of REALTORS®.

What is a REALTOR® and why should I use one?

Only real estate professionals who are members of the NATIONAL ASSOCIATION OF REALTORS® (NAR) can call themselves REALTORS®. All REALTORS® adhere to NAR’s strict Code of Ethics, which is based on professionalism and protection of the public. That’s why all real estate licensees are NOT the same.

Dedicated to serving America’s property owners at both local and national levels, the NATIONAL ASSOCIATION OF REALTORS®, The Voice for Real Estate®, is the largest professional association at over 800,000 members strong. So, whether you’re buying or selling a home—it pays to work with a Realtor®. Look for the REALTOR® logo when choosing your real estate agent.

When Buying A Home - Why Use A REALTOR®?

REALTORS® provide critical assistance with the home buying process.

A REALTOR®:

- Has many resources to assist you in your home search.
- Can provide objective information about each property.
- Can help you negotiate.
- Can help you determine your buying power.
- Provides guidance during the evaluation of the property.
- Can guide you through the closing process and make sure everything flows together smoothly.

The 2002 NAR Survey on Home Buyers reports:

- Two out of three home buyers reported that the most important service provided by a real estate agent is helping buyers find the right home.
- Nearly four out of five home buyers used a real estate agent as an important information source and to assist in the transaction.
- Nearly seven out of ten home buyers used a real estate agent and/or broker to complete their transaction.

When Selling A Home - Why Use A REALTOR®?

Realtors provide sellers invaluable services, and there are many reasons to work with one. A REALTOR®:

- Can give you up-to-date information about the market, prices, financing, terms and conditions of competing properties.
- Will market your property to other real estate agents and to the public.
- Will know when, where and how to best market your property.
- Can help you objectively evaluate every buyer’s proposal without compromising your marketing position.
- Can help close the sale of your home.

 The 2002 NAR Survey on Home Sellers reports:

-  The median sales price of an agent-assisted home was 27% more than one sold FSBO (For Sale By Owner).
-  Nearly four out of five homeowners sold their previous home with the assistance of a real estate agent.
-  The top three home seller expectations of real estate agents are: 1) find a buyer for my home (29%); 2) sell my home within a specific timeframe (26%); 3) properly price my home (20%).
- Forty-seven percent of respondents would use the same listing agent for their next home sale.

REALTOR Designations - The Mark of Expertise and Service

The NATIONAL ASSOCIATION OF REALTORS® has a variety of affiliates that provide designation acknowledging experience and expertise in various real estate sectors.

NAR also offers designations and certification programs to its members, including the ABR® and GRI designations, and the e-PRO® certification program.

ABR®- Consumer demand for buyer representation has changed the relationship between buyers and real estate professionals. REBAC (Real Estate BUYER’S AGENT Council) awards the ABR® (Accredited Buyer Representative) designation to REALTORS® who meet education and experience requirements to better prepare them to represent buyers.

GRI- A REALTOR® with the Graduate REALTOR® Institute (GRI) designation is trained in many areas, including legal and regulatory issues, professional standards, the sales process and technology. A minimum of 90 hours of training is required to achieve the GRI designation.

E-Pro®-e-Pro® certification indicates that a REALTOR® has been trained on Internet business principles and the technologies required throughout the real estate transaction.

To access information on the family of REALTOR® designations and certifications, visit: www.REALTOR.org/education.