Who are Realtors?
Realtors are licensed real estate salespersons who belong to a professional body.
Every agent is not a REALTOR, but most are.
Realtors are expected to be experts in their field and must follow the 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.”
The code also states that realtors “shall be honest and truthful in their real estate communications and shall present a true picture in their advertising, marketing and other representations.”
Furthermore, realtors must “pledge themselves to protect and promote the interests of their client” while treating all parties to the transaction honestly.
When you decide to purchase or sell real estate, you may elicit the help of a Realtor.
For the buyer, this typically costs nothing, while there is normally a fee for the seller.
Before working with a Realtor, it is a good idea to understand her actual duties.
Many consumers falsely assume that the terms Realtor and real estate agent are interchangeable.
A real estate agent is not necessarily a Realtor.
A Realtor is a member of the National body, a professional organization for those within the real estate industry.
A licensed real estate agent who becomes a member of a National body then holds the title Realtor.
It is a trademarked term, and not generically applied to all real estate agents.
The duties of a Realtor representing a buyer are to help the client find the best property, at the best price.
which meets the client’s needs, and to navigate the transaction through escrow while protecting the client’s interests.
This involves researching suitable properties, taking clients on viewing, making offers and negotiating the terms of the purchase.
They are also the key person in making sure escrow is completed properly.
The duties of a Realtor representing a seller are similar.
yet in this instance, her duties include marketing the client’s property in an attempt to find a qualified buyer and obtain the best price for the seller.
In both instances, the Realtor typically handles negotiations between the buyer and seller, acting as an intermediary for her client.