REALTORS® & Real Estate Agents
It stands to reason that all Realtors®
are real estate agents, but not all real estate agents are Realtors®.
The truth is, all real estate licensees are not the same. The terms REALTOR
and real estate agent are often used interchangeably, but there are differences
between the two. REALTORS are members of the National
Association of REALTORS® — the
world's largest professional organization — and as such, they pledge
to subscribe to a Code of Ethics which is strictly enforced. It contains
17 Articles and several Standards of Practice. The REALTOR code covers
ethical requirements that deal with all aspects of the job — from
working with consumers and fellow agents to adhering to rules involving
fair and truthful advertising.
Agents who join NAR are also joining their state
and local Realtor organizations for which they pay regular dues. They
also pay fees for ongoing membership in their local MLS.
All licensed agents are required to take continuing education courses
approved by their state licensing boards in order to retain membership
in NAR. These classes often focus on ethical work habits and other consumer
protection topics. REALTORS also have representatives who lobby Congress
for Realtor needs and the group holds annual state and national conventions.
REALTORS are committed to treat all parties
to a transaction with honesty and fairness and are expected to maintain
a higher level of knowledge of the process of buying and selling real
estate. An independent survey reports that 84% of home buyers would use
the same REALTOR again.
Napa REALTORS®
Napa REALTORS are members of the North
Bay Association of REALTORS® (NorBAR), a 3000+ member four-county
trade association covering Sonoma County, Napa County, the 101 corridor
in Mendocino County and the western portion of Lake County including Lakeport.
Choose a Napa REALTOR® and you will be represented with care, trust
and integrity.
The “National Association of REALTORS
Code of Ethics & Standards of Practice” is a set of rules which
is much more restrictive than the general rules and obligations for agents
who simply hold a real estate license. (It's important to note that those
not having joined the organization can not legally use the term “REALTOR”
in any form.)
To follow, are the 17 Articles that a REALTOR pledges to uphold.
| 1. |
Pledge to put the interests
of buyers and sellers ahead of their own and to treat all parties
honestly and fairly. |
| 2. |
Shall
refrain from exaggerating, misrepresenting or concealing material
facts; and is obligated to investigate and disclose when situations
reasonably warrant. |
| 3. |
Shall
cooperate with other brokers / agents when it is in the best interests
of the client to do so.
|
| 4. |
Have a duty to disclose
if they represent family members who own or are about to buy real
estate, or if they themselves are a principal in a real estate transaction,
that they are licensed to sell real estate. |
| 5. |
Shall not provide professional
services in a transaction where the agent has a present or contemplated
interest without disclosing that interest. |
| 6. |
Shall not collect any
commissions without the seller's knowledge nor accept fees from a
third-party without the seller's express consent. |
| 7. |
Shall refuse fees from
more than one party without all parties' informed consent. |
| 8. |
Shall not co-mingle
client funds with their own. |
| 9. |
Shall attempt to ensure
that all written documents are easy to understand and will give everybody
a copy of what they sign. |
| 10. |
Shall not discriminate
in any fashion for any reason on the basis of race, color, religion,
sex, handicap, familial status, or national origin. |
| 11. |
Expects
agents to be competent, to conform to standards of practice and
to refuse to provide services for which they are unqualified. |
| 12. |
Must engage in truth in advertising.
|
| 13. |
Shall not practice law unless they
are a lawyer. |
| 14. |
Shall cooperate if charges are brought
against them and present all evidence requested. |
| 15. |
Agree not to bad mouth competition
and agree not to file unfounded ethics complaints. |
| 16. |
Shall not solicit another REALTOR'S
client nor interfere in a contractual relationship. |
| 17. |
Shall submit to arbitration to settle
matters and not seek legal remedies in the judicial system. |
The “National Association of REALTORS®
was founded in 1908 and has more than one million members.
|
