things to know about the National Association of REALTORS® Code of Ethics

4 Things to Know About the National Association of REALTORS® Code of Ethics

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Looking for a house, not to mention a Realtor, can be overwhelming. However, these four things to know about the National Association of REALTORS® Code of Ethics will help you see the benefits of working with one from the beginning!

But before we delve into the main things to know about the National Association of REALTORS® Code of Ethics, let’s first review what it is and why it was created.

What is the Code of Ethics, and why was it created?

In a nutshell, the NAR’s Code of Ethics is a self-improving guide for all real estate professionals. It was created to guarantee clients are served fairly by requiring Realtors to work together in promoting the clients’ best interests at all times.

Required continuing education courses ensure that Realtors stay up-to-date on the Code and any changes it undergoes year to year.

It was established over 100 years ago.

Did you know the NAR’s Code of Ethics was adopted in 1913? According to the NAR website, it was “one of the first codifications of ethical duties adopted by any business group.”

It embodies the Golden Rule.

Simply put, “Do unto others as you would have them do unto you.” Realtors apply this guiding principle to all their activities, from personal to professional.

There are three main sections.

There are three main sections outlined in the Realtors’ Code of Ethics.

Duties to Clients and Customers

When it comes to things to know about the National Association of REALTORS® Code of Ethics, know that the client is always the number one priority. But Realtors remain obligated to treat all parties honestly, even while promoting and protecting their clients’ best interests.

Duties to the Public

This section includes everything from equal professional services for all to truthfulness in all communications—from emails to advertising.

Duties to Realtors

Once again, the Golden Rule is a guiding principle in this case. Under the Code of Ethics, Realtors promise to be fair, honest and supportive of other real estate professionals.

It gives you—the client—peace of mind.

Knowing your Realtor has taken an oath to protect and promote your best interests in all transactions is comforting. Understanding your Realtor is obligated to disclose pertinent facts about the property is comforting.

Realizing your Realtor works diligently to promote a healthy, competitive marketplace is comforting. And, last but not least, knowing your Realtor is committed to staying current on issues affecting real estate gives you peace of mind.

Summary

Now that you have a better understanding of why “Realtor” has come to mean “competency, fairness and high integrity,” are you ready to connect with a local expert? We can help! Search for Lee County Realtors here. For more industry news and tips, keep reading our blogs.

numbers to know about the National Association of REALTORS

10 Numbers to Know About The National Association of REALTORS®

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From phone numbers to statistics to followers, numbers matter. Here are 10 numbers to know about the National Association of REALTORS® (NAR) that offer industry insights, highlights and more.

1,556,762 members

In this case, it’s one of the record-setting numbers to know about the National Association of REALTORS! Membership is currently at an all-time high for America’s largest trade association.

172 billion

The total number of people reached through NAR’s national and local earned media communications in 2020 was 172 billion. That’s a 36 percent increase from 2019!

40,500 followers

Sometimes being a follower is a good thing—like when it comes to following along with the other 40,500 people on board with the “REALTORS are Good Neighbors” Facebook page.

Did we mention that’s a 30,000-follower increase from last year?

3 billion

As in three billion impressions during NAR’s “That’s Who We R” national consumer advertising campaign in 2020!

1,608 pounds

That’s 1,608 pounds of food donated from REALTOR groups through the NAR’s partnership with the Food Recovery Network, which roughly translates into about 1,340 meals.

$800,000+

And the giving continues with more than $800,000 raised as part of the REALTORS Relief Foundation 20th Anniversary Commemorative Event, Hope Rising.

800,000

In this case, 800,000 refers to the number of members who cumulatively saved more than $75 million from one or more of the products offered through the REALTOR Benefits Program.

$93,800

Every time a house is sold, approximately $93,000 becomes money-in-motion circulating back into the economy.

In fact, the real estate industry accounted for $3.83 trillion in economic activity in 2020, which makes it about 18.3 percent of the U.S.’s total Gross Domestic Product.

235,000 REALTORS

To clarify, there are 235,000 REALTORS with some sort of NAR credentials. Those designations and certifications include everything from Accredited Buyer’s Representative to At Home with Diversity certification.

1-800-874-6500

Finally, out of all the numbers to know about the National Association of REALTORS, this one may be the handiest! For any membership questions or inquiries, you can always call one of their information specialists to help.

Summary

Before we wrap this up, there is one more number we’d like to share: (334) 321-0606. If you are considering becoming a Lee County REALTOR, give us a call to find out more! Or, if you need help locating a REALTOR, we can help with that too. Keep reading our blogs for more real estate industry news and trends!

benefits of working with a REALTOR®

9 Benefits of Working with a REALTOR®

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Let’s start with honesty. Honestly, real estate may seem simple on the surface, but once you dive in, you realize it gets deep. These nine benefits of working with a REALTOR® may help you avoid getting in over your head!

Honest, ethical conduct.

REALTORS® are licensed professionals. As members of the National Association of REALTORS®, each REALTOR® must abide by a strict code of ethics. To summarize, expect transparent and fair treatment in all transaction-related dealings.

Additionally, your interests come first and foremost.

Objective information and input.

First of all, clients working with REALTORS® will receive non-biased, factual information on properties. REALTORS® can provide information on schools, zoning, utilities and more.

In fact, when it comes to the benefits of working with a REALTOR®, having access to their data as a resource is a huge! After all, you are making a life-changing decision—so having all the facts possible is a strong advantage.

A network of vendors.

Why waste time searching for and vetting an endless list of potential vendors? REALTORS® can easily provide you with a list of respected professionals. This includes contractors, repair professionals, staging companies, photographers, appraisers and so on.

Increased search power.

Along the lines of more data, working with a REALTOR® gives clients the ability to review the Multiple Listing Service (MLS). The MLS is a tool used by REALTORS® to list homes and find others on the market.

Often, there are properties available on the MLS that are not listed anywhere else.

Current know-how.

Rules and regulations change. When you work with a licensed REALTOR®, you can count on their up-to-date knowledge.

Expert local market advice.

Local REALTORS® know the local market better than anyone. They will know what is hot and what is not. To clarify, they can tell you to yay or nay when it comes to national trends versus what is selling locally.

Gain an expert negotiator.

The benefits of working with a REALTOR® keep getting better! Knowing you have a professional advocate looking at all angles centered on your best interests is worth its weight in gold.

Emotional support.

Perhaps one of the more underestimated benefits to working with a REALTOR® is the emotional support. Again, they are objective bystanders who get the gravity of what is inevitably an emotional situation.

They will provide an ear to listen as you work together through the in-depth process.

Expert guidance.

Finally, we saved the best for last. Working with REALTORS® ensures you receive expert guidance every step of the way!

Summary

If you weren’t sure about the benefits of working with a REALTOR®, hopefully this sheds some light! We are also here to answer any questions you may still have. Each and every member of LCAR is capable of handling any and all of your real estate needs. To find out more about us, our members and local real estate news, keep reading our blogs!