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During the month of May, more and more people will hear the term Realtor on the radio or read it in the newspaper as the California Association of Realtors launches a new public awareness campaign designed to highlight the difference between Realtors and real estate agents.
"This campaign is an opportunity to communicate directly with consumers about the added value they receive by working with a Realtor when buying or selling a home." said California Association of Realtors President Toby Bradley. "The campaign helps clarify the difference between Realtors and real estate agents and highlights the level of professionalism attained by California's more than 115,000 Realtors."
The campaign came about because research showed that consumers were unclear or unaware of the difference between Realtors and real estate agents. "The new campaign is designed to empower consumers to be more proactive and more choosy about the person who will be handling the single most important transaction they may ever make," Bradley said.
In the state of California there are more than 300,000 real estate licensees, but only 115,000 actually carry the designation of Realtor and are required to subscribe to a strict code of ethics and standards of practice. According to the National Association of Realtors, the term Realtor stands for competency, fairness, integrity and moral conduct in business relations.
Among other things, the Realtor designation obligates members to be honest with all parties involved in a transaction, whether it is the buyer, seller or cooperating agent. Realtors who belong to the National Association of Realtors are also members of the California Association of Realtors and their local association.
Judy Jarvis Ellis, president of the Silicon Valley Association of Realtors, believes the strict code of ethics holds Realtors accountable. "In my opinion, if I were at the beginning of the process of entrusting the cherished dream of home ownership to someone, the first thing I would ask is, 'Are you a Realtor?' " said Ellis.
All Realtors are required to take a minimum of a 21/2-hour orientation on the code of ethics. Existing members must take a refresher training course every four years. Realtors can take advantage of advanced educational opportunities and training in real estate specialties that are not available to other licensees.
"Training and development are an ongoing, week-in and week-out part of being a Realtor. Studying and passing the state exam are very minor events in obtaining your license to sell real estate. The real challenge begins once you are licensed," said Realtor Dale Klippel of Prudential California Realty. "Now comes the day-in, day-out training to turn you into a true, professional Realtor."
The designation of Realtor does carry a good deal of weight and credibility within the community, especially in the political arena, said Klippel. He cites political advocacy efforts with local political leaders such as mayors and city council members, as well as at the state Senate and House of Representatives.
As one of the largest lobbying organizations in the state and nation, Realtor associations act as watchdogs to protect homeowner rights. The National Association of Realtors said that it is one of the only lobbyists for homeowners in the nation and that it leads the way on Capitol Hill and in the corridors of Washington to keep homeownership a top national priority. The association's support for the mortgage interest deduction and other federal policies helps to keep housing more affordable and make it a better investment, enabling more buyers than ever before to move into a home of their own.
"All those needing to sell or buy real estate should keep in mind that it is truly more responsible on their own behalf to consult and use the services of a local Realtor at all times, especially with all of the required and sometimes complex disclosures. You'll be miles ahead and place more money into your pockets in the long run using a professional Realtor for every transaction," Klippel said.
In a recent survey more than two-thirds of home sellers said they are more likely to select a salesperson who is a Realtor, while 63 percent of homebuyers say the same thing. Sixty-three percent of sellers feel that Realtors are the best qualified to promote the sale of their home, and almost 60 percent of homebuyers say Realtors are the best qualified to help buyers find the home that meets their needs.
Realtor Thomas J. Nelson with Cashin Company describes the difference by saying, "A Realtor is to an agent as Xerox is to a photocopier." He believes the general public generally thinks all sales agents are Realtors and doesn't understand that Realtor is a designated and copyrighted term.
One of the biggest benefits of having the Realtor designation is the amount of information available to Realtors, including access to two trade magazines that only members receive, said Nelson. In addition, weekly Board of Realtors meetings and the receipt of sales, legal and political updates every week keep Realtors abreast of the latest trends and developments in the market.
"The benefits are numerous, including membership with like-minded professionals, information, our political lobby and the overall support we have backing us," Nelson said.
Douglas Lower, a Realtor with Reliance Realty, said the ads on TV and radio help people think about what services add value to their sale. "The Realtor term gives added credibility in my mind as a strong description of our function. It also denotes long-term professionalism and identity," Lower said.
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