Realtor
A registered trademark of the National Association of Realtors, referring only to a licensee who is a member, not to every licensee.
Realtor is a registered trademark of the National Association of Realtors. It refers only to a real estate licensee who is a member of that association and agrees to follow its code of ethics.
Many licensed sales agents and brokers are not Realtors. The terms licensee and Realtor are not interchangeable.
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Real Estate Practice (8% of the exam)
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- Multiple Listing Service (MLS)
A cooperative system in which member brokers share their listings and offers of cooperation with one another.
- Sales Agent
A Texas license holder who performs real estate brokerage only under the sponsorship and supervision of a broker.
- Broker
A Texas license holder who may operate a brokerage independently, hold trust money, and sponsor and supervise sales agents.
This definition is Texas real estate exam-prep education, not legal, tax, or professional advice. Verify current rules against the official source before relying on them for a real transaction. Back to the full glossary.