The National Association of REALTORS® (NAR) is the largest trade association in the United States, serving real estate professionals who are licensed to use the REALTORS® trademark. Established in 1908, NAR is committed to advocating for its members’ interests, promoting professionalism, and supporting the dynamic real estate market across the country.
History and Evolution
Early Beginnings
NAR was founded as the National Association of Real Estate Exchanges in 1908, aiming to standardize and enhance the real estate profession. The organization adopted its current name in 1974, reflecting its broader scope and stature in the industry.
Growth and Influence
Since its inception, NAR has grown to represent more than 1.4 million members, including residential and commercial REALTORS®, brokers, salespeople, property managers, and more. Members are expected to adhere to a strict Code of Ethics, ensuring integrity and professionalism.
Membership and Structure
Membership Types
There are several categories of NAR membership, including:
- REALTORS®: Licensed real estate professionals who are NAR members and subscribe to its Code of Ethics.
- REALTOR-ASSOCIATES®: Sales associates working under a REALTOR® member.
- Institute Affiliate Members: Professionals who are members of institutes, societies, or councils affiliated with NAR.
Organizational Hierarchy
NAR has a structured hierarchy with local, state, and national levels. Local real estate boards or associations are the foundation, feeding into state associations and culminate at the national level. This structure ensures effective representation and advocacy at all levels of government.
Benefits and Services
Advocacy and Lobbying
NAR plays a significant role in lobbying for real estate-friendly policies and regulations. It has a dedicated Political Advocacy division that works on issues like mortgage interest deductions, property tax fairness, and housing affordability.
Professional Development
NAR offers a variety of educational programs, certifications, and designations, such as the Certified Residential Specialist (CRS) and Accredited Buyer’s Representative (ABR). These programs help members deepen their expertise and improve their professional standing.
Resources and Tools
NAR provides a wealth of resources, including market data, research reports, legal guidance, and technology tools like the REALTORS® Property Resource (RPR).
Community and Networking
Membership in NAR offers opportunities for networking through events like the REALTORS® Conference & Expo, and access to the benefits of community support and peer interaction.
Code of Ethics
The NAR’s Code of Ethics is a cornerstone of its commitment to professionalism and consumer protection. Adopted in 1913, the Code outlines key principles and standards that members must adhere to, such as:
- Duty to Clients and Customers
- Duty to the Public
- Duty to Other REALTORS®
Impact on the Real Estate Market
NAR’s advocacy and professional standards have a significant impact on the real estate market. By promoting ethical practices, NAR helps enhance consumer trust and market stability.
Comparisons and Related Terms
REALTORS® vs. Real Estate Agents
Not all real estate agents are REALTORS®. The term “REALTORS®” specifically refers to NAR members who have agreed to uphold the association’s stringent ethical standards.
Multiple Listing Service (MLS)
MLS is a service provided by participating NAR members that allows them to share listings and cooperate on transactions, thereby increasing market efficiency.
FAQs
Q: What is the difference between a REALTOR® and a real estate agent?
A: A REALTOR® is a licensed real estate professional who is a member of NAR and adheres to its Code of Ethics. Not all real estate agents are REALTORS®.
Q: How can I become a REALTOR®?
A: To become a REALTOR®, you must first obtain a real estate license, join a local real estate board affiliated with NAR, and agree to adhere to NAR’s Code of Ethics.
Q: What are the benefits of NAR membership?
A: Benefits include advocacy, professional development, access to resources and tools, networking opportunities, and adherence to a recognized Code of Ethics.
References
- National Association of REALTORS® - Official Website
- NAR Code of Ethics - Key Principles
- Real Estate Designations and Certifications - Professional Development Programs
Summary
The National Association of REALTORS® (NAR) stands as the premier representative body for real estate professionals in the United States. Through its unwavering commitment to ethical standards, extensive network, and robust advocacy efforts, NAR not only benefits its members but also significantly impacts the real estate industry’s integrity and functionality.
