# Realtor: Who They Are and What They Do

![Relator Showing House to Young Family](https://www.investopedia.com/thmb/tLdhRqSuFzCp7BZiOLzUCZN5FTA=/1500x0/filters:no_upscale():max_bytes(150000):strip_icc()/GettyImages-81888249-2d998ae2c2014504bcae79d3a9ea7274.jpg)

*— Ariel Skelley/ Getty Images*

> **Definition**
>
> A realtor is a licensed real estate professional who is a member of the National Association of Realtors (NAR) and follows its Code of Ethics.

## What Is a Realtor?

A Realtor is a licensed real estate professional who is a member of the [National Association of Realtors (NAR)](https://www.investopedia.com/terms/n/national-association-of-realtors.asp). Unlike general real estate agents, Realtors must follow a strict Code of Ethics and meet membership requirements set by NAR.

### Key Takeaways

*   A realtor is a real estate professional and a National Association of Realtors (NAR) member.  
    
*   Realtors include agents who work as residential and commercial real estate brokers, salespeople, and property managers.
*   Realtors follow the NAR’s Code of Ethics, which holds them to a higher professional and ethical standard.

## NAR Requirements

To use the Realtor title, a professional must be licensed to practice real estate and be a member of the NAR. All Realtors are real estate professionals, but not all real estate professionals are Realtors.

[Realtors can include](https://www.investopedia.com/ask/answers/101314/what-are-differences-among-real-estate-agent-broker-and-realtor.asp) agents and brokers who handle residential or commercial transactions, salespeople, property managers, [appraisers](https://www.investopedia.com/terms/a/appraiser.asp), and counselors. The term realtor is a registered [trademark](https://www.investopedia.com/terms/t/trademark.asp).

In 2024, 1.5 million members of the NAR include [real estate agents](https://www.investopedia.com/terms/r/realestateagent.asp), brokers, and associate brokers. To maintain membership, Realtors must join a local real estate board and their state’s association. They are expected to demonstrate deep knowledge of the real estate market and uphold the NAR’s Code of Ethics when dealing with clients, the public, and other Realtors.

Among its many requirements, the [Code of Ethics](https://www.investopedia.com/terms/c/code-of-ethics.asp) says that realtors "shall avoid exaggeration, misrepresentation, or concealment of pertinent facts relating to the property or the transaction.” Realtors must “pledge themselves to protect and promote the interests of their clients.”

> **Important**
>
> New rules for the National Association of Realtors took effect in August 2024, giving sellers more control over how and when their property is marketed. Commission rates are now more transparent and negotiable, though agents can still set their own fees. NAR also now requires brokers to enter into written agreements with their buyers to help consumers understand what services will be provided, and at what cost.

## Using the Realtor Trademark

NAR enforces strict guidelines on how members can use the Realtor trademark. Licensed members in good standing with a local NAR board are allowed to use the trademark alongside their personal or business name, but only under specific conditions.

Realtor trademarks must always appear in all capital letters (e.g., “REALTOR®”) and be separated from a name by punctuation. The realtor trademark is prohibited from being used as part of the legal corporate name of members. According to the NAR, this is done to avoid the legal issues involved with a corporate name change if a member were suspended or expelled from the association and lost the right to use the trademark.

The trademark is not meant to describe a professional’s license status or to be used as a general job title like “real estate broker” or “agent.” It is a designation tied specifically to NAR membership.

## When Was the National Association of Realtors Started?

The National Association of Realtors was founded in 1908 under the name National Association of Real Estate Exchanges. It began with just 120 members, 19 local boards, and one state association.

## What Is the Realtor Code of Ethics?

The Realtor Code of Ethics is a set of professional standards that all NAR members must follow. It covers duties to clients, the public, and other Realtors. The code promotes transparency, honesty, and fairness in all real estate dealings.

## How Are Real Estate Agents Different From Realtors?

While all Realtors are licensed real estate agents or professionals, not all licensed agents are Realtors. The key difference is that Realtors voluntarily join NAR and agree to follow its Code of Ethics and professional standards.

## The Bottom Line

A Realtor is a licensed real estate professional who is a member of the National Association of Realtors and adheres to its Code of Ethics. This membership signals a commitment to professional conduct, client-first service, and ethical real estate practices.

While the term “real estate agent” is more general, “Realtor” is a legally protected designation that comes with specific responsibilities and industry recognition.

> **Article Sources**
>
> 1.  National Association of Realtors. "[About NAR](https://www.nar.realtor/about-nar)."
>     
> 2.  National Association of Realtors. "[2024 Year in Review](https://www.nar.realtor/about-nar/by-the-numbers)."
>     
> 3.  National Association of Realtors. "[How to Become a REALTOR](https://www.nar.realtor/membership/how-to-join-nar)."[](https://www.nar.realtor/membership/how-to-join-nar)
>     
> 4.  National Association of Realtors. "[2025 Code of Ethics & Standards of Practice](https://www.nar.realtor/about-nar/governing-documents/code-of-ethics/2024-code-of-ethics-standards-of-practice)."
>     
> 5.  National Association of Realtors. "[National Association of REALTORS® Reaches Agreement to Resolve Nationwide Claims Brought by Home Sellers](https://www.nar.realtor/newsroom/nar-reaches-agreement-to-resolve-nationwide-claims-brought-by-home-sellers)."
>     
> 6.  National Association of Realtors. "[Multiple Listing Options for Sellers](https://www.nar.realtor/about-nar/policies/multiple-listing-options-for-sellers)."
>     
> 7.  National Association of Realtors. "[Use of the MARKS With a Member’s Firm Name](https://www.nar.realtor/membership-marks-manual/use-of-the-marks-with-a-members-firm-name)."
>     
> 8.  National Association of Realtors. "[Membership Suspension Information](https://www.nar.realtor/about-nar/policies/membership-suspension-information)."
>     
> 9.  National Association of Realtors. "[Use of the MARKS With a Member’s Name](https://www.nar.realtor/membership-marks-manual/use-of-the-marks-with-a-members-name)."