August 12, 2014
Real Estate
People often use the terms realtor*, real estate agent and broker interchangeably, but they actually mean different things.
Ā
Although all are licensed to sell real estate, the basic difference between a real estate agent and a realtor is that a realtor is a member of the National Association of REALTORSĀ®. As such, the main difference is that a realtor must subscribe to the REALTORĀ® Code of Ethics.
Ā
Ā
The Code of Ethics is strictly enforced. It contains 17 articles and accompanying Standards of Practice. Itās not just a list of rules that agents swear to uphold and adhere to. The Standards are much more restrictive and confining about conduct than those governing agents who simply hold a real estate license. While there is no evidence or guarantee that all realtors are morally or ethically better than unaffiliated real estate agents, it is an attempt by the industry to regulate its members. See a complete list of things a realtor promises to do that non-affiliates do not.
Ā
Ā
A broker is a real estate agent with further education and a brokerās license issued by the state. The extra education goes in-depth into topics like contracts, taxes, and insurance. Brokers can work on their own or they can hire agents to work for them in an agency. To become a broker, a real estate agent must have been working as a licensed real estate agent for a certain number of years.
Ā
*Note: the trademarked wordĀ REALTORĀ® is the proper format, but I prefer a more natural flow in my blog and website, so I use the termĀ realtor to keep things easy for you to read. When I say realtor, I meanĀ REALTORĀ®.
Ā
Ā
Stay up to date on the latest real estate trends.
September 7, 2024
September 6, 2024
Real Estate Education
September 2, 2024
August 26, 2024
Real Estate
August 26, 2024
Buying
August 26, 2024
Real Estate Education
August 17, 2024
Market Update
August 3, 2024
Buying
August 3, 2024
Youāve got questions and we canāt wait to answer them.