In USA only those who are official members of the National Association of Realtors (NAR) can name themselves Realtors. And yes there are many other licensed people practicing this in the real estate business and might actually introduce themselves in the public as realtors but in actuality they are nothing more than fake realtors. They get the term realtor to impress the public and gather more business and clients and keep their business working well but in reality the term realtor in very hard to get. Those who are registered at the NAR are obliged to abide by the code of ethics and rules that every realtor must follow. Before anyone comes a member of the NAR he is made to sign a legal document in which the realtor has to promise that in any real estate transaction he will not only be honest and loyal to both his clients and colleagues.
The realtor ethics code demands that during any kind of negotiation the realtor has the right to represent as side of the game, be it buyer or seller for a given real estate property. The realtor must necessarily protect and guard the interests of his client but not at the cost of the opposite party. He should legally pay respect to them as well. There should under no circumstance be a distorted presentation of facts or exaggeration for that matter. All negotiations must be transparent.
Realtors have perfect knowledge of the real estate business and their knowledge is expensive and pricey. They know in crisp terms how the entire process of real estate business works from buying to how to buy and from selling to how to sell. They know about everything and that includes information about auctions to the stringent processes of legal formalities. They keep monitoring the market value of property and areas all the time. They give the perfect estimate of how much a property should cost. And mostly they know when is the right time to buy or sell a property! Thanks to the Internet, finding a realtor isn’t a tough job anymore. There are specialized real estate websites and property listing along with names of realtors.
NAR has the maximum number of specialized real estate agents and brokers anywhere. They also have economists and counselors, people with impeccable managerial skills, architects and so on. NAR also monitors all the smaller real estate agencies with new and young brokers who if show good performance become member of NAR. Most brokers and realtor, if not all abide by the code of ethics and conduct that NAR prescribes to. NAR is like a community in which people often ask for help from each other. Sometimes most experienced of brokers contact other realtors to know the pricing of a particular area.