The National Association of Realtors , whose broker members are known as realtors (are members of the so-called Realtor associates), are the North Trade Association America for those who work in the real estate industry. It has over 1.1 million members, including agencies, communities, and NAR boards, which are involved in all aspects of the residential and commercial real estate industry. NAR also serves as a self-regulatory organization for real estate brokers. The organization is headquartered in Chicago.
Video National Association of Realtors
Overview
The National Association of Realtors was founded on May 13, 1908 as the National Association of Real Estate Exchanges 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 1972.
NAR members are residential and commercial real estate brokers, real estate sellers, fixed property managers, appraisers, counselors, and others involved in all aspects of the real estate industry, where a state license for practice is required. Members become members of one or more than about 1,600 local Realtor councils or associations. They were promised a code of ethics and standards of practice, adopted in 1913.
The National Association of Realtors is also a member of The Real Estate Roundtable, a lobbying group in Washington, D.C.
Maps National Association of Realtors
Trademark
The use of the term "realtor" was first proposed by Charles N. Chadbourn, in an article in the National Real Estate Journal in March 1916. Chadbourn, then a real estate agent in Minneapolis and vice president of the National Association of Real Estate Councils , writes "I propose that the National Association adopt a professional title to be given to its members which they will use to distinguish them from outsiders, that this title is copyrighted and defended by the National Association against misuse... Therefore, I propose that the Association National adopted and conferred on its members, dealers in realty, the title of
In 1949, the National Association of Real Estate Boards gained US registrations no. 515,200 for "Realtors" as collective trademarks for real estate brokerage services. In 1950, he obtained his second enrollment, registration no. 519.789, for "Realtor", in the same field. Since then NAR has been enrolled for terms in areas such as electronic lock boxes, clothing, and jewelry.
Registrations 515,200 and 519,789 have experienced a number of cancellation processes:
- In June 1998, Arleen Freeman, a real estate agent who used to be a NAR member, filed a petition with the US Patent and Trademark Office (USPTO) to cancel both registrations. In June 2002, the USPTO Trademark Application and Application Board (TTAB) stated that, since Freeman is a former member of the NAR and a trademark license holder, he was required to cancel the proceedings under the licensing doctrine of estoppel.
- In November 2001 Jacob Zimmerman, a non-NAR student, petitioned the USPTO to cancel registration, arguing that "Realtors" and "Realtors" are generic terms of the trademark. On March 31, 2004, TTAB rejected the petition, finding out earlier evidence that the term was not generic.
- In March 2015, Jeffrey Schermerhorn filed a petition to cancel registration 519,789. Schermerhorn suspected fraud under Torres v. Cantine Torresella Srl as well as genericness, arguing that "Social Media like Facebook, Twitter, Linkedin, Instagram and Google Plus" provides additional generic useless proof that is not available at Zimmerman continuing. On March 30, 2016, TTAB granted the NAR petition to refuse a petition on the ground that Schermerhorn, who had been a member of the NAR and the licensee at the time of his appeal to cancel, was also excluded from challenging the mark.
NAR System and Multiple Listing Service (MLS)
NAR organizes hundreds of Local Multiple Sign Up Services (MLS) which is an exchange of information used throughout the country by real estate brokers. (However, there are many MLS that are independent of the NAR, although membership is usually limited to licensed brokers and their agents; MLSPIN is an example of one of the larger independent MLSs in North America.)
Through complex arrangements, NAR set policies for most of the Multiple Listing Service, and in the late 1990s, with the growth of the Internet, NAR developed regulations enabling the Internet Data Exchange (IDX) where brokers would allow some of their data to be viewed on the Internet via broker or agency websites and Virtual Office Websites (VOW) that require potential buyers to sign up for information.
This policy allows participants - whether they are single individuals or large regional companies - to limit access to some or all MLS data by individual brokers (whether they are brokers operating on the Internet or local competitors only). In 2005, it encouraged the Justice Department to file an antitrust lawsuit against NAR accusing its MLS rules regarding this type of limitation on the data display is a product of a conspiracy to withhold trade by excluding brokers using the Internet to operate. different from traditional brick-and-mortar brokers. (For a description of the DOJ action, see Anti-trust Case Filing for the US v. National Association of Realtors.) Meanwhile, real estate trends such as expanded consumer access and the Internet consolidate existing local MLS organizations into in MLS systems across states or regions, such as in California and Virginia/Maryland/Washington DC's Metropolitan Regional Information Systems.
In response to this case, NAR has proposed to install an Internet List View system that will not allow participants to exclude individual brokers (whether of brick-and-mortar or solely internet-based) but requires blanking op-in of < i> all other broker ' sites. This system becomes an IDX system. Although IDX allows the public to view MLS listings, it still needs the broker list information to be placed on the list each where it appears (the brokers legally "own" their broker list), to prevent misinformation of lists, and to place accountability for information about brokers like which is determined by law.
Antitrust allegations were resolved in May 2008. The agreement mandates that all Multiple Listing Service systems allow access to Internet-based competitors. NAR will be required to treat online brokers just like traditional brokers and can not exclude them from membership because they do not have a traditional business model. NAR acknowledges no mistakes, and does not pay fines or damages as part of the deal. The settlement will not be formal until a federal judge formally approves it, most likely in 2008. While the NAR general adviser believes that the settlement will have no effect on commissions paid by the general public, a business professor at Western Michigan University predicts that increased competition will lead to 25 to 50 percent decrease in commissions.
Other major anticompetitive practices are supported (indirectly) by various state laws that prohibit the "commission" of commissions with unlicensed individuals. In the broad interpretation, this is considered to prevent the purchaser agent to give credit to their buyers of the commission received. Currently, there are 10 states where real estate agents and brokers are prohibited from offering home buyers or sellers of cash rebates or prizes of any kind with a cash value of over $ 25. The various Realtors in those states have managed to champion this interpretation at the countries that now allow practice (especially, Patrick Lea, Realtor in Ohio, and many agents in Kentucky). The Kentucky case was finally tried with the US Department of Justice as a plaintiff and the Kentucky Real Estate Commission as a defendant.
Lobby
NAR uses substantial strength as a lobbyist organization. Since 1999, NAR has spent more than $ 99,384,108, and spent $ 22,355,463 in 2011 alone. It has been consistently rated among the largest Political Action Committee in the United States.
In the year 2016, the Responsive Political Center puts the National Association of Realtors the second biggest hurdle in the lobby after the US Chamber of Commerce. NAR spends $ 64,821,111 in 2016.
On total expenditure, the largest share - 46% - has gone to Republicans, and 30.8% has been given to Democrats. The main political issues for this group revolve around the federal de-regulation of the financial services industry.
Activate subprime mortgage crisis
Some experts believe that Brokers and Realtors bear at least part of the responsibility for the subprime mortgage crisis, deliberately inflating the perceived home market value, and then encouraging buyers to take on a larger mortgage than necessary. The theory is that collusion with mortgage lenders allows realtors to earn commissions in large amounts on borrowed money for an increased home value without risk to realtors. Many victims feel that home buyers are tricked into taking larger loans to buy more expensive homes, and higher sales prices pay more real estate commissions. Interestingly, this practice is not considered "unethical" by NARs who claim to be self-regulatory organizations; However, the obvious implications indicate the widespread and substantial damage provided to the public. Many victims are pushing the Securities and Exchange Commission to start aggressively organizing agents and returning overpayments to home buyers.
Antitrust lawsuits
In 2005, the US Department of Justice filed an official complaint against the National Association of Realtors for violating Part 4 of the Sherman Antitrust Act. The complaint seeks to urge the National Association of Realtors "from maintaining or enforcing a policy that withholds competition from brokers who use the Internet to more efficiently and cost effectively serve home sellers and buyers, and from adopting other related anticompetitive rules.
DOJ challenged MLS NAR rules that hinder competition from internet-based brokers. On November 18, 2008, the Court entered the Final Decision approving the settlement of the NAR. Under the Final Decision, NAR approves the policies that the United States opposes and replaces those policies with rules that do not discriminate against brokers using the Internet to provide cheap brokerage services to consumers.
In 2012, American Home Realty Network, Inc. NeighborCity operators filed an antitrust counter-claim in response to a pair of copyright lawsuits, alleging that "the copyright lawsuits filed against him by two dual listing services with financial support from the National Association of Realtors are part of a joint effort by NAR to push the company out of business and eliminate it as a service provider for real estate brokers. "The counter claims also allege that the stated copyright was never properly registered. In the case of Minnesota, which read out a claim against the NAR but did not directly name the NAR as a defendant, AHRN submitted a second modified reply statement adding Edina Realty and Home Services of America as Counter-Defendants in antitrust and unfair competition claims. Edina Realty is a subsidiary of HomeServices of America, Inc., a Berkshire Hathaway company, which owns real estate brokers in countries across the country, including Minnesota, Maryland, North Carolina, Georgia, Washington, Oregon, Arizona, Rhode Island, Connecticut , Iowa, Nebraska, Ohio, Illinois, Kansas, South Carolina, Missouri, Pennsylvania, Indiana, Kentucky, Alabama, and California. Earlier in 2012, several midsize services list Metropolitan Metropolitan Information Systems, Inc. (MRIS) and St. Paul, Multi-Area Listing Service from Minnesota Inc. (NorthstarMLS) filed a copyright claim against NeighborCity. The National Association of Realtors says it will provide financial support for legal spending by NorthstarMLS and MRIS.
Specialization
Needs of NAR education and a recognized designation
Realtors, as NAR members, also have the option of studying for additional certification in a variety of specializations, some of which are supported by NARs with nationwide certification offerings and renewal courses.
The most referrals to NAR sponsors are as follows:
- Accredited Buyer Representative (ABR). Realestat Buyer Agency Board has more than 40,000 members and is the largest real estate professional association that focuses on all aspects of buyer representation. Of REBAC members, over 30,000 have completed the two-day REBAC course and provide documentation of buyer agent experiences. Connected to ABR is ABRM, Accredited Buyer's Representative Manager (ABRM) for managers.
- Accreditation Land Consultant (ALC). ALC's are specialists in land broker deals, including livestock and livestock, sales and development of raw fields.
- Certified Commercial Investment Member (CCIM). CCIMs is a specialist in the field of commercial real estate brokers, leasing, valuation and investment analysis. There are more than 7,500 appointed people and equal number of candidates mainly in North America, but also in Asia and Europe.
- Certified Property Manager (CPM). Geared for real estate property management specialists, designers handle all forms of management ranging from residential to commercial to industrial.
- Certified Real Estate Broker Manager (CRB). Appointment is given to realtors who have completed the sophisticated education and professional requirements of the Council.
- Certified Residential Specialist (CRS). CRS Designees earns an average income of $ 85,000 annually, almost 3 times the $ 29,400 in average revenue from realtors who serve as sales partners. They also average a total of 21 transactions per year with gross sales of $ 3.2 million. Requirements for this appointment include a total of at least 25 transactions (or a specified sales volume) over a period of time, and significant experience, as well as educational requirements.
- Certification for Internet Professionalism (e-Pro). E-Pro is a Realtor who has undergone a new training program that is presented entirely online to be certified as an Internet Professional. NAR is the first major trading group to offer certification for online professionalism that involves all aspects of doing business on the internet. This is not a name but a NAR sponsored certification.
- Certified International Property Specialist (CIPS). Realtors with CIPS designation have direct training and experience in international real estate transactions, Whether traveling abroad to conduct joint transactions, assisting foreign investors, helping local shoppers invest overseas, or serving immigrant niches in the local market. CIPS designees have also completed courses that focus on important aspects of transnational transactions, including currency and exchange rate issues and cross-cultural relations, regional market conditions, investment performance, tax issues and more. The CIPS network consists of 1,500 real estate professionals from 50 countries.
- Real Estate Advisor (CRE). Designee CRE is one of only 1,100 by-invitation-only members of professional international groups who provide experienced and objective advice on real property and land-related matters.
- Graduate of the Realtor Institute (GRI). GRI Determination is held by 19% of Realtors and courses offered through the state Realtor association with 90 hours of courses on marketing and servicing of property registered to real estate law. In a 2003 survey, NAR has determined that GRI earns more than $ 33,200 more per year than non-design.
- Professional Assistant Real Estate (REPA). Designed for administrative or administrative assistants Realtors (who may or may not hold real estate licenses), a two-day certificate course provides an intensive introduction to the real estate business and for a particular way support staff can be a valuable asset to their employers.
- Elderly Landscape Specialist (SRES). The SRES is a designation for realtors to address the needs of 50-plus home buyers, the largest and wealthiest buyers group in the country. SRES is the board of REBAC, a wholly owned subsidiary of the National Association of Realtors.
Consumer reach
NAR launched HouseLogic.com in February 2010 in an effort to reach consumers directly for the first time. In addition to building ties with consumers, the purpose of this site is to provide education - with many commercial interests - to consumers about investing in their homes.
NAR produced the radio show Real Estate Today , which was distributed by Westwood One.
Other national real estate associations
- Canadian Professional Accredited Mortgage Association
- Canadian Real Estate Association
- National Housing Agent Association
- National Real Estate Brokerage Association
See also
- Real estate broker
- Real estate trends
- Property agent
- List of real estate topics
- the housing bubble of the United States
- Housing Affordability Index
References
External links
- Official website
Source of the article : Wikipedia
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