Real Estate Agent & REALTOR®, What's The Difference? Chico Real Estate

Real Estate Agent & REALTOR®, What's The Difference? Chico Real Estate

Buyers and Sellers may not know, but the name REALTOR^® And real estate agent are not synonymous. While most states require licensing and by law require a level of ethics be applied, membership in the National Association of REALTOR^® (NAR)"establishes obligations that may be higher than those mandated by law." Chico Real Estate

The following is an exerpt from the NAR Preamble to that Code of Ethics. The Code of Ethics establishes the responsibilities of the Realtor-Associate on behalf of clients, customers, the public and each other. Hopefully this information will assist Buyers and Sellers in understanding the added value of engaging the services of a REALTOR^®.

Preamble:
Under all is the land. Upon its wise utilization and widely allocated ownership depend the survival and growth of free institutions and of our civilization. REALTORS^® should recognize that the interests of the nation and its citizens require the highest and best use of the land and the widest distribution of land ownership. They require the creation of adequate housing, the building of functioning cities, the development of productive industries and farms, and the preservation of a healthful environment.

Such interests impose obligations beyond those of ordinary commerce. They impose grave social responsibility and a patriotic duty to which REALTORS^® should dedicate themselves, and for which they should be diligent in preparing themselves. REALTORS^®, therefore, are zealous to maintain and improve the standards of their calling and share with their fellow REALTORS^® a common responsibility for its integrity and honor.

In recognition and appreciation of their obligations to clients, customers, the public, and each other, REALTORS^® continuously strive to become and remain informed on issues affecting real estate and, as knowledgeable professionals, they willingly share the fruit of their experience and study with others. They identify and take steps, through enforcement of this Code of Ethics and by assisting appropriate regulatory bodies, to eliminate practices which may damage the public or which might discredit or bring dishonor to the real estate profession. REALTORS^® having direct personal knowledge of conduct that may violate the Code of Ethics involving misappropriation of client or customer funds or property, willful discrimination, or fraud resulting in substantial economic harm, bring such matters to the attention of the appropriate Board or Association of REALTORS^®. (Amended 1/00)


The term REALTOR^® has come to connote competency, fairness, and high integrity resulting from adherence to a lofty ideal of moral conduct in business relations. No inducement of profit and no instruction from clients ever can justify departure from this ideal.

In the interpretation of this obligation, REALTORS^® can take no safer guide than that which has been handed down through the centuries, embodied in the Golden Rule, "Whatsoever ye would that others should do to you, do ye even so to them." Chico Real Estate

The Code of Ethics can be viewed in it's entirety HERE