What’s the difference between a realtor and a real estate agent? This is a common question among those looking to buy or sell property. While both professionals work in the real estate industry, there are distinct differences in their roles, qualifications, and responsibilities. Understanding these differences can help you make an informed decision when choosing a professional to assist with your real estate needs.
A real estate agent is a licensed professional who represents buyers, sellers, or both parties in real estate transactions. They are required to complete a certain number of educational hours and pass a licensing exam to become licensed. Real estate agents can work independently or as part of a brokerage firm. Their primary role is to help clients find and purchase properties that meet their needs, or to sell their current property for the best possible price.
On the other hand, a realtor is a real estate agent who is also a member of the National Association of Realtors (NAR). To become a realtor, an agent must adhere to the NAR’s strict code of ethics and complete additional training. Realtors are held to a higher standard of professionalism and are required to participate in ongoing education to keep their membership active. This means that a realtor has access to more resources and tools to help their clients, and they are committed to upholding the highest level of integrity in the industry.
One key difference between a realtor and a real estate agent is the level of service they provide. Realtors often have access to a wider network of professionals, such as lenders, inspectors, and appraisers, which can make the home buying or selling process smoother for their clients. Additionally, realtors are more likely to have experience in various aspects of real estate, such as negotiation, marketing, and property management.
Another difference is the legal and ethical obligations. Realtors are bound by the NAR’s code of ethics, which requires them to act with honesty, integrity, and fairness in all transactions. This means that they must put their clients’ interests first and avoid conflicts of interest. Real estate agents, while also required to follow state laws and regulations, may not be held to the same level of ethical standards as realtors.
In conclusion, the main difference between a realtor and a real estate agent lies in their qualifications, level of service, and ethical obligations. While both professionals can assist with buying or selling property, a realtor offers a higher standard of service and a commitment to ethical conduct. When choosing a professional to help with your real estate needs, consider their experience, expertise, and adherence to ethical standards to ensure you receive the best possible service.
