- Real estate agents must be licensed through their state's accrediting board. Once most agents are licensed, they apply to become members of the National Association of Realtors® (NAR). Only real estate agents who are NAR members may use the Realtor® designation. The NAR is the largest trade association in the world with over 1.3 million members as of 2009. Founded over 100 years ago, it requires its members to adhere to a standard code of ethics. To apply for membership into NAR, real estate agents must hold an active real estate license and pay an annual membership fee.
- The NAR offers its Realtors special marketing opportunities and membership benefits. Realtors have access to unique technology and marketing tools, such as the Realtor Benefits® Program. This program provides Realtors with consumer-driven on-line resources, such as REALTOR.com®. Realtor.com is an online repository of available property listings. It is the number one site for all home and rental sales, and over six million individuals visit this site per month.
- In order to post listing information on Realtor.com, agents must be granted specific access to use the site, upload listings, and obtain current, real-time information on rental amounts and other contract information, such as the landlord's rental requirements and expectations. Realtor.com uses the Multiple Listing Service or MLS electronic database. The MLS system is a repository of listing information that allows brokers and agents to access and disseminate listing information. Only certain groups of real estate industry professionals have access to this site, such as large brokerage firms. However, Realtors are provided unlimited access to this site. Realtors may upload information, photos and even virtual tours to package the rental property in an appealing manner as a marketing plan.
- Realtors may offer property management services for owners who are relocating to a different area or investment owners who own multiple properties. For a negotiated fee, these property management services may consist of replacing tenants, renegotiating leases, and providing upkeep for landscaping and even the home's exterior. This provides the owner with the assurance that the property is well-maintained and continuously occupied, if possible.
Property managers may help you through legal processes, such as evicting tenants who aren't making timely rental payments or helping owners understand the nuances of the local, jurisdictional landlord-tenant laws and fair housing standards. - Realtors may place "rental" or "for rent" yard signage on your property. Brokerage firms use standard signs that the public can easily identify. Most brokerage firms charge a percentage of the home's monthly rental price (50 percent) as their fee.
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