Legal Definitions - NAR

NAR stands for the National Association of REALTORS®.

The National Association of REALTORS® (NAR) is the largest professional trade association in the United States for individuals involved in the real estate industry. Its members, who are specifically referred to as REALTORS®, adhere to a strict Code of Ethics and receive access to extensive resources, educational programs, and advocacy efforts. The NAR's primary mission is to promote and protect the interests of real estate professionals and property owners, fostering a strong and ethical real estate market.

• Example 1: Professional Development and Resources
  After obtaining her real estate license, David decided to join his local real estate board. By doing so, he automatically became a member of the state association and the National Association of REALTORS®. This membership granted him access to exclusive market data, professional development seminars, and networking opportunities with other REALTORS® in his area. This example illustrates how NAR provides valuable resources and a professional community for its members to enhance their careers.

• Example 2: Adherence to Ethical Standards
  A family looking to sell their home was interviewing several real estate agents. They specifically chose an agent who proudly displayed the REALTOR® logo, knowing that this designation meant the agent was a member of the National Association of REALTORS® and was therefore bound by a comprehensive Code of Ethics. This gave the family confidence that their agent would act with integrity and prioritize their best interests throughout the selling process. This demonstrates NAR's role in establishing and enforcing high ethical standards for real estate professionals.

• Example 3: Advocacy for Property Owners
  When a new city ordinance was proposed that would significantly increase property taxes for homeowners, the local chapter of the National Association of REALTORS® mobilized its members. They organized public forums, provided data on the potential negative impact on home values, and lobbied city council members, advocating on behalf of property owners to mitigate the tax increase. This highlights NAR's function as an influential advocacy group that works to protect property rights and promote favorable policies for real estate stakeholders.