Many home owners and prospective buyers are stuck with a misconception in their minds. They are under the impression that an agent is automatically a Realtor. This belief is incorrect and I will outline precisely what the difference is.
Definition of a real estate agent
A real estate agent is a professional designation issued by the governing body, typically a state bureaucracy. Each state has its own established guidelines for what it takes for any given profession, and an agent has them as well. In most states, agents have to successfully complete a certain amount of professional training in the classroom. They also have to pass a series of tests to confirm they have a baseline of industry knowledge. On top of that most states require agents to complete annual continuing education classes that deal with a review of information and the inclusion of any information that is new to the industry. Regular participation in the housing industry help hone and perfect the knowledge and experience that many agents call on in the transactions they are involved in.
The definition of a Realtor
First of all, the term Realtor is a trademarked term that the National Association of Realtors uses to describe a professional designation granted by their organization. The NAR holds Realtors to an ethical baseline which customers and clients alike can put some trust in. The ethical guideline arose to address the issue of public opinion of agents, and the industry as a whole. The purpose of it is to show people that they can trust agents by building an ethics based set of rules that members must adhere to. Raising the bar of expectation in the eyes of clients and customers builds trust in industry professionals.
Common questions that outline the difference
Can Agents Sell Real Estate without Being Realtors? Yes, agents can simply be agents, without joining the bandar judi online NAR and receiving their Realtor designation. Typically agents do not get access to local MLS listings unless they are members of the national, state and county/municipal associations.
Is There A Benefit To Working With A Realtor Over an agent? Yes, on top of the ethics standards for Realtors being higher than those for real estate agents, they also have more resources, typically, available to them. Realtors have the added benefit of being members of professional associations that usually exclude agents, though that seems to be changing quickly.
Even though these differences may seem slight to the untrained eye, any time a professional goes through the effort and cost of getting additional certifications, it nearly invariably helps them render a higher level of service. I hope this information is helpful and leads you in choosing your real estate professional.