Planning on buying or selling a home? Well, you’re going to want to work with a real estate agent, broker, or Realtor. If you’re new to real estate, you’re probably wondering what the differences between these folks even are. While these terms are often (mistakenly) used interchangeably, there are distinct differences.
What Is a Real Estate Agent?
A real estate agent is a professional who assists in buying and selling properties. They have a real estate license and often practice within a particular niche they’re authorities of. This can be a buyer’s or seller’s agent, rental agent, or investor agent.
What Is a Broker?
A broker is a professional who’s passed a special broker’s licensing exam. Brokers are responsible for managing real estate firms and their agents, ensuring legal compliance, and reviewing contracts.
What Is a Realtor, and What’s With The Capital ‘R’?
A Realtor is a real estate agent who is an active member of the National Association of Realtors (NAR). To join the organization, active agents must have a valid real estate license, an immaculate professional conduct record, and adhere to an additional 17 article Code of Ethics.
What You Need to Know
The real estate industry is full of talented professionals that take complete ownership of their own niches. Whether you decide to work with a real estate agent, Realtor, or broker, it’s essential to acknowledge the significant work done by any real estate professional.