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Most people believe that those two terms can be used interchangeably. However, they do not carry equal significance for property buyers and sellers. The term REALTOR® is a Registered collective membership mark that identifies a real estate professional who is a member of the National Association of REALTORS® (N.A.R.) and subscribes to it's strict Code of Ethics. Since 1908 the N.A.R. has been working toward improving the benefits of home ownership. The National Association of REALTORS® is the world's largest professional association. Although there are approximately 2.6 million real estate licensees, only about 60% of them are REALTORS®. When buying or selling a home, be sure to only work with a REALTOR®.