The term REALTOR® must refer to:

The term REALTOR® specifically refers to a real estate professional who is a member of the National Association of REALTORS® (NAR). This membership implies adherence to the ethical guidelines and standards established by the NAR, which distinguishes them from non-member real estate agents or companies.

REALTORS® have access to certain resources, networking opportunities, and professional development offered by the association, which non-members do not enjoy. Thus, when you see the term REALTOR®, it designates an individual or a company that is part of this organization, aligning them with a code of ethics and professionalism that is widely recognized in the real estate industry.

The other options do not accurately reflect the criteria for the term; a non-member company, any real estate business, or any business entity do not hold the same designations or responsibilities as a member of the NAR. Therefore, understanding that the term REALTOR® is exclusively tied to NAR membership is crucial for recognizing the legitimacy and qualifications of those who use it in their business practices.