Realtor is a collective membership mark that is used to identify a licensed real estate professional who is an active member of the National Association of Realtors (NAR) and is legible to follow the code of ethics of NAR. This title can be given to residential and commercial real estate brokers, salespeople, property managers, counselors, and other real estate professionals. It is worth noting that not all real estate professionals are realtors though all realtors are real estate professionals; for example, not all real estate brokers are realtors. Although all real estates professionals and realtors are licensed, only those professionals who are the members of the National Association of Realtors can use the trademark realtor.
Sometimes back the trademark realtor became a suspect of misleading information until the realtor code was founded on the principles of the golden rule that contained all the requirements and ethics to be observed by all realtors when dealing with clients and fellow realtors. The major duty of a realtor is to help in buying and selling of real estates. According to the code, realtors must cooperate with one another in serving their clients and put the interests of their clients above their own interests. They must comply with the organization’s code of ethics in terms of the financial and legal duty to the clients. They must pledge to be honest and truthful when dealing with clients and seek to protect the interests of their clients by avoiding exaggeration and showing the true color of the advertisement. A realtor should not interfere with another realtor and his client if they are engaged in an exclusive relationship. These codes are monitored by the state boards to ensure that they are strictly followed.
When buying or selling a real estate, you actually need the help of a realtor. Some buyers decide to buy real estates without using realtors fearing the cost that might be involved, but it is important to note that for a buyer you don’t pay anything, it is absolutely free, but for a seller, you have to pay a fee. The major responsibilities of a realtor from Mary Dempster are to represent the client to get the best property at the best price while protecting the interests of the client. This is ensured through researching for the best property and taking the client out to view the property and negotiating the terms of purchase for the buyer. When representing the seller, the realtor should do the advertisement to find the best buyers with the best prices and negotiate for the terms of sale on behalf of the seller while protecting the seller’s interests. Therefore, a realtor acts as an intermediary between the buyer and the seller. Before deciding to buy a real estate, you should be informed enough and know how it might affect your budget and how it can help you achieve your goals hence it is important to work with a realtor. Check our website and learn more from us.
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