Realtor vs. Real Estate Agent: What’s the Difference?

What’s The Difference Between a Real Estate Agent and a Realtor?

Definition

A realtor and real estate agent both work in the realty industry and help clients buy, sell and rent property. However, there is a distinct difference between the two roles.

A licensed real-estate agent is a professional who has completed all the necessary training and education to legally assist their clients in real-estate transactions. They are authorized to represent either buyers or sellers and work under the supervision of a licensed real-estate broker.

A realtor is a real-estate agent who is a part of the National Association of Realtors. Realtors are required to adhere to a strict set of ethical standards and practices by the NAR.

All realtors are also real estate agents. However, not all realty agents are realtors. To become a realtor, you must also commit to maintaining high ethical standards and providing clients with the best service.

When selecting a realty professional to work for, it is important that you consider their qualifications and credentials as well as whether they adhere to ethical standards.

Training and Licensing

The licensing and training requirements for realtors and agents of real estate differ in some important ways. While both professions deal with buying and reselling properties, realtors usually have to meet higher education and licensing standards.

In order to become a realtor, individuals must first become licensed real estate agents. This involves completing a certain number of hours of pre-licensing education, usually around 60-90 hours depending on the state.

After completing the necessary education, aspiring agents in real estate must pass a licensing examination. This exam tests a candidate’s knowledge of real-estate laws and practices as well as their ethical standards.

Real estate agents can become realtors after they are licensed by joining the National Association of Realtors. Realtors are required to adhere to the strict code of ethics, and standards of practice, set forth by NAR. This is above and beyond what’s required of regular agents.

The NAR offers additional training and development opportunities for Realtors, which will help them keep up with industry trends and best practice.

Overall, both real estate brokers and realtors possess the skills to assist clients in buying and selling properties. However, realtors receive additional training and adhere more to a high standard of ethics. This distinction can be very important to clients who want a knowledgeable, trustworthy agent to help them in their real estate transactions.

Code of Ethics

Both real estate agents and Realtors work in the industry of real estate, helping individuals to buy, rent, or sell properties. However, their Code of Ethics differs significantly.

A realty agent is a licensed person who represents buyers and sellers when it comes to real estate transactions. They must adhere to certain ethics set by the state’s realty commission, but are not necessarily NAR members.

A realtor, on the other hand is a realty agent who has joined the NAR. They have agreed to follow the strict Code of Ethics of that organization. This code covers areas including honesty, integrity, professionalism and confidentiality.

Realtors must adhere to a stricter code of ethics and undergo additional training in order to uphold the values that define the profession. They can also be disciplined by the NAR for violating the Code of Ethics.

Both real estate agents as well as realtors are bound to ethical standards, but realtors follow a more rigorous set of guidelines and rules. This distinction can be important to clients who want a real-estate professional who will maintain the highest level ethical behavior in their transaction.

Services Offered

A real estate agent is licensed to assist buyers and sellers in real estate transactions, while a realtor is a member of the National Association of Realtors (NAR) and is held to a higher ethical standard.

Realtors must adhere a strict ethical code that goes beyond the law. This means that they are committed to offering their clients the highest level service.

Real estate agents can help clients buy or sell property, but realtors are able to access additional resources and reno real estate agents network opportunities through the NAR.

Realtors also have the ability to use the Realtor trademark, which can help them stand out in a competitive market and attract more clients.

While realty agents and realtors offer similar services, the professionalism of realtors and their industry knowledge can make an important difference in a realty transaction.

Ultimately, whether you choose to work with a real estate agent or a realtor will depend on your specific needs and preferences, but both can provide valuable assistance throughout the buying or selling process.

Costs

realtors as well as real-estate agents can both help people buy or sell properties. However, the costs and fees are different.

Firstly, it’s important to note that all realtors are real estate agents, but not all real estate agents are realtors. The main difference between the two is Realtors belong to the National Association of Realtors. This association holds its members accountable to a higher standard of ethics and requires ongoing education and training.

Realtors, as well Real Estate Agents, earn a commission for the sale of property. The seller pays the commission, which is typically a certain percentage of the total sale price. The standard rate of commission is typically between 5 and 6%, but this can be adjusted.

There may be additional fees and costs associated with hiring a real estate agent as opposed to a . realtors may charge more for their services because they have completed additional education or met higher ethical standards.

Additionally, realtors may offer additional services such as professional photography, staging, or marketing materials that can help sell a property faster and for a higher price. These additional services are usually charged separately.

realty agents and realtors who aren’t realtors may charge lower fees or offer lower commissions, but they might not provide as much service or expertise. It’s crucial to weigh the pros and cons of hiring a Realtor as opposed to a Real Estate Agent, before making a final decision.

Choosing Between a Realtor and Real Estate Agent

Many people wonder if they should use a realtor or real estate agent when buying or selling a house. Although the terms are often interchangeable, there are some key differences.

A real estate agent is anyone who has obtained a real estate license and is authorized to assist clients with buying or selling property. This includes residential, commercial, and industrial properties. Real estate agents may work as independent contractors or for a real estate brokerage.

A realtor is a real-estate agent who is a member of the National Association of Realtors. Realtors have a higher ethical code and must adhere. They are required to complete continuing education and additional training.

One major advantage of working with a realtor is that they have access to the Multiple Listing Service (MLS), which is a database of properties for sale in a given area. This gives them an edge when it comes to finding property that meets their clients’ requirements.

A realtor’s expertise and local market knowledge is another benefit. They can offer valuable insight and guidance during the entire buying or selling process. This helps their clients make informed choices.

In the end, your choice to work with either a Realtor or a Real Estate Agent will depend on what you need and want. If you are looking for the extra training and ethics that comes with working with realtors, that may be the right choice for you. Real estate agents are a good option if all you need is help buying or listing property.

Whichever you choose, be sure to do your research and interview multiple candidates before making a decision. Finding the perfect real estate professional will make a huge difference in your real estate deal.