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Not all real estate agents are "Realtors". A REALTOR is a real estate agent or affiliated real estate professional who is a member of the NATIONAL ASSOCIATION OF REALTORS, called NAR for short. Founded in 1908, NAR consists of approximately 720,000 members. NAR is composed of residential and commercial REALTORS, who are brokers, salespeople, property managers, appraisers, counselors and others engaged in all aspects of the real estate industry. Members belong to one or more of some 1,700 local associations/boards and 54 state and territory associations of REALTORS.

REALTORS are located in all parts of the world. When agents become REALTORS they must agree to conduct their business in a way that adheres to the NAR's Code of Ethics. The REALTOR code covers ethical requirements that deal with all aspects of the job, from working with consumers and fellow agents to writing truthful advertising.

REALTOR can file complaints against each other and the organization accepts complaints from consumers. Complaints can affect membership status and fines can be levied against agents who are found guilty of wrongdoing by a multi-member panel of their peers. The organization does not have the ability to suspend real estate licenses-that action can only be accomplished by the real estate licensing commission that granted it. Licenses in the US are granted by each state.

All licensed agents are required to take continuing education courses approved by their state licensing boards. To retain membership in the NAR, REALTORS are required to take additional continuing ed classes, often focusing on ethical work habits and other consumer protection topics.

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