If you’re thinking of buying or selling a property, you’ll likely come across the terms “realtor” and “real estate agent.” While these terms are often used interchangeably, they do have some key differences that are worth noting. In this blog, we’ll take a closer look at the differences between realtors and real estate agents.
First, let’s define the terms. A real estate agent is someone who is licensed to help people buy, sell, and rent properties. To become a licensed real estate agent, one must pass a state-level exam and meet certain educational requirements. Once licensed, a real estate agent can work independently or as part of a brokerage firm.
On the other hand, a realtor is a real estate agent who is a member of the National Association of Realtors (NAR), a professional organization that represents real estate agents and brokers. To become a realtor, one must first become a licensed real estate agent and then apply for membership in the NAR. Realtors are bound by a strict code of ethics and are required to adhere to certain standards of professional conduct.
So, what are the differences between realtors and real estate agents? Here are a few key distinctions:
Code of ethics: As mentioned above, realtors are bound by a code of ethics that requires them to act in the best interests of their clients, maintain confidentiality, and avoid conflicts of interest. Real estate agents who are not members of the NAR are not bound by these same standards.
Access to resources: Realtors have access to a range of resources and tools that are not available to non-members, including market data, legal support, and training and educational opportunities.
Designation: Realtors can earn special designations, such as Certified Residential Specialist (CRS) or Accredited Buyer’s Representative (ABR), that indicate a higher level of expertise and specialization.
Fees: Realtors may charge higher fees than non-member agents, as they often have access to additional resources and services.
So, which one should you choose: a realtor or a real estate agent? Ultimately, the choice depends on your individual needs and preferences. If you value a higher level of professionalism, expertise, and access to resources, a realtor may be the better choice. However, if you’re simply looking for a licensed professional to help you buy or sell a property, a non-member real estate agent may be a more affordable option.
Regardless of which option you choose, it’s important to do your due diligence and carefully research any potential realtor or real estate agent before working with them. Look for someone with a proven track record of success, positive reviews from past clients, and a deep understanding of the local market. With the right professional by your side, you can navigate the complex world of real estate with confidence and ease.
Author: Mr.Oz
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