Whether you’re looking to buy or sell a property, or assist people in buying or selling property, you’re likely trying to figure out what the difference between a real estate agent and a realtor is.
Although the terms are used interchangeably by many, there is a significant difference between them. Knowing the difference can be a defining factor of your buying and selling experience, and is an absolute must for those taking on a new profession in the real estate industry.
What’s the difference between a real estate agent and a realtor?
The difference between a real estate agent and a realtor is that a realtor is an agent that is an active member of the National Association of Realtors (NAR) and a real estate agent does not have to be. While both have a real estate license, a realtor must adhere to a higher level of standards and ethical duties than an agent.
Put simply, becoming a realtor is the next step to take after becoming a real estate agent for many career professionals.
- Real Estate Agent: A professional who assists in the buying or selling of properties. The requirements of becoming a real estate agent vary by state. State requirements typically determine the necessary coursework one must complete before taking the exam to obtain their real estate license. All agents must be knowledgeable in local, state, and national laws to obtain their license. After completing the course and obtaining their license, agents must continue their education and renew their licenses every two years.
- Realtor: A real estate agent that is an active certified member of the National Association of Realtors. To become a realtor, an agent must have a valid real estate license and an impeccable professional conduct record. Members of the NAR are required to take and pass a code of ethics class and follow an extensive Code of Ethics to protect the association’s reputation.
Becoming a member has the benefit of making an agent more desirable to potential clients due to Realtors’ excellent reputation. Furthermore, the organization works to protect the member’s interests. [Read more…]