Buying or selling a property can be a daunting task. With so many terms and jargon to understand, it can be challenging to navigate the process. One of the most significant decisions you’ll have to make is whether to
Discover what a realtor is, their role in the real estate industry, and how they can assist you in buying or selling a property.
work with a REALTOR® or a real estate agent. While the terms are often used interchangeably, there are notable differences between them that you should be aware of. In this article, we’ll explore the key differences between REALTOR® and real estate agents and help you decide which one is right for your needs.
Learn about the differences between realtors and real estate agents, and which one is right for you when buying or selling property.
What is a REALTOR®?
A realtor is a licensed real estate agent who is a member of the National Association of REALTORS® (NAR). The NAR is the largest trade association for real estate agents and brokers in the United States. As a member of the NAR, REALTORS® are required to follow a strict code of ethics and standards of practice. This includes acting in their clients’ best interests, being honest and transparent in their dealings, and upholding their fiduciary responsibilities. REALTORS® have access to a broader range of resources and information, making them more effective in their jobs.
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The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity SM Program of the Regional Multiple Listing Service of Minnesota, Inc. The information provided is deemed reliable but not guaranteed. Properties subject to prior sale, change or withdrawal. ©2024 Regional Multiple Listing Service of Minnesota, Inc All rights reserved.
What is a Real Estate Agent?
A real estate agent is a licensed professional who helps buyers and sellers with their real estate transactions. They assist with the buying and selling of homes, rental properties, and commercial properties. Real estate agents are regulated at the state level and must meet specific requirements to obtain their license. While they are not required to be members of the NAR, they still must follow the state’s laws and regulations.
What’s the Difference Between REALTORS® and Real Estate Agents?
While both REALTORS® and real estate agents are licensed professionals who help clients buy and sell properties, there are some notable differences between the two. The most significant difference is that REALTORS® are members of the NAR and must follow the organization’s strict code of ethics and standards of practice. This includes putting their clients’ interests first, being transparent in their dealings, and upholding their fiduciary responsibilities.
Another key difference is the access to information and resources. REALTORS® have access to a broader range of data and information, including market trends, pricing data, and other critical insights. This information can help them better serve their clients and make more informed decisions.
Which One Should You Choose?
Choosing between a REALTOR® and a real estate agent ultimately depends on your needs and preferences. If you’re looking for someone who is bound by a strict code of ethics and has access to a broad range of resources, a realtor may be the best choice. On the other hand, if you’re comfortable with a licensed professional who meets the state’s requirements and can assist you with your real estate transactions, a real estate agent may be a good fit.
In conclusion, both REALTORS® and real estate agents play a vital role in the buying and selling of properties. While there are some differences between the two, they both provide valuable services to their clients. By understanding these differences and your own needs, you can make an informed decision on which one to work with for your real estate needs.
FAQs:What is a REALTOR®? Vs A Real Estate Agent
Q: Can a real estate agent become a REALTOR®?
A: Yes, a real estate agent can become a REALTOR® by joining the National Association of Realtors and abiding by its code of ethics and standards of practice.
Q: Are REALTORS® more expensive than real estate agents?
A: No, REALTORS® and real estate agents typically charge similar fees for their services. The fees may vary depending on the market and the specific services provided.
Jim and Shannon owners of Modern Market REALTORS® are known for their relentless work ethic, enthusiasm, and ability to create a positive buying and selling experience for their clients who often become friends.
