Most people generally use the terms "real estate agent" and "Realtor" interchangeably, although there is a thin line separating the two concepts.
The terms realtor, realtors, and realtor-associate in all capitals are trademarked and used with the symbol ®. When used with a name or names, it signifies that the person or organization is more than just a real estate practitioner, has membership in NAR, and is legally protected. On the other hand, real estate agents holding valid licenses are not members of a national association.
Read ahead to know the 5 major factors that make realtors reliable.
1. National Association Of Realtors (NAR)
The National Association of Realtors (NAR) is America's largest trade association. It manages the real estate market, adds authenticity to your profession with a membership, distinguishes members from other real estate licensees, and allows trademark use.
A NAR realtor is a professional who is groomed for real estate transactions. They benefit from building partnerships that create or construct custom facilities like parking spaces for the disabled. They can provide services according to their client's needs or requirements. Reputed organizations follow a strict code of ethics that helps buyers avoid incorrect costing and delays in property acquisition.
2. Blemish-Free Record
With their wide array of resources and experience, realtors can ensure that property buyers or sellers feel confident and content with the transaction. Professionals are expected to stay informed about legal changes. Understanding how state and federal laws and regulations apply, such as to the real estate in Wallace, Idaho, helps safeguard the client's investments. Membership of the National Association of Realtors involves the state with its citizens as buyers or sellers. A blemish-free record is necessary to have the middleman answerable for the arrangement.
3. Limitations Of Trademark Law
A real estate professional can use the ® trademark only when identifying as a National Association of Realtors member. The law limits the use of the mark to prevent its generic use for a position or business.
One can use the trademark only in connection with their real estate business or the place of work associated with the NAR membership. This further refines the terms of use and exclusivity of the profession of a realtor.
Trademarked businesses benefit monetarily as the logo is often used for visibility, profit, partnerships, and royalty. The licensee/s can further expand their business with extensive advertisement.
4. Ability To Customize
Experience and knowledge of the industry are crucial factors for the success of any business. With time, a realtor can expand their business and their list of clients and service providers such as architects, electricians and other professionals. That gives them an advantage over other brokers and salespersons and allows them to provide customizations like building space for a children's playground or swimming pool according to an individual client's requirements.
A reputed and successful realtor can accommodate design and construction modifications for the client and come up with creative solutions to problems. This flexibility attracts the right buyers.
5. A Network Of Connections And Knowledge Of The Market
A Realtor has to pay close attention to details and stay up-to-date about the market scenes. Their experience and working knowledge help them develop a network of connections, including other real estate agents and brokers, potential buyers and sellers, and all the other players in the industry, such as appraisers, home inspectors, and mortgage loan officers. Any impartial service provider caters to a wide range of financial backgrounds or sites and can close more deals.
Main Takeaways
Housing or commercial properties are an important investment. You want to use your resources where ROI is ascertained. So a buyer must choose their arbitrator carefully. Realtors are the real deal in realty!
