Illinois License Law
What is the 'REALTOR' designation and how does it differ from 'real estate agent' in Illinois?
AThey are identical terms; all licensed agents are Realtors
BA REALTOR is a licensed agent who is also a member of NAR and their local board, bound by the NAR Code of Ethics; not all agents are Realtors✓ Correct
CREALTOR is the legal term; real estate agent is an informal term
DREALTORs have additional licensing requirements beyond the Illinois license
Explanation
REALTOR is a trademark term referring to real estate licensees who are members of the National Association of Realtors (NAR) and their state and local associations. Members must adhere to NAR's Code of Ethics. Not all licensed Illinois real estate agents are Realtors—membership is voluntary. However, many MLS systems require NAR membership, effectively making it necessary for most practicing agents.
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