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

What’s the difference between a Realtor and a real estate agent?

Definition

A realtor or a real estate broker are both professionals in the real estate business who help clients buy and sell property, as well as rent it. The two roles have distinct differences.

A licensed real estate agent has the education and training necessary to legally assist clients with real estate transactions. They are able to represent sellers or buyers in negotiations, and work under a real estate broker.

A realtor is an agent of real estate who is also a member of National Association of Realtors. Realtors must adhere strictly to the NAR’s code of ethics and practice standards.

In essence, all Realtors are Real Estate Agents, but not every real estate agent is a realtor. To become a realtor, you must also commit to maintaining high ethical standards and providing clients with the best service.

Therefore, when choosing to work with a real estate professional, it is important to consider whether you prefer to work with a real estate agent or a realtor, based on their qualifications, credentials, and commitment 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 include buying and/or selling properties, the education and training requirements for realtors are higher.

To become a real estate agent, one must first be licensed. This includes completing a number of hours for pre-licensing, usually 60-90 according to the state.

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

Once licensed, real estate agents have the option to become realtors by joining the National Association of Realtors (NAR) and their state or local realtor association. Realtors must adhere to a strict code of ethics and standards of practice set forth by the NAR, which goes above and beyond what is required of regular real estate agents.

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

Overall, while both real estate agents and realtors are qualified to help clients buy and sell properties, realtors have undergone additional training and adhere to a higher standard of ethics and professionalism. This distinction can prove important to clients seeking a knowledgeable and reliable agent to assist them in their realty transactions.

Code of Ethics

Real estate agents and realtors both work in the real estate industry, helping individuals buy, sell, or rent properties. There is one major difference between them when it comes their Code of Ethics.

A real estate broker is someone who holds a license to represent both buyers in sellers during real estate transactions. While they are required to abide by certain ethical standards set forth by their state’s real estate commission, they are not necessarily members of the National Association of Realtors (NAR).

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 are expected to maintain a high standard of conduct. They are also required to receive additional ethics training, to ensure they uphold values of the profession. If they are found to be in violation of the Code of Ethics, the NAR may also take disciplinary measures against them.

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 is crucial for clients who are looking for a real estate agent who is committed to maintaining a high level of ethical behavior during their transactions.

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 are bound by a strict code that goes above and beyond the requirements of law. This means they are committed in providing the best service to their customers.

Both real estate agents as well as realtors can assist clients in buying and selling properties, however realtors have additional resources and networking options through the NAR.

Realtors have the option to use the Realtor mark, which can help differentiate them in a competitive industry and attract new clients.

While realty agents may offer similar service to realtors, their professionalism and industry expertise can make a huge difference in the final outcome of a transaction.

The choice of whether to work with an agent or a broker will ultimately depend on your needs and preferences. However, both can be very helpful during the entire buying or selling process.

Costs

Real estate agents and Realtors are both licensed professionals who can help individuals buy and/or sell properties. But there are key differences between them when it comes to fees and costs.

Firstly, it’s important to note that all realtors are real estate agents, but not all real estate agents are realtors. The main difference in the two is Realtors. They are members of National Association of Realtors. Their members must adhere to higher ethical standards and undergo additional training.

When it comes to costs and fees, both realtors and real estate agents typically earn a commission on the sale of a property. This commission is usually paid by the seller and is a percentage of the sale price. The standard rate of commission is typically between 5 and 6%, but this can be adjusted.

It is possible that hiring a agent will incur higher costs and fees than a agent. real estate agents often charge higher fees and commissions for their services.

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 service can be at an additional charge.

agents that are not brokers might offer lower commissions and fees, but not the same level or expertise of a agent. Before making a decision, it is important to weigh both the costs and the benefits of hiring realtor over realty agent.

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. The terms are often used interchangeably but there are some important differences between them.

A realty agent is anyone with a realty license who is authorized to assist their clients in the purchase or sale of property. This includes residential, commercial, and industrial properties. Real estate agents are independent contractors or work for a brokerage.

On the other hand, a realtor is a real estate agent who is a member of the National Association of Realtors (NAR). Realtors adhere to a strict ethical code. They must also complete additional training courses and continue their education.

One of the biggest advantages of working with a Realtor is that they can access the Multiple Listing Service (MLS), a database of all properties for sales in a specific area. This can give realtors an advantage in finding properties that fit their clients’ needs.

The knowledge and experience of a local agent is another advantage of working with them. They can provide valuable insight and advice throughout the buying and selling process to help their clients make informed decision.

In the end, your choice to work with either a Realtor or a Real Estate Agent will depend on what you need and want. You may choose to work with a Realtor if you value their additional training and ethical standards. A real estate agent can be sufficient if you only need help buying or selling property.

You should always do research and interview more than one candidate before making a choice. Finding the perfect real estate professional will make a huge difference in your real estate deal.