The Difference Between a Real Estate Agent and a Realtor
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When buying or selling a home, you may hear the terms real estate agent and Realtor used interchangeably. However, while they share similarities, there are key differences between the two. Understanding these distinctions can help you make a more informed decision when choosing a professional to guide you through the real estate process.
What Is a Real Estate Agent?
A real estate agent is a licensed herosold professional who helps clients buy, sell, and rent properties. They are required to complete pre-licensing courses, pass a state exam, and meet any additional requirements set by their state’s real estate commission.
Roles and Responsibilities of a Real Estate Agent
- Assisting clients in buying, selling, or renting properties
- Conducting market research to determine property values
- Listing homes for sale and marketing them effectively
- Negotiating contracts between buyers and sellers
- Guiding clients through inspections, appraisals, and closing procedures
Real estate agents can work independently or under a brokerage, but they are not necessarily members of the National Association of Realtors (NAR).
What Is a Realtor?
A Realtor is a real estate agent who is a member of the National Association of Realtors (NAR). The main difference between a Realtor and a regular real estate agent is that Realtors must adhere to a strict Code of Ethics set by the NAR. This code ensures they uphold high standards of professionalism, honesty, and fairness in their dealings.
Additional Responsibilities and Ethical Standards of a Realtor
- Committing to the NAR’s Code of Ethics, which emphasizes integrity and transparency
- Prioritizing clients’ interests above personal gain
- Staying updated on industry trends and best practices through continuing education
- Having access to exclusive market data and tools available only to NAR members
Realtors can work in various real estate fields, including residential and commercial sales, property management, and appraisal services.
Key Differences Between a Real Estate Agent and a Realtor
| Feature | Real Estate Agent | Realtor |
|---|---|---|
| Licensing | Must be licensed by the state | Must be licensed and a member of NAR |
| Code of Ethics | Not required to follow NAR’s Code of Ethics | Must follow the NAR’s Code of Ethics |
| Association Membership | No mandatory membership | Must be a member of NAR |
| Continuing Education | Varies by state | Required by NAR for ongoing membership |
| Professional Standards | Governed by state laws | Held to higher ethical and professional standards by NAR |
Which One Should You Choose?
When selecting a professional to help with your real estate transaction, it’s important to consider your specific needs.
- If you want an agent with higher ethical standards and access to exclusive market resources, a Realtor may be the better choice.
- If you’re comfortable working with a licensed agent who may not be a NAR member but is still knowledgeable and experienced, a real estate agent can still provide excellent service.
Regardless of your choice, ensure that the professional you work with has a strong track record, good communication skills, and a deep understanding of the local market.
Conclusion
While all Realtors are real estate agents, not all real estate agents are Realtors. The main difference lies in their membership in the National Association of Realtors and the ethical obligations they must follow. Understanding these distinctions can help you make the right decision when buying or selling a property.
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