Which of the following best describes the term REALTOR®?

The term REALTOR® refers to a member of the National Association of REALTORS® (NAR), which signifies a mark of high integrity and competency in business relations. This designation indicates that the individual adheres to a strict code of ethics and professional standards, which goes beyond what is legally required in the real estate profession. REALTORS® are committed to upholding integrity, honesty, and fairness in their dealings, ensuring a professional approach in all transactions.

The other options do not accurately encapsulate what a REALTOR® represents. For example, the idea that a REALTOR® only sells residential properties is misleading, as they can work in various segments of real estate including commercial and industrial properties. Suggesting that the title is granted to anyone in the real estate industry overlooks the specific ethical obligations and membership requirements mandated by the NAR. Additionally, stating that only real estate agents with more than five years in business can be REALTORS® fails to recognize that anyone, regardless of their years in the field, can become a REALTOR® as long as they meet the necessary criteria and adhere to the NAR's standards.