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

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

Definition

Both realtors and real estate agents are professionals in the industry who assist clients to buy or rent properties, sell them, or both. There is a clear difference between the two roles.

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

A realtor is a real-estate agent who is a part of the National Association of Realtors. Realtors must adhere to a strict code of ethics and standards of practice set forth by the NAR, which sets them apart from non-member real estate agents.

All realtors are also real estate agents. However, not all realty agents are realtors. Becoming a real estate agent requires a commitment to ethical standards, and to providing the highest quality of service to clients.

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

Real estate agents and realtors have different training and licensing requirements. Both professions involve the buying and sale of property. However, realtors must meet higher standards when it comes to education and experience.

To become an agent, you must first be licensed. This involves completing pre-licensing hours, which can range from 60 to 90 hours depending on where you live.

After completing all the required education requirements, do real estate agents get paid hourly real estate agents will need to pass an exam. This exam tests a candidate’s knowledge of real-estate laws and practices as well as their ethical standards.

Once licensed, realty agents have the choice to become Realtors by joining both the National Association of Realtors(NAR) and the state or local realtor associations. 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.

NAR also offers Realtors additional training, professional development and networking opportunities that can help them to stay abreast of industry trends.

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 real-estate industry, helping people buy, sell or rent property. However, their Code of Ethics differs significantly.

A real estate agent has a license that allows them to represent both buyers and sellers of real estate. They are required to adhere to certain ethical standards established by their state’s Real Estate Commission, but they are not necessarily National Association of Realtors members.

On the other hand, a realtor is a real estate agent who is a member of the NAR and has agreed to abide by the organization’s strict Code of Ethics. This code is above and beyond what is required of real estate agents. It covers areas such honesty, professionalism, confidentiality, and integrity.

Realtors are held to a higher standard of conduct and are required to undergo additional training on ethics to ensure they are upholding the values of the profession. The NAR will also take action against them for violating their Code of Ethics.

While both real estate agents and realtors are bound by ethical standards in their work, realtors adhere to a more rigorous and comprehensive set of rules and guidelines. 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 must adhere strictly to a code ethics that goes over and above what is required by the law. They are therefore committed to providing a high level of service to clients.

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

Realtors may also use the Realtor brand to stand out on a market that is competitive and attract additional 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.

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 and Fees

real estate agents and realtors may both be licensed to assist individuals in buying and selling property, but they have some key differences with regards to costs and charges.

Firstly, it’s important to note that all realtors are real estate agents, but not all real estate agents are realtors. The main distinction between the two is that realtors are members of the National Association of Realtors, which holds its members to a higher ethical standard and requires additional training and ongoing education.

realtors as well as real-estate agents earn a commission when it comes to fees and costs. This commission is typically a percentage paid by the buyer. The standard commission is usually between 5-6% of the final sale price. However, this can vary.

However, there may be additional costs and fees associated with hiring a realtor compared to a real estate agent. Realtors are more likely to charge higher fees or commissions because they have been educated and adhere to ethical standards.

realtors might also offer extra services such as photography and staging. They can also help you sell your property faster at a better price. These additional service can be at an additional charge.

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. Before making a choice, it’s important to compare the costs and benefits associated with hiring a real estate agent or a realtor .

How to Choose between a Realtor and a Real Estate agent

When it comes to buying or selling a home, many people often wonder whether they should work with a realtor or a real estate agent. While the terms can be used interchangeably, they have some key differences.

Anyone who holds a real estate license is a real estate agent. They are authorized to help clients buy or sell property. This includes residential, commercial, and industrial properties. Real estate agents may work as independent contractors or for a real estate brokerage.

On the other hand, a realtor is a real estate agent who is a member of the National Association of Realtors (NAR). Realtors have a higher ethical code and must adhere. They are required to complete continuing education and additional training.

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.

A realtor’s knowledge and expertise about the local market is another benefit. They can provide valuable insights and guidance throughout the buying or selling process, helping their clients make informed decisions.

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.

Do your research, and interview several candidates before you make a choice. Finding the right real-estate professional can make all the difference in the outcome of your real-estate transaction.