National Association of Realtors

The National Association of Realtors (NAR), whose member brokers are known as Realtors member agents are known as Realtor associates, is the largest trade association and one of the most powerful lobbying groups in North America, having spent more than $99 million between 1999 and 2012. It has over 1.1 million members, including NAR's institutes, societies, and councils, involved in all aspects of the residential and commercial real estate industries. NAR also functions as a self-regulatory organization for real estate brokerage. The organization is headquartered in Chicago.

Overview

The National Association of Realtors was founded on May 13, 1908 as the National Association of Real Estate Exchanges, the founding group being located 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 1974.

NAR's members are residential and commercial real estate brokers, real estate salespeople, immovable property managers, appraisers, counselors, and others engaged in all aspects of the real estate (immovable property) industry, where a state license to practice is required. Members belong to one or more of some 1,600 local Realtor boards or associations. They are pledged to a code of ethics and standards of practice, which was adopted in 1913.

Service

Service may refer to:

Acts of service

Religion

Service (economics)

In economics, a service is an intangible commodity. That is, services are an example of intangible economic goods.

Service provision is often an economic activity where the buyer does not generally, except by exclusive contract, obtain exclusive ownership of the thing purchased. The benefits of such a service, if priced, are held to be self-evident in the buyer's willingness to pay for it. Public services are those, that society (nation state, fiscal union, regional) as a whole pays for, through taxes and other means.

By composing and orchestrating the appropriate level of resources, skill, ingenuity, and experience for effecting specific benefits for service consumers, service providers participate in an economy without the restrictions of carrying inventory (stock) or the need to concern themselves with bulky raw materials. On the other hand, their investment in expertise does require consistent service marketing and upgrading in the face of competition.

Characteristics

Service (business)

Business services are a recognisable subset of Economic services, and share their characteristics. The essential difference is that Business are concerned about the building of Service Systems in order to deliver value to their customers and to act in the roles of Service Provider and Service Consumer.

Service definition

The generic clear-cut, complete, concise and consistent definition of the service term reads as follows:

A service is a set of one time consumable and perishable benefits