Definition

Proper noun: * National Association of Realtors: A major professional organization in the United States for individuals working in the real estate industry. Its members, known as Realtors®, agree to adhere to a specific, strict code of ethics that governs their professional conduct.

Usage

• The term is used as the official name of the organization. It is often abbreviated as NAR.
• It distinguishes members (Realtors®) from real estate agents who are not members of the association.

Examples

• To join the National Association of Realtors, a real estate agent must subscribe to its code of ethics.
• The National Association of Realtors publishes monthly reports on housing market trends.
• She is a member of the National Association of Realtors, so she is bound by its professional standards.

Advanced Usage

• The term Realtor® (with a capital 'R' and often registered) is a trademarked term that specifically refers to a member of the National Association of Realtors, not just any real estate agent.
  • Correct: "As a Realtor®, I follow the NAR's code of ethics."
  • Less precise: "As a real estate agent, I am a realtor."

Variants and Related Words

• NAR: The common initialism for the National Association of Realtors.
• Realtor® (noun): A real estate professional who is a member of the National Association of Realtors and subscribes to its code of ethics.
• Realtor-Associate® (noun): A licensed real estate agent who works under the supervision of a Realtor® who is a broker.

Synonyms

• Real estate association (a more general, non-trademarked term for similar organizations).
• Professional body for real estate agents.

Noun

1. a United States association of real estate agents which follows a strict code of ethics