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National Association of Realtors, NAR |
| | The National Association of Realtors (NAR) is one of the largest trade associations in the US with a strong membership of over 1.3 million realtors. Established on May 12, 1908 under the name “National Association of Real Estate Exchanges in Chicago, Illinois, with just 120 founding members, it has gone through a lot of changes over the years. In the year 1916, it was renamed as National Association of Real Estate Boards, which again was changed in 1974 to its present name, “National Association of Realtors”. In the year 1913, the Code of Ethics was adopted, which in later years have become the driving force to ensure fair practices in real estate transactions throughout the US.
The idea behind the creation of a national realtors association was to bring unity among the professional real estate people of America, to provide knowledge, facilities and technical know-how and to give a homogeneous shape to the real estate industry all through the country. In order to maintain the right to own real estate property and to ensure free enterprise system, the national realtor association has provided a forum among its members and also to the general public and government for exchange of information, research and professional development. The basic aim of NAR is to safeguard the interests of real estate professionals as well as property owners by making it mandatory for its members to strictly follow the National Association of Realtors Code of Ethics in every real estate transaction.
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NAR's membership is open to residential as well as commercial real estate professionals, which may include real estate brokers, property managers, salespeople, counselors, appraisers, and all those engaged in various aspects of real estate industry in the US. Only after becoming a member of the National Assoc of Realtors, a real estate professional, besides availing several other benefits, is entitled to use the terms 'realtor' or 'realtors' for commercial purposes as they are the registered trademarks of the association. To take membership of National Board of Realtors, one needs to join his/her local real estate board first. Afterwards, the membership can gradually be extended to state association and finally to the national association.
There are about 1,700 local associations or boards and 54 state associations under the umbrella of the national realtor association. The NAR website contains a complete listing of all these boards/associations. You can either search its websites or send an email containing your name, address, fax and phone number to find your local board or association. Membership to NAR is meant for the growth of your business and hence, you are provided with cutting edge information, which is exclusive to its members only. National Association of Realtors also take care of your educational needs and run several certification programs for specialization in collaboration with industry leaders. Check out National Board of Realtors' website to know more about these educational programs.
There are many institutes, councils and societies that have been promoted by National Association of realtors to cater to different segments of real estate industry. These are
- Women’s Council of Realtors
- Institute of Real Estate Management
- Realtors Land Institute
- Society of Industrial and Office Realtors
- Council of Real Estate Brokerage Managers
- Counselors of Real Estate
- Council of Residential Specialists
- Commercial Investment Real Estate Institute
- Real Estate Buyer’s Agent Council
- Certified International Property Specialists Network (CIPS)
- Realtors Commercial Alliance
The tasks of National Board of Realtors include collecting statistical data through surveys and preparing reports after careful analysis and much study and research. The various statistical reports that appear on regular basis in NAR magazine and websites include Existing Home Sales Series, Pending Home Sales Index, NAR Housing Affordability Index, Metropolitan Area Prices etc. National Board of Realtors also organizes annual NAR conventions, conferences and expos in which members are invited to participate. Consumers can log on to Realtor.com, NAR's official website, to find real property or a home anywhere in the US. This website is instrumental in exchanging information among real estate brokers across the nation. Another website Realtor.org offers information and services to the realtors, which may include HUD forms, real estate industry news and online registration for the annual convention. Following are the contact details of NAR:
NATIONAL ASSOCIATION OF REALTORS
Headquarters: 430 North Michigan Avenue,
Chicago, IL. 60611-4087
DC Office: 500 New Jersey Avenue, NW,
Washington, DC 20001-2020
1-800-874-6500
Websites: http://www.realtor.org/
http://www.realtor.com/
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