Should I Join The NAR To Become A Realtor?
It is a question that every real estate agent faces at some stage of the career that whether it is worth joining NAR and choosing realtor as a career or not. Maybe it sounds like a long shot for a real estate agent as you’ve just earned the real estate license so why would you need to become a realtor?
There are different pros and cons of becoming a realtor, and we would like to tell you all about them so that you’ve got an idea before making a career-changing decision.
What is a Realtor?
People often mix up the concept of a real estate agent and a realtor, thinking that both are the same. But if you are in the real estate industry, you would definitely know the difference. A real estate agent is a person who has a license to sell or buy real estate, and a realtor is a real estate agent who has joined the National Association of Realtors (NAR).
NAR was founded back in 1908, and since then, it has become one of the most significant trade associations in the United States of America, with more than 1 million members. NAR represents commercial and residential real estate agents, and you can join any chapter of the organization. You have to pay the association dues and fill out a form to become a member of this organization.
Pros
Networking
By becoming a realtor, you join an organization having more than 1 million members all across the country, so now you’ve got a networking connection in almost every part of the country. Building a strong relationship with the other real estate agents can help you create a successful career in a few years. You will be able to access the MLS listings that are only available to NAR members which will give you leverage over your competitors in the area. You can find out exclusive details which aren’t available online regarding a property with the help of NAR MLS listings.
Reputation
In real estate, your image is quite vital because most of the clients create a perception of an agent in the first meeting. When you introduce yourself as a realtor, you create a unique identity for yourself as you are part of one of the most prominent trade associations in America.
With this introduction, the clients become aware of the fact that you are different from the other real estate agents. You will have a higher standard of ethics because you need to adhere to the rules and regulations of NAR. With the NAR behind your back, you can create a better image for yourself in every meeting and gain the trust of the clients much easier as compared to a real estate agent.
Support
National Association of Realtors continuously works towards protecting the rights of the realtors, and you would get great support from the realtor community by spending a bit of money in the form of the association fee.
If you have an issue, you can quickly contact the representatives of NAR and get the legal experts on board along with hundreds of thousands of NAR members ready to help you in every way they can.
The support of the local and national chapters of NAR would mean a lot when you’ve got a tax issue.
Your business would also benefit from this network as even if you have to move from one state to the other, you will instantly get the support of the local chapter of the NAR to reestablish your business.
If you want to buy or sell a property in any other state, you can contact the NAR members in that particular area and close the deal much quickly as compared to other real estate agents.
Special Discounts
There are several other benefits involved with being a recognized realtor, which includes different kinds of discounts on various products like property and insurances. You will be able to reach out to the NAR credit union, which will help secure a loan for your business and car more easily. There is also a possibility to collect a special realtor credit card. Corporations like FedEx, etc. have special discounts going on for the NAR members all year long.
Cons
Education
One of the biggest cons of becoming a realtor is that you will have to take additional courses. You may have just finished the real estate pre-license course if you are a newbie, and now you will have to pay the NAR which could be an added pressure.
All realtors are required to complete at least 2.5 hours of ethics training every 2 years. The continuing education course must meet specific learning objectives and criteria approved by the NAR.
In the end, you will be able to enjoy several benefits after you have joined the NAR, so you can take this pressure and convert it into something positive to kick-start a better career.
Cost
When you become a member of the National Association of Realtors, you need to spend some money as you have to pay association dues for the local and the international chapter. If you add up all the fees, you will have to spend hundreds of dollars in total. Not only do you have to pay for the initial registration fee, but you will have to keep paying on an annual basis to stay associated with the organization.
Bottom Line
Every real estate agent should strongly consider becoming a realtor. Although there is a substantial cost to join the NAR, you can think of it as an investment that you are making for getting connected to hundreds of thousands of realtors all across the country. You will have a reference in each part of the country, and you will have the support of an organization with more than 1 million members. You can quickly expand your business with such support, and you will have someone to trust if you have to face any kind of issue in the market or example tax issues. It is like having your own union in the market, and the only difference is that this union is much more powerful as compared to any other union. We think it is totally worth it to become a realtor.
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