National Association of Realtors, Realtor, Real Estate Agent

Differences Between Real Estate Agents & Realtors

31 Aug 2020

 National Association of Realtors, Realtor, Real Estate Agent

Real Estate Agent vs Realtor Defined

 

Real estate is one of the quickest developing enterprises in the nation. Particularly for somebody who is new to the business, there is a great deal to know and comprehend. The second one enters the real estate industry, you run into various professionals such as Real Estate Agents, Brokers, Realtors, Salespersons, and institutions such as the National Association of Realtors.

With Lea, your wise and caring realtor, 

 you can have the best finance investing experience with  

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But it is important to know their differences. Although, the work might be identical, definitely, these different titles have some different attributes. People particularly tend to confuse between a real estate agent and a realtor.

 

So, in this article, we are going to understand the difference between the two and whether it is even worth considering. This will provide you with a clear understanding of the professionals working in the real estate industry. 

Who is a real estate agent?

 

In layman's terms, a real estate agent is a professional who assists his or her clients in buying and selling their properties. A real estate license is  required for those professionals. They work for both residential and commercial projects. 

 

Real estate agents can practice as selling agents and purchasing agentsl. While a listing agent helps clients get their properties listed, a buying agent helps to find the perfect property for their clients. 

 

There are likewise rental agents who help individuals to discover real estate to lease of their decision. Professionals are required to pass their respective State examinations in order to obtain the license.  

 

The exam to become a real estate agent is preceded by coursework that ranges between 30 to 90 hours depending on the state. You also need to have proper knowledge about the laws and regulations both state and federally to be a realtor; and also a general idea of how the industry works.

Who is a realtor?

 

Realtor and real estate agent are used interchangeably.  Presently, the vast majority don't understand who is a realtor.  What makes a realtor more valuable than a real estate agent is they're an individual who has agreed to the National Association of Realtors' bylways 

 

The National Association of Realtors is the largest trade association of the United States and was founded in the year 1908. Any active real estate agent can easily become a member of NAR. All that is needed is a valid real estate license and a clean professional conduct record. 

 

So, what is the difference than between being registered with NAR and being simply a real estate agent?

 

In addition to the general guidelines, professionals registered with NAR need to follow an additional code of ethics. There are 17 additional articles to be a realtor. 

 

These extra rules guarantee uprightness and morals, which makes it easier for the client to trust in the agent. This ultimately converts to a wider client base. 

 

Moreover, NAR is an influential association that has strong bargaining power both at the level of financial and state government. According to NAR, almost half of the real estate agents in the country are registered with them.

 

Realtors are the only ones who can control multiple listing service (MLS). The NAR controls the MLS as well so you can't offer it to clients with subscribing to NAR. This is an important benefit of NAR.

What are the additional codes of ethics followed by the realtors?

 

An additional set of codes of ethics has been developed by NAR that needs to be followed by the professional strictly. It makes them more responsible towards their clients, the general public, and other realtors as well. These ethics consist of 17 articles that cover various aspects of the profession.

 

The term NAR was coined in the year 1916 by National Association of Realtors. It was copyrighted and trademarked by them in 1950. The US Patents and Trademark Office still upholds the trademark.

 

We trust that, the 'realtor versus real estate agent' question must be clear at this point. A realtor is a real estate agent who is registered with the National Association of Realtors. 

 

Regal Realtor Thoughts

real estate agent vs realtor

 

To make it even more crystal clear, let's understand the views of an industry expert. Lea is a wealth management expert having experience of over 15 years and her leading real estate ideas have also been featured in Bloomberg, Pricewaterhouse Coopers, and more media throughout America.

 

When asked about what really makes a realtor different than a real estate agent, she says that "A realtor is driven by ethics - or is supposed to be, and is held to these standards by the National Association of Realtors. All realtors must agree to ongoing training in the field of real estate to be considered the more important role of realtor over real estate".

 

When asked if a realtor should be preferred over a real estate agent, Lea says, "Definitely. A real estate agent technically isn’t allowed to represent clients".

 

Finally, Lea gives her final words saying "I became a realtor after seeing my clients time and time again not gain the right real estate advice. Buying a property is one of the biggest decisions in one’s life, and if you hire me, your royal realtor :) I will take care of you as you as my client at the highest level. "

 

We hope that you liked this informative article. Now, you will never have any challenges in understanding the wordings realtor or real estate agent in the business.

 

For more unique content, stay tuned with us. 

 

To learn more about representation with Lea - your wise and caring realtor, 

 call her at (323) 435 - 3398

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Lea Wiviott Boracchia, Co-Founder, FinancialPlans.Info and InvestingProfits.Pro, both apart of the renowned Boracchia Wiviott Wealth Partners

We are a registered investment advisory focused on accessible wealth planning for everyone. Our mission is to help women, men and people of all ages, races, locations, and anyone plan and secure their most successful future. We were originally established in 2005 by way of 3 firms before my husband Marc and I registered our independent advisory in California.

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Past performance is not a predictor of future results. Individual investment results may vary. All investing involves risk of loss. Due to the robust nature of the internet, we cannot be responsible for any information provided, you must verify the accuracy and feasibility of it all. For our full list of policies you agree to in using our site please click on policies.


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