What is a realtor or should I say who? Is a realtor a person or a professional? Many people with hinge knowledge as to what or who a realtor has always mixed the meaning of a real estate agent. In this post, however, the said issue will be addressed.
What or who is a realtor? A realtor is a real estate professional. This person is a member of the national association of realtors. Well, the said person is not just a member of the national association of realtors but also adheres to the association’s strict code of ethics. The association’s strict code of ethics is based solely on professionalism and the protection of the public.
A realtor is however different from a real estate agent although many people think that these set of persons are the same. A real estate agent is more like a real estate professional with a credible license. These agents help people to buy and sell both residential and commercial properties. A real estate agent can also become a realtor only when he or she joins the national association of realtors.
How to Become a Real Estate Agent
Becoming a real estate agent is no work in the park. It is however easy and can take up to four to six months and is also dependent on where you get your license from. I won’t be giving you the whole rundown on the major necessities of becoming a real estate agent. But I will, however, give you a rundown on the basic steps to becoming one.
To become a real estate agent, follow the steps below;
- First, you will need to research the educational and age requirements in your own state
- Next, you will need to enroll in an approved real estate institution either online or in-person
- After that, you will need to submit an application and necessary paperwork which is very necessary for a bid to take the final licensing exam
- You will need to partake in a real estate license exam and also meet the minimum score in your state
- Start working with a licensed real estate broker in order to get experience in the field
- To start practicing as a real estate agent you will then need to apply for your license
- If approved you can now start practicing as a real estate agent.
You will need to continue with your education and also renew basic and much-needed certifications.
How to Become a Realtor
Now that you have learned that a real estate agent is different from a realtor and you have also learned how to become a real estate agent, it is time to learn how you can become a realtor. To become a realtor, follow the steps below;
- Firstly, you will to identify and join the local chapter of the NAR in your region
- In a bid to be part of the association you will need to pay your necessary dues
- Next, you will have to take and also pass an online course and examination on the code of ethics
- Keep to the standards of practice of NAR all through your career
- Lastly, you will have to retake the required online course every four years in order to maintain the certifications
The National Association of Realtors Code of Ethics
The code of ethics was created by the national association of realtors as a set of guidelines and rules that all realtors must adhere to and are enforced severely by real estate boards. The code of ethics states the duties of realtors to clients, other realtors, and the general public.
The code of ethics is made up of 17 articles which are encompassing various areas of professional standards of practice that must be adhered to.
Articles one through tot 9 of the code of ethics is made up of realtors’ duty to their clients. Articles 10 through to 14 on the other hand states a realtor’s duty to the general public. And lastly, articles 15 through to 17 show a realtor’s duty to other realtors.
Below is a summary of the ethical duties of realtors to abide by;
- Promote the interest of clients before their own and also treat all parties involved with honesty.
- Avoid misrepresenting and exaggerating or withholding truths and facts regarding properties or transactions within the scope of their real estate license.
- Help out different intermediaries when it is in their customer’s wellbeing.
- Reveal with their customer assuming they are working with one more individual from their current customer’s family.
- Abstain from offering proficient types of assistance in regards to a property they have an interest in, except if it is uncovered to the customer.
- Get the customer’s assent and information prior to tolerating any type of installment or commission.
- Unveil to all gatherings and get assent from their customer assuming an installment is to be gotten from more than one party engaged with an exchange.
- Keep individual assets and customers’ assets isolated.
- Guarantee all arrangements are obviously and naturally imparted between all gatherings engaged with an exchange, and that each party gets a duplicate of every understanding.
- Avoid oppressing any individual in light of race, shading, religion, sex, handicap, familial status, public beginning, sexual direction, or orientation character.
- Capabilities comply with norms of training in their land discipline and don’t offer types of assistance they are inadequate for.
- Stay honest in their promoting and showcasing materials.
- Try not to specialize in legal matters in the event that they are not approved to do as such.
- Present all proof and participate whenever accused of exploitative practice.
- Avoid offering bogus or misdirecting expressions about other realtors.
- Try not to meddle in another real estate professional’s authoritative connections.
- Handles disputes and misunderstandings with other realtors‘ contractual relationships.