You no doubt have noticed during your efforts to find an agent to help you buy or sell a home in Albuquerque a certain term – Realtor®. Why are some real estate agents referred to as a Realtor? Does it matter?
If you want to work with an agent that is required to hold high ethical standards and who spends more time training to buy and sell homes, then yes, it matters. In short, a Realtor is an agent who belongs to the National Association of Realtors (NAR). Other real estate professionals can join the NAR as well, such as property managers and real estate appraisers.
Realtors are required by the NAR to adhere to the standards and codes of the organization. As such, a Realtor in Albuquerque can offer you a better home buying and selling experience than an agent who is not a member of the NAR.
Becoming a Realtor is not as simple as just paying a yearly $150 fee for the designation. Every four years, a Realtor must pass a course on the NAR Code of Ethics, which is strictly enforced by local real estate boards. A Realtor can lose this designation if they don’t uphold that code.
As far as daily responsibilities are concerned, there’s no difference between a real estate agent and a Realtor. The difference is mainly the fact that they follow the NAR Code of Ethics, which ensures that your real estate transaction will an honest one.
What are some of the 17 articles of this code that Realtors must follow?
- Protect and promote the best interests of buyers and sellers ahead of their own, as well as treating all parties honestly.
- A Realtor shall not exaggerate, misrepresent, or conceal any material facts about a property.
- Realtors shall cooperate with other real estate agents and brokers when it’s in the best interests of their clients to do so.
- Realtors shall not collect a commission, rebate or profit from the transaction without the seller’s knowledge, nor recommend third parties from which they will profit from without the seller’s express consent.
- Realtors will not discriminate in providing services for any reason based on race, color, religion, sex, handicap, familial status, sexual orientation, gender identity, or national origin.
- A Realtor must be truthful in advertising and marketing. Realtors also shall never quote pricing other than the agreed-upon listing price unless expressly permitted by the seller.
These are just some of the requirements of the NAR code. This gives you an idea of the strict standards that Realtors must adhere to in order to maintain their hard-earned designation. The designation of Realtor is a symbol of trust that gives Albuquerque home buyers and sellers confidence in the integrity of their transaction.
Sandi Pressley is the top selling Realtor in the entire state of New Mexico. She has spent decades proving that she constantly lives up to the high standards of the National Association of Realtors. Contact Sandi Pressley and her team today to see how her title of Realtor can be put to work for you as you buy or sell your home in Albuquerque.
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