Why use a REALTOR ?
A REALTOR is a term used throughout much of the world to identify a real estate professional practitioner. A REALTOR has the training and education to make sure that there is security, scrutiny and precision in each real estate transaction for all parties.
To compare what a REALTOR actually is I would like to offer other career comparisons. A ‘REALTOR™’ differs from a real estate agent like how an ‘accountant’ compares to a ‘book keeper’ or how a ‘architect’ could be compared to an ‘engineer’. All of these are good quality professions, it is just that some require more training and education than others.
A ‘REALTOR’ is a member of the ‘National Association of REALTORS’. The ‘NAR’ has its headquarters in Chicago, Illinois, in the United States of America but has member organizations worldwide, it is truly International in scope. It, as an organization, provides web access to its membership for training and education and assists local organizations in as many as 59 countries worldwide. NAR also sets the standards in education and ethics Internationally.
Being a REALTOR here in Honduras means that you are a member of ‘National Association of REALTORs’ International and abide by a strict code of ethics of the Honduran Real Estate Chamber, (CANABIRH).
A REALTOR has the ability to research, check and have all parts of what is needed to make sure the transaction is transparent in all ways, to all parties. A REALTOR gathers the ‘correct information’ needed to list, market, sell and professionally assist Buyers and Sellers to a complete and secure transaction.
NAR Realtor Pledge
REALTORS® are real estate professionals who have chosen to join the National Association and abide by its strict Code of Ethics.
What does this mean to you? It means that any REALTOR® with whom you work has voluntarily agreed to abide by a Code of Ethics, based on professionalism and protection of the public.
REALTORS® are subject to disciplinary action and sanctions if they violate the duties imposed by the Code of Ethics. The Code of Ethics is a detailed document that spells out the professional responsibilities of every REALTOR®. Do not hesitate to ask a REALTOR® for a copy of the Code, including the Standards of Practice. The Code is your assurance of dealing with a professional who has your best interests in mind. The Code of Ethics consists of seventeen Articles and related Standards of Practice. The basic principles of the Code are summarized below. Please note that the following is not a substitute for the Code, but simply a general overview of the Code’s key principles. For additional information about the Code of Ethics and its enforcement, speak with a REALTOR® or contact the local association of REALTORS® nearest you.
Duties to Clients and Customers
Article 2- REALTORS® refrain from exaggeration, misrepresentation, or concealment of pertinent facts related to property or transactions.
Article 3 -REALTORS® cooperate with other real estate professionals to advance their clients’ best interests.
When buying or selling on their own account or for their families or firms, REALTORS® make their true position or interest known.
Article 6 -REALTORS® disclose any fee or financial benefit they may receive from recommending related real estate products or services.
Article 7 -REALTORS® receive compensation from only one party, except where they make full disclosure and receive informed consent from their client.
Article 8- REALTORS® keep entrusted funds of clients and customers in a separate escrow account.
Article 9 -REALTORS® make sure that contract details are spelled out in writing and that parties receive copies.
Duties to the Public
Article 10- REALTORS® give equal professional service to all clients and customers irrespective of race, color, religion, sex, handicap, familial status, or national origin.
Article 11- REALTORS® are knowledgeable and competent in the fields of practice in which they engage or they get assistance from a knowledgeable professional, or disclose any lack of expertise to their client.
REALTORS® paint a true picture in their advertising and in other public representations.
REALTORS® willingly participate in ethics investigations and enforcement actions.
Article 15 -REALTORS® make only truthful, objective comments about other real estate professionals.
Article 16- Respect the exclusive representation or exclusive brokerage relationship agreements that other REALTORS® have with their clients.
Article 17- REALTORS® arbitrate financial disagreements with other REALTORS® and with their clients.
NATIONAL ASSOCIATION OF REALTORS®