National Association of Realtors

Answer 1

Realtors, the members of the National Association of Realtors, are the largest trade association in North America. It represents over 1.2 million members plus all of their councils, institutes, societies and anything they are involved in regarding residential and commercial real estate. The National Association of Realtors grows each year and the association’s president for 2008 is Richard F. Gaylord. The association operates as a Self Regulatory Organization.

The National Association of Realtors was founded in 1908 as the National Association of Real Estate Exchanges. The original group was located in Chicago, Illinois. The group then changed its name to the National Association of Real Estate Boards in 1916 and then acquired its current name in 1974. The current version of the group, the National Association of Realtors, is consisted of a variety of different members.

Those members are residential and commercial real estate brokers, salespeople, appraisers, counselors, immovable property managers and any other members that practice within the industry where a state license to practice is required. All members of the National Association of Realtors belong to over 1,600 different boards locally. All members are also required to honor a realtor code of ethics that includes their promises to their customers, clients, the public and to their fellow realtors. Each local group of the 1,600 is required to enforce the realtor code of ethics with a Professional Standards Council or Committee. If a realtor is found guilty of breaking the code of ethics they can be fined upwards to $5,000, be enrolled in an educational course, can have their membership suspended or expelled, be issued a letter of warning or can be placed on probation.

The following is a list of NAR (National Association of Realtors) sponsored members:

• Accredited Buyer Representative

• Accredited Land Consultant

• Certified Commercial Investment Member

• Certified Property Manager

• Certified Real Estate Brokerage Manager

• Certified Residential Specialist

• Certification for internet Professionalism

• Certified International Property Specialist

• Counselor of Real Estate

• Graduate of the Realtor’s Institute

• Real Estate Professional Assistant

Not only does the National Association of Realtors provide services to the public when looking to purchase property but they are also heavily involved with political campaigns. The National Association of Realtors had the largest PAC, or Political Action Committee, in the United States in 2005. The National Association of Realtors is the United States’ third largest donor to political campaigns. They have donated an estimated $30 million to various political campaigns since 1990. Their donations have been split up almost evenly since 1990 between Democrats and Republicans. The group has donated 53 percent of their money to Republicans and 47 percent to Democrats.

The terms realtor and realtors were trademarked by the National Association of Realtors in 1949 so that no other commercial party could use the term and cause confusion as to what was being referenced. Only members or license holders of the National Association of Realtors can use the terms realtor or realtors as of 2008.