Many people mistakenly think that all you have to do to sell a home is put up a sign, place an ad online, and it will sell - then you file a few forms with the county, and that's all there is to it! Anyone who has been through the process knows it involves much more than that. There are plenty of areas where a transaction - and even the words used in an ad - can run afoul of the law. This can place the buyers and sellers in real legal jeopardy. A REALTOR® is a professional - like a doctor, lawyer, or architect, who knows exactly how to make all the pieces fit together so you can get the job done, and done right! And it pays to know the difference.
Being a REALTOR® means that you have gone above and beyond what your state requires to get a state issued real estate license, and have committed to an industry that helps people navigate through the biggest purchases of their lives, and to do so ethically, with responsibility to the clients, and in the advancement of protecting the homeowners both in the process, and in their investment. Using a REALTOR® means that you hold your standards and practices for your industry above all else for the benefit of the consumer.
REALTORS® subscribe to a Code of Ethics - Ethics that call for responsible use and protection of the land, and the opportunity for the widest distribution of ownership of the land - so that we may all benefit from its responsible use personally, professionally, and publicly.
You can read our Code of Ethics HERE, or You can listen to the Preamble and each separate Article of our Ethics HERE (Total time is less than 11 minutes)
At the Greater Los Angeles REALTORS® we also hold a unique distinction, as our organization was part of the original founding group of the National Association of REALTORS® (NAR) in 1908, along with the California Association of REALTORS® (C.A.R.) in 1905.
The Los Angeles Real Estate Exchange was founded in 1903 - as an attempt to ensure honest, respectable, and common business practices between real estate professionals, to ensure an honest transaction, and a protection for client purchases and investments. 2 years before C.A.R., 5 years before NAR, and 14 years before California passed the first law in the country requiring a real estate license.
Over a century later, the Greater Los Angeles REALTORS® (GLAR) remains committed to those ideals. Now with more than 11,000 REALTOR® members service the communities of Beverly Hills, Culver City, Los Angeles, Santa Monica, and West Hollywood - GLAR is stronger than ever, and proud to be a part of our community.
About Real Estate in California
California Bureau of Real Estate (CalBRE) - oversees the regulation of the practice of real estate in California, issues licenses, and administers the standards to practice real estate as prescribed by the California Legislature.
CalBRE is overseen by the California Department of Consumer Affairs.
The laws governing the practice of real estate can be found HERE.
Knowing the Difference Between a REALTOR®, a Broker, a real estate agent, and other terms
Real Estate Agent - Someone who has met the requirements of their state real estate department, bureau or commission, and passed the appropriate tests to broker real estate. Someone who has passed the Sales or Broker Associate (Not something done in California, but is done in other states) test must conduct business with the assistance of a Broker.
REALTOR® - A licensed real estate professional that helps members of the public navigate the home and property buying process. REALTORS® are members of the local, state and National Association of REALTORS® and subscribe to the NAR Code of Ethics.
Broker - A licensed real estate professional that is able to conduct real estate transactions by themselves, and is able to oversee Agents, Salespersons, and Broker Associates. Some Brokers may also choose to work for another Broker as well.
Real Estate Salesperson - Another term used for a Real Estate Agent
Associate Broker - Some states do not offer a real estate sales license, but instead offer different standards for an associate broker - someone who works under a licensed real estate broker.
REALTOR.com has included some additional information on real estate terms in their "find REALTORS" section to help consumers better understand the real estate industry and process.
