What is the difference between a real estate agent and a realtor?
When it comes to buying or selling a property, many people may use the terms “real estate agent” and “realtor” interchangeably. However, there is a difference between the two terms that is important to understand.
A real estate agent is someone who has obtained a state license to help clients buy, sell or rent properties. They work under the supervision of a licensed real estate broker and may work for a real estate brokerage firm or as an independent contractor. Real estate agents are required to pass a state exam and complete continuing education courses to maintain their license.
On the other hand, a realtor is a real estate agent who is a member of the National Association of Realtors (NAR). To become a realtor, an agent must first be licensed by their state and then join the NAR by paying membership dues and agreeing to abide by the association’s code of ethics. The code of ethics is a set of rules that outlines how realtors should conduct themselves when working with clients, other agents, and the public.
So, what sets realtors apart from regular real estate agents? One of the biggest differences is the code of ethics. Realtors are held to a higher standard of professionalism and must adhere to a strict set of ethical standards. These standards include honesty, integrity, and a commitment to putting their clients’ interests first.
Additionally, realtors have access to a wide range of resources and tools provided by the NAR. These resources can include market data, legal support, and marketing tools to help realtors better serve their clients.
It’s worth noting that not all real estate agents are realtors, but all realtors are licensed real estate agents. In some cases, real estate agents may choose not to join the NAR and, therefore, cannot call themselves realtors.
When it comes to choosing a real estate professional to work with, it’s important to do your research and ask questions. While both real estate agents and realtors can help you buy or sell a property, a realtor may provide an extra level of professionalism and expertise.
So, in other words, the main difference between a real estate agent and a realtor is that a realtor is a licensed agent who has joined the National Association of Realtors and agreed to abide by the association’s code of ethics. Whether you choose to work with a real estate agent or a realtor, be sure to choose someone who is knowledgeable, experienced, and committed to helping you achieve your real estate goals.