What is the Difference Between a Realtor and a Real Estate Agent?

What’s the Difference Between a Realtor and a Real Estate Agent? Key Differences

If you’re in the market to buy or sell a home, you may have heard the terms “REALTOR” and “real estate agent” used interchangeably. However, there is a difference between these two terms. In this article, we’ll explore the difference.

What is a Real Estate Agent?

A real estate agent is a licensed professional who helps people buy and sell real estate. Real estate agents are required to complete a certain number of hours of education and pass a licensing exam in their state or province. Once licensed, real estate agents can work with clients to help them buy or sell properties. [ 1 ]

Real estate agents work on behalf of their clients to help them navigate the complex process of buying or selling a home. They assist with tasks such as pricing a property, marketing a property, negotiating offers, and ensuring that the transaction is completed according to all legal and ethical guidelines.

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What is a REALTOR?

A REALTOR is a real estate agent who is a member of the National Association of REALTORS (NAR). The NAR is a professional organization for real estate agents in the United States. In Canada, the Canadian Real Estate Association (CREA) is the professional organization for real estate agents, and members are known as REALTORS.

To become a REALTOR, a real estate agent must join their local association of REALTORS and agree to abide by a code of ethics established by the association. The code of ethics requires that REALTORS uphold certain standards of behavior, such as putting their clients’ interests above their own and maintaining confidentiality.

The Benefits of Working with a REALTOR

While both real estate agents and REALTORS can help you buy or sell a property, working with a REALTOR has several benefits. These benefits include:

• Professionalism:

  REALTORS are held to a higher standard of professionalism than non-member real estate agents. By working with a REALTOR, you can be confident that you are working with a professional who is committed to ethical and professional behavior.

• Code of Ethics:

  REALTORS are required to abide by a code of ethics that includes standards for honesty, integrity, and confidentiality. This code of ethics can provide you with added peace of mind when working with a REALTOR.

• Access to Resources:

  REALTORS have access to a variety of resources that can be helpful when buying or selling a property. For example, REALTORS may have access to specialized marketing tools, databases of properties for sale, and other resources that can help them better serve their clients.

• Knowledge and Experience:

  REALTORS have extensive knowledge and experience in the real estate industry. This knowledge can be valuable when it comes to pricing a property, negotiating offers, and navigating the complex process of buying or selling a home.

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Conclusion

While the terms “REALTOR” and “real estate agent” are often used interchangeably, there is a difference between these two terms. REALTORS are real estate agents who are members of a professional organization and agree to abide by a code of ethics.