The National Association of Realtors, whose member brokers are known as Realtors, is a North American trade association for those who work in the real estate industry. It has over 1.1 million members, including NARs institutes, societies, NAR also functions as a self-regulatory organization for real estate brokerage. The organization is headquartered in Chicago, the National Association of Realtors was founded on May 13,1908 as the National Association of Real Estate Exchanges 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 1972. Members belong to one or more of some 1,600 local Realtor boards or associations and they are pledged to a code of ethics and standards of practice, which were adopted in 1913. The National Association of Realtors is also a member of The Real Estate Roundtable, the use of the term realtor was first proposed by Charles N. Chadbourn, in an article in the National Real Estate Journal in March 1916. That this title be copyrighted and defended by the National Association against misuse, I therefore, propose that the National Association adopt and confer upon its members, dealers in realty, the title of realtor. The association adopted the term the following year, at its convention in New Orleans in April 1916. In 1949, the National Association of Real Estate Boards obtained U. S. registration no.515,200 for REALTORS as a trademark for real estate brokerage services. In 1950, it obtained a second registration, registration no,519,789, for REALTOR, in the same field. NAR has since obtained registrations for REALTOR in such fields as electronic lock-boxes, clothing, the 515,200 and 519,789 registrations have been subject to a number of cancellation proceedings. In June 1998, Arleen Freeman, an estate agent who had formerly been an NAR member. Patent and Trademark Office to cancel both registrations, on March 31,2004, the TTAB denied the petition, finding on the evidence before it that the term was not generic. In March 2015, Jeffrey Schermerhorn petitioned to cancel the 519,789 registration, Schermerhorn alleged fraud under Torres v. Cantine Torresella S. r. l. The NAR governs the hundreds of local Multiple Listing Services which are the information exchanges used across the nation by real estate brokers and these policies allowed participants—whether they were individual one-person brokers or large regional companies—to limit access to some or all of the MLS data by individual brokers. This system became the IDX system, the antitrust lawsuit was settled in May 2008. The agreement mandates that all Multiple Listing Service systems allow access to Internet-based competitors, the NAR will be required to treat online brokers the same as traditional brokers and cannot exclude them from membership because they do not have a traditional business model. The NAR admitted no wrongdoing, and it paid neither fines nor damages as part of the deal, the settlement will not be official until a federal judge formally approves it, most likely in 2008
Logo of the National Association of Realtors.
National Association of Realtors building on New Jersey Ave, NW, Washington DC