We Are REALTORS^®

The National Association of Realtors (NAR), whose members are known as Realtors, is North America's largest trade association representing over 1.2 million members (as reported February 2008), including NAR's institutes, societies, and councils, involved in all aspects of the residential and commercial real estate industries. NAR also functions as a Self Regulatory Organization for real estate brokerage. In the United Kingdom, the equivalent is the NAEA.

The National Association of Realtors was founded on May 12, 1908 as the National Association of Real Estate Exchanges, the founding group being located in Chicago, Illinois. In 1916, the National Association of Real Estate Exchanges changed its name to The National Association of Real Estate Boards. The current name was adopted in 1974. NAR celebrates its centennial in 2008.

NAR's membership is composed of residential and commercial real estate brokers, real estate salespeople, immovable property managers, appraisers, counselors, and others engaged in all aspects of the real estate (immovable property) industry, where a state license to practice is required. Members belong to one or more of some 1,600 local Associations of Realtors and Boards of Realtors in the 54 state and territory Associations of Realtors. They are pledged to a code of ethics and Standards of Practice, which includes duties to clients, the public, and other Realtors.

Local Associations are required to enforce the Code of Ethics through a Professional Standards Council or Committee. Trained members of the Association form hearing panels charged with the responsibility of hearing testimony and evaluating evidence from complaints filed by the public or other members against Association members for alleged violations of the Articles of the Code of Ethics. If the panel finds the member in violation of an Article, disciplines recommended may be one or more of the following: a letter of warning or reprimand, educational courses, suspension or expulsion of membership, fines up to $5,000 and probation. All recommended disciplines by Professional Standards hearing panels are subject to the ratification by the Association Board of Directors before the discipline takes effect.