REALTORS® in Guam are represented by a professional organization, namely "GUAM ASSOCIATION OF REALTORS®".
Value of REALTORS®…Why Use One
The term REALTOR® is not a generic term; it is a registered collective membership mark that identifies a licensed real estate professional who is a member of the Guam Association of REALTORS®. The term REALTOR® is NOT synonymous with "real estate agent."
Today’s home sales involve dozens of steps to complete the transaction. REALTORS® work through the real estate transaction process daily and know how it affects the interests of their clients and customers. REALTORS® know how to position a home for sale, negotiate contract terms, manage inspections and ensure a smooth settlement.
There are about 1.2 million REALTORS® in the U.S., that work in both residential and commercial real estate as brokers, salespeople, property managers, appraisers, counselors and others engaged in all aspects of the real estate industry.
The Code is a comprehensive document spelling out professional responsibilities owed to clients, customers, other REALTORS® and the general public. All REALTORS® must take comprehensive training on the National Association of REALTORS® Code of Ethics every four years to retain their membership. NAR adopted its Code of Ethics in 1913 and was only the second trade or business group in the U.S. to adopt mandatory ethical standards.
- REALTORS® bring value to home buyers, sellers and investors.
- REALTORS® have access to advanced educational opportunities and training in both residential and commercial real estate specialties.
- REALTORS® are industry innovators who have harnessed the power of the Internet to better serve consumers and have helped bring real estate technologies into the home buying and selling process to facilitate and streamline today’s real estate transactions.
- REALTORS® are the most trusted resource for real estate information.
- REALTORS® know what matters to buyers and sellers in your area. They have the expertise and experience to help sellers protect their investment and help buyers build theirs.
- REALTORS® have unparalleled knowledge of local market conditions and can leverage that expertise to help their clients reach their real estate goals.
- Working with a REALTOR® gives buyers, sellers and investors the advantage they need to succeed in today’s market. REALTORS® help people buy and sell hundreds of homes over the course of their careers.
Difference between Real Estate Agents and REALTORS®
REALTORS® are different from real estate licensees in that they voluntarily subscribe to a strict Code of Ethics.
If you believe that a REALTOR® has violated one or more Articles of the Code of Ethics, you can file an ethics complaint alleging a violation(s) through the Guam Association of REALTORS® where the REALTOR® holds membership.
In addition, REALTORS® agree as a condition of membership to arbitrate contractual disputes and specific non-contractual disputes as provided for in Article 17 of the NAR Code of Ethics.
“In the event of contractual disputes or specific non-contractual disputes as defined in Standard of Practice 17-4 between REALTORS® (principals) associated with different firms, arising out of their relationship as REALTORS®, the REALTORS® shall submit the dispute to arbitration in accordance with the regulations of their Board or Boards rather than litigate the matter.
In the event clients of REALTORS® wish to arbitrate contractual disputes arising out of real estate transactions, REALTORS® shall arbitrate those disputes in accordance with the regulations of their Board, provided the clients agree to be bound by the decision.
The obligation to participate in arbitration contemplated by this Article includes the obligation of REALTORS® (principals) to cause their firms to arbitrate and by bound by any award.” (Amended 1/01)
If, after discussing matters with the REALTOR® (Sales Associate or Broker) in that firm, you are still not satisfied, you may contact the Guam Association of REALTORS® in taking steps to file your grievance.In doing so, please keep in mind of the following…
- Only REALTORS® and REALTOR-ASSOCIATE®s are subject to the Code of Ethics of the National Association of REALTORS®.
- If the real estate professional (or their broker) you are dealing with is not a REALTOR®, your only recourse may be the state real state licensing authority or the courts.
- Boards and associations of REALTORS® determine whether the Code of Ethics has been violated, not whether the law or real estate regulations have been broken. Those decisions can only be made by the licensing authorities or the courts.
- REALTORS® are the most trusted resource for real estate information.