A real estate agent is a licensed professional who helps buyers and sellers in the process of buying or selling property. On the other hand, a realtor is a real estate agent who is a member of the National Association of Realtors (NAR) and adheres to a strict code of ethics.
The world of real estate can be complex and confusing, especially when it comes to understanding the roles of various professionals involved in the process. One commonly misunderstood distinction is between a real estate agent and a realtor. While the terms may be used interchangeably, there is actually a significant difference between the two.
We will delve into the dissimilarities between a real estate agent and a realtor and how these disparities can influence their ability to assist buyers and sellers in their property transactions. Understanding these distinctions is essential for anyone considering the purchase or sale of real estate, as it can help ensure that the right professional is chosen to meet their specific needs. So let’s dive in and explore the differences between a real estate agent and a realtor.
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Frequently Asked Questions For Difference Between The Real Estate Agent And A Realtor
Table of Contents
What Is The Difference Between A Real Estate Agent And A Realtor?
A real estate agent is licensed to represent buyers and sellers in real estate transactions, while a realtor is a member of the National Association of Realtors (NAR) and must adhere to a strict code of ethics. All realtors are agents, but not all agents are realtors.
Do Real Estate Agents And Realtors Have The Same Qualifications?
Both real estate agents and realtors are required to be licensed to practice, but realtors have the additional designation of being a member of the NAR. This means they have undergone further training and adhere to a higher ethical standard.
Can A Non-Realtor Work As A Real Estate Agent?
Yes, a non-realtor can work as a real estate agent as long as they are licensed. However, they will not have the same benefits and ethical responsibilities that come with being a realtor.
Is A Realtor More Expensive Than A Real Estate Agent?
The cost of hiring a realtor is not necessarily higher than hiring a real estate agent. The fees are typically negotiated between the client and the agent, regardless of whether they are a realtor or not. It is important to discuss fees and commissions upfront with any professional you choose to work with.
Conclusion
When deciding to buy or sell a property, it is crucial to understand the difference between a real estate agent and a realtor. While they may seem similar, there are key distinctions that can impact your real estate experience. A real estate agent is a licensed professional who works on behalf of buyers or sellers in real estate transactions.
They have completed the necessary training and licensing requirements to practice in their respective state. On the other hand, a realtor is a real estate agent who is also a member of the National Association of Realtors (NAR). Realtors adhere to a strict code of ethics and have access to a wide range of resources and tools, including market data and networking opportunities.
By working with a realtor, you can expect a higher level of professionalism and advocacy throughout the buying or selling process. Ultimately, whether you choose to work with a real estate agent or a realtor depends on your specific needs and preferences.
It is important to do your research and select the right professional to assist you in achieving your real estate goals.