What’s the difference between real estate agent and realtor? This is a common question among those who are considering a career in the real estate industry or looking to buy or sell a property. While both terms refer to professionals involved in the real estate market, there are distinct differences between them. Understanding these differences can help you make informed decisions when dealing with real estate professionals.
Firstly, it’s important to note that a real estate agent is a more general term that encompasses all professionals licensed to sell, rent, or manage properties. These agents can be found in various real estate firms and work on a commission basis. They have the necessary qualifications and certifications to engage in real estate transactions, but their expertise may vary depending on their specific experience and area of focus.
On the other hand, a realtor is a specific designation held by members of the National Association of REALTORS® (NAR). To become a realtor, an individual must first be a licensed real estate agent and then join the NAR. By doing so, they commit to adhering to a strict code of ethics and professional standards set by the organization. This code of ethics is one of the key differences between real estate agents and realtors.
The NAR’s code of ethics is designed to protect consumers and maintain the integrity of the real estate industry. It includes principles such as honesty, fairness, and respect for all parties involved in a transaction. Realtors are required to complete additional education and training to ensure they are up-to-date with the latest industry practices and regulations. This extra training often makes realtors more knowledgeable and better equipped to handle complex real estate transactions.
Another difference between real estate agents and realtors is the level of service they provide. Realtors typically offer a higher level of service and are more committed to their clients’ needs. They often have access to a broader network of resources and tools, such as exclusive listings and advanced marketing strategies, which can benefit both buyers and sellers. This level of service can be particularly valuable in competitive real estate markets.
While both real estate agents and realtors have the necessary qualifications to handle real estate transactions, the realtor designation signifies a higher level of commitment to ethical standards and professional development. When choosing a real estate professional to assist with your property needs, it’s important to consider their experience, expertise, and adherence to ethical standards. By understanding the differences between real estate agents and realtors, you can make a more informed decision and find the right professional to help you achieve your real estate goals.
