What is a REALTOR®
There are approximately 3.8 million
licensed real estate professionals in the United States, but only
members of the NATIONAL ASSOCIATION OF REALTORS® can call themselves
REALTORS®.
Approximately 950,000 real estate professionals have taken the additional
step to join NAR, The Voice for Real Estate. When choosing a real
estate professional, look for the registered trademark, REALTORŪ.
Unlike real estate practitioners who are simply licensed by their
state to do business, REALTORS® are members of NAR and subscribe to
the association's strict Code of Ethics and Standards of Practice.
The term REALTORŪ stands for competency, fairness, high integrity,
and moral conduct in business relations. REALTORS® pledge to adhere
to NAR's strict Code of Ethics and Standards of Practice. Among other
things, membership in NAR obligates them to be honest with all parties
involved in a transaction, whether it is the buyer, seller, or cooperating
agent. The Code requires REALTORS® to identify and take steps to eliminate
practices which may damage the public or which might discredit or
bring dishonor to the real estate profession.
All REALTORS® are required to take a minimum of a two and a half hour
orientation on the Code of Ethics Existing members must take a refresher
training course every four years. REALTORS® enjoy advanced educational
opportunities and training in real estate specialties that are not
available to other licensees. Most property transactions are complex
procedures, requiring the knowledge and expertise of a real estate
professional. There may come a time when you need the assistance of
a real estate professional who is specially trained in a specific
aspect of the business. NAR offers advanced educational opportunities
to its members that enable REALTORS® to present the public with such
accredited sub-specialties as buyer's representation (ABR), residential
real estate expertise (CRS), or Internet readiness (e-PRO).
Through membership in NAR's affiliated institutes, societies, and
councils, REALTORS® devote themselves to continuous study of the most
recent trends in their respective fields. The affiliates award specialty
designations that recognize a member's advanced education and experiences
in a particular discipline. Courses offered through the affiliates
keep members abreast of developments in their specialized fields and
better able to address industry issues. REALTORS® are advocates for
homeowners and homeownership.
NAR is the ONLY national lobbying group that looks out for the interests
of homeowners. Every year, NAR leads the way on Capitol Hill and in
the corridors of Washington to keep homeownership a top national priority.
NAR's support for the mortgage interest deduction and other federal
policies helps to keep housing more affordable and makes housing a
great investment; through sound housing policies, more home seekers
than ever before are enabled to purchase a home of their own. NAR's
campaign to increase consumer awareness about the value REALTORS®
bring to the buying and selling process features television advertisements
that air on national networks and cable. The advertisements, now airing
for the sixth season, address the residential and the commercial real
estate markets. NAR's public awareness campaign, developed to help
increase consumer awareness about the value of using a REALTORŪ in
a real estate transaction, added a new theme last year: "Work with
someone who'll work with you. We're REALTORS®. Real Estate is Our
Life." The addition of the sentence, "Work with someone who'll work
with you," is designed to appeal to the growing desire of many consumers
to work in partnership with real estate professionals.
From 1999 to 2002, according to surveys, the percentage of consumers
saying there are benefits to working with a REALTORŪ, as opposed to
a real estate agent, rose from 42 percent to 61 percent. Consumers
who say they are more likely to select a REALTORŪ over a licensee
average 69 percent for home sellers and 63 percent for homebuyers.
Recent surveys also show that 63 percent of sellers feel that REALTORS®
are best qualified to promote the sale of their home, and 60 percent
feel REALTORS® get the job done properly. About 59 percent of buyers
feel that REALTORS® are best qualified to help find the home that
meets their needs, and 58 percent say REALTORS® make homebuying easier.
The NAR Board of Directors has extended a special assessment to support
the campaign through 2008.
New Real Estate License Law Bill Approved
August 01, 2006
SIGNIFICANT REAL ESTATE LICENSE LAW REFORM BILL SIGNED INTO LAW -
Governor George E. Pataki has signed into law legislation that increases
the real estate salesperson qualifying course hours from the current
45 hours to 75 hours effective July 1, 2008. This legislation was
strongly supported by NYSAR.
In addition to increasing the qualifying hours, the new law accomplishes
the following:
Office Managers: Requires office managers to be either a licensed
broker or associate broker.
Broker Qualification: Requires salespersons to conduct two years of
business under the supervision of a broker to qualify for a broker's
license.
On-Line Qualifying Courses: Permits the Department of State to approve
computer-based and distance learning for the delivery of salesperson
and broker qualifying courses.
CE Exemption: For anyone licensed after July 1, 2008, there will no
longer be an exemption from continuing education after 15 years of
continuous service. This action DOES NOT AFFECT anyone currently licensed
or who will be licensed prior to July 1, 2008.
Pocket Cards: Requires the issuance of photo pocket identification
cards
Again Big Banking forcing their way into Real Estate
Once again the Big Banking Conglomerates are
forcing their way into Real Estate. February 16, 2006
Federal Agency Power Grab
Once again the Big Banking Conglomerates are forcing their way into
Real Estate. And once again, they are going around Congress to get
this done.
We need you to speak up and urge Congress to rein in this bank "regulator".
This past December, the Office of the Comptroller of the Currency
(the OCC) expanded the authority of certain banks to engage in commercial
real estate. As a result, one bank can now build a Ritz Carlton hotel,
another is building 32 condos and a third has permission to own a
windmill farm! No matter how you look at it, the OCC has crossed the
line between banking and commerce.
The savings and loan scandal of the 1980s was caused by government
policies which allowed the mixing of banking and commerce. The same
mixing of banking and commercial activities devastated the Japanese
banking system and crippled that country's economy for years. If banks
are allowed to own and develop real estate, we could face an even
greater crisis than we did in the 1980s.
Your REALTOR® voice needs to be heard now. The OCC's decision cannot
go unchecked. Urge your lawmakers to contact the OCC about this abuse
of power.
Take Action NOW. In just three clicks you can send a personal letter
to your federal lawmakers. REALTORS® play by the rules - so should
banks.
Hamptons
and North Fork REALTORS® Association