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REALTOR - It the registered trademark of the National Association of Realtors. The designation is given to a real estate broker or sales associate who is a member of a board associated with the National Association of Real Estate Boards. By becoming a Realtor one must subscribe to a strict Code of Ethics in conducting any and all Real Estate business. A licensed real estate agent is not a Realtor unless they join the national association and abide by its Code of Ethics. A Realtor who is not the broker/owner works under their real estate broker's supervision.