Difference Between A Realtor And Real Estate Agent
Introduction
When it comes to buying, selling, or renting a property, you'll often hear the terms 'realtor' and 'real estate agent' being used interchangeably. While both these professionals deal with real estate, there are some fundamental differences between them that you should be aware of before hiring their services.
What Is A Real Estate Agent?
A real estate agent is a licensed professional who helps people buy, sell, or rent properties. They have undergone the necessary education and training to obtain their license and work under the supervision of a licensed broker. They can work as a listing agent, helping homeowners sell their properties, or as a buyer's agent, assisting clients in finding their dream homes.
What Is A Realtor?
A realtor, on the other hand, is a real estate agent who is a member of the National Association of Realtors (NAR). By becoming a member of this organization, real estate agents can access a range of benefits and resources, including professional development, marketing tools, and legal support. Realtors adhere to a strict code of ethics and standards of practice set forth by the NAR.
Key Differences Between A Realtor And Real Estate Agent
While a realtor is a type of real estate agent, there are several differences between the two that you should know.
Membership In The National Association Of Realtors
The most significant difference between a realtor and a real estate agent is that the former is a member of the National Association of Realtors. This membership gives realtors access to a range of benefits and resources, including professional development, marketing tools, and legal support.
Code Of Ethics And Standards Of Practice
Realtors must adhere to a strict code of ethics and standards of practice set forth by the NAR. This code requires realtors to act in the best interests of their clients, maintain confidentiality, and avoid conflicts of interest. Real estate agents, on the other hand, are not bound by these same ethical standards.
Education And Training
Both realtors and real estate agents are required to complete education and training to obtain their license. However, realtors may have undergone additional training to become members of the NAR and may have a higher level of expertise in certain areas of real estate.
Access To MLS Listings
Both realtors and real estate agents have access to Multiple Listing Service (MLS) listings, which provide detailed information about properties that are for sale. However, realtors may have access to additional MLS listings that are not available to real estate agents.
Conclusion
In conclusion, while realtors and real estate agents both deal with real estate, there are some key differences between these professionals. Realtors are members of the National Association of Realtors and must adhere to a strict code of ethics and standards of practice. They may also have higher levels of expertise in certain areas of real estate. When choosing between a realtor and a real estate agent, it's essential to consider your specific needs and requirements and hire a professional who can best meet them.