Real Estate Agents v. REALTORS®

Though the two terms are often used interchangably, real estate agents and REALTORS® have different connotations. While both types of real estate professionals help clients buy and sell property in a similar fashion, REALTORS® are members of the National Association of REALTORS®. Retaining membership to this prestigious organization requires a strict adherence to seventeen tenets of ethical behavior in real estate transactions. While evaluating the ethical behavior if each individual real estate professional would prove impossible and the morality of each REALTOR® is not guaranteed, it is fact that unaffiliated real estate agents are not required to conform to these policies.

The Seventeen Commandments of REALTORS®

1. Treat your clients—buyers, sellers, landlords, or tenants—fairly and honestly while protecting and promoting their interests.
2. Do not misrepresent, exaggerate, or lie about any property.  However, you are not responsible for latent defects or providing advice unrelated to real estate.
3. Cooperate with other brokers, except when cooperation is not in your client’s best interest.
4. If you have any personal interest in the property (for yourself, friends, family, or co-workers), you must tell the property owner.  If selling your own home, you must reveal this information to the buyer.
5. Do not represent a property of which you have marked interest without disclosing this information to all affected parties.
6. Do not take any commissions or additional fees for favors or recommendations without notifying the client when these costs are first mentioned.
7. Do not accept compensation from more than one party per transaction without prior approval from all parties involved.
8. Keep your personal assets in a separate account from your professional funds.
9. Make sure all agreements and contracts are written explicitly in laymen’s terms that all clients will understand.  After signing, give each party a copy of the contract.
10. Do not discriminate based on race, color, religion, gender, handicap, familial status, or national origin. 
11. Conform to quality standards of the specific type real estate transaction.  Do not undertake a job if it is outside of your field without the assistance of a professional competent in said field.
12.  Represent yourself honestly to the public, clearly stating your professional status.
13. Do not pretend you are a lawyer.
14. Cooperate, be honest, and present all facts if you are charged with unethical practice.  Do not disrupt the proceedings.
15. Do not engage in slanderous activity against competitors.
16. Do not interfere with other REALTOR’S® exclusive relationships with their clients.
17. In the event of a dispute, go to the REALTOR® board for arbitration rather than going to a regular legal court.

 

If you are a REALTOR® or a real estate agent, YAERD can help you find prospective homebuyers and sellers in your area. Our high visitation rate gives us an extensive network of real estate professionals and investors who may be interested in seeking representation in your area. If you are interested in using YAERD's large real estate network to increase your business traffic, fill out the form below.

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If you are in the market for purchasing real estate property, you may want to enlist the aid of a real estate agent or REALTOR®. YAERD has a number of approved real estate professional partners who specialize in helping you buy and sell homes all over the country. If you would like to receive further information about the YAERD-approved real estate agent or REALTOR® in your area, fill out the form below.

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