The National Association of REALTORS (NAR) is a prominent professional organization for real estate professionals in the United States. Known as REALTORS, its members are dedicated to promoting high standards of professionalism and ethical conduct in real estate transactions.
History and Structure
Formation and Evolution
Founded in 1908, the NAR has grown to encompass over 1 million members, including agents, brokers, appraisers, and other real estate professionals. Its membership is organized into 50 state associations, reflecting the federal structure of the organization. Several affiliate organizations focus on specialized areas such as commercial real estate, property management, and international real estate.
Membership and Affiliates
To become a REALTOR, an individual must be a licensed real estate professional, pay membership dues, and agree to adhere to the NAR’s strict Code of Ethics. The organization also offers various resources and opportunities for continuing education, advocacy, and community involvement.
Key Affiliates
- Commercial Real Estate: The Commercial and Investment Real Estate Institute (CIREI)
- Property Management: The Institute of Real Estate Management (IREM)
- International Real Estate: The International Real Estate Federation (FIABCI)
The NAR Code of Ethics
Purpose and Core Values
The NAR Code of Ethics is a cornerstone of the organization’s mission, ensuring that REALTORS uphold qualities of integrity, competence, and fairness in all their professional activities. Specifically, the Code emphasizes:
- Honesty and integrity in dealings with clients and public
- Diligence and care in the execution of duties
- Respect for all parties involved in a transaction
Enforcement
Members who do not comply with the Code of Ethics face disciplinary action, which can include fines, mandatory education, or even expulsion from the organization. This rigorous enforcement mechanism helps maintain public trust in REALTORS.
Activities and Advocacy
Professional Development
The NAR offers an array of educational programs, certifications, and designations to help members build expertise in various aspects of real estate. Some popular certifications include:
- Accredited Buyer’s Representative (ABR)
- Certified Residential Specialist (CRS)
- Real Estate Negotiation Expert (RENE)
Legislative Advocacy
NAR actively participates in legislative advocacy at the federal, state, and local levels. It works to influence laws and policies that affect the real estate industry, property rights, and homeownership.
FAQs
What is the role of NAR in real estate?
Who can become a REALTOR?
What is the significance of the NAR Code of Ethics?
References
- National Association of REALTORS®. “About NAR.” https://www.nar.realtor/about-nar
- “The Code of Ethics of the National Association of REALTORS®: Effective January 1, 2020.” https://www.nar.realtor/code-of-ethics-and-arbitration-manual
Summary
The National Association of REALTORS (NAR) is an influential organization dedicated to elevating the standards of professionalism and ethical conduct in the real estate industry. Through its robust Code of Ethics, extensive educational programs, and active legislative advocacy, NAR plays a pivotal role in shaping the profession and protecting the interests of REALTORS and the public. With over a million members and numerous specialized affiliates, the NAR continues to be a cornerstone of the real estate community in the United States.
