For the public, the important difference is that all Realtors are bound by the Realtor Code of Ethics. In fact, Realtors have chosen to follow this strict code. And, if you have a dispute with a Realtor, you can come to the association with your concerns. Our members are subject to disciplinary action and sanctions if they violate the duties imposed by the Code of Ethics. The code is a buyer or seller’s assurance of dealing with a professional who has their best interests in mind.
A real estate licensee is not necessarily a Realtor. The New Jersey Real Estate Commission, under the Department of Banking and Insurance, provides real estate licenses to those who complete the prelicensing course and pass a rigorous examination. In order to use the term Realtor, the licensee must join the local Realtor Association, Middlesex County in our case, which also gives them membership in the New Jersey Association of Realtors and the National Association of Realtors, by way of the three-way agreement.
Last year, the Realtor Code of Ethics turned 100.
The Code of Ethics continues to set apart a Realtor apart from other real estate licensees, even 100 years after its adoption in 1913. A professional, ethical real estate community is critical to protect property ownership. Realtors affirm their commitment to the Code’s vision and remind buyers and sellers that Realtors strive for professionalism every day.
REALTOR® is a registered collective membership mark, which may be used only by real estate professionals who are members of the National Association of Realtors and wjp subscribe to its strict Code of Ethics.
(culled from www.businessdayonline.com)