Etymology:
Meaning:
A realtor is a person licensed to sell real estate, who typically works as an agent for buyers or sellers of property.
Origin:
The term "realtor" was coined in 1916 by Charles N. Chadbourn, a real estate broker from Minneapolis, Minnesota. Chadbourn wanted to create a term that would distinguish licensed real estate professionals from unlicensed individuals who were engaged in the same business.
The term "real estate" had been in use since the 16th century to refer to property, such as land, buildings, and other immovable assets. Prior to the 20th century, people who sold real estate were typically known as "real estate agents" or "brokers."
Chadbourn's proposal to use the term "realtor" was met with resistance from some in the industry who felt that it was too exclusive. However, the term gradually gained acceptance and became widely used by the 1950s.
Today, the term "realtor" is a legally protected trademark of the National Association of Realtors (NAR), the largest professional trade association for real estate practitioners in the United States. Only licensed real estate agents who are members of the NAR can use the term "realtor."
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