Whats the difference between real estate agent and realtor

We’re aware that a lot of other countries in the world don’t necessarily have these distinctions, so we provide a guide to our clients to help them choose the type of professional they need to represent them. You can also read more in-depth information on this topic in our book Your Guide to Florida Property Investment for Global Buyers.

1) Realtor

This term is trademarked by the National Association of Realtors (NAR). This means that only real estate agents registered with NAR are allowed to call themselves Realtors. And only Realtors have access to the MLS, have signed up to the association’s code of ethics, and participate in regular training and continuing education.

The majority of real estate agents in Florida are signed up to the National Association of Realtors. If you find an agent you like who isn’t signed up, we would advise asking them why not. Those who are designated Realtors will have access to a wealth of information, support networks, and listings, that those who choose not to sign up do not.

To become a member of the NAR, you need to join your local real estate board or association. New NAR members must take an online course on the ethics code, and pass an exam. Current members are required to take an online ethics refresher course every four years and adhere to strict standards of practice.

The official ethics code is revised yearly to reflect the latest issues in real estate law and practice, and its core message is to “treat all parties honestly”. We think you’ll agree that this extra training and code of ethics is a major differentiator, and we’d always advise you to choose a Realtor over a real estate agent for this reason.

2)Real Estate Agent

This is a licensed real estate professional who has passed their real estate exam. Their job description is to assist and advise buyers and sellers in marketing and purchasing a property. If they are solely a licensed real estate agent and not a designated Realtor, this person has no access to the MLS, and thus has no more access to information than you do through the internet sources. Since the MLS is the most definitive and comprehensive source of real estate data, this is a big shortcoming in our opinion.

Neither real estate agents nor actual Realtors can accept remuneration in a property deal, i.e. handle the cash, for this, they need to be a licensed broker. Real estate agents facilitate deals on behalf of a broker. Therefore, agents can only sell a property if they work for a real estate broker or brokerage.

Agents cannot list properties for sale, only assist and advise in the buying and marketing of them. An agent’s job includes finding properties, helping to arrange inspections, structuring contracts, and negotiating for your interests, so the agent needs to be experienced and knowledgeable in all these areas.

3) Real Estate Broker

A broker is a licensed professional who is qualified to handle all the elements already discussed above, as well as the additional financial part of real estate transactions. The broker is a real estate agent (in other words also assists in selling and marketing) that has had more formal education and higher-level licensing. Real estate agents and Realtors must work under a broker’s umbrella, and that broker takes legal responsibility for any action by the agent.

Any mistakes or illegality on the agent’s part is the legal responsibility of the broker. Brokers usually earn significantly more money than agents and very often are their own bosses with agents working under them. But also have much more legal liability and responsibility. Again, it is important to articulate here that while all brokers must have their real estate license, they may not necessarily be a realtor. If you choose to work with a broker be sure they are also a Realtor.

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. It also grants agents the ability to network with other esteemed professionals, as well as exclusive access to list properties on Realtor.com.

Is it better to be a realtor or an agent?

Becoming a realtor is an obvious goal of many agents. The title is attached to a level of prestige that helps to boost their desirability to clients. The potential to stand out to clients can lead to more, or even better, business opportunities. In laymen’s terms, obtaining the title of realtor can ultimately result in an agent generating better income.

But why is this? As we know, realtors are required to have an outstanding record of professional conduct and must adhere to a code of ethics. Clients who know this understand that working with a realtor means dealing with someone who most likely has a remarkable history in the field and will handle all things with an enhanced level of professionalism. As a buyer or seller, you want the best possible experience and working with a Realtor is one way to ensure that you will.

The potential to have more success in the real estate industry is significant, but it’s not the only reason for an agent to go that extra mile to become a realtor. After all, real estate agents and realtors are sales agents, and their tactics, experience, and motivation are what will ultimately build higher levels of income.

It’s important to remember that realtors and real estate agents cannot perform property transactions privately. Their job is simply to guide clients through the process. One thing that slows agents down in obtaining contracts. Real Estate Contracts must be written by an attorney or lawyer and may take time to receive. If you become a realtor, you will have access to GAR forms, which contain all the contracts they will ever need, speeding up the transaction process.

In regards to income, realtors also have a security measure that aids them in disputes regarding commissions. If you become a realtor and ever feel you have not received commissions that you are entitled to, your local chapter will handle the conflict for you. An agent dealing with similar issues will have to hire a lawyer to help them, burdening them with legal fees.

Also, we should highlight the fact that becoming a realtor does positively influence your professional networking. Other professionals are more likely to recommend your services to clients if you earn the title. Of course, this also leads to a better potential to generate higher levels of income.

At face value, the difference between an agent and a realtor is the professional certification. Both play the same role in real estate transactions. Only a realtor has the edge over the average agent because of their reputation, connections, and ability to assist the transaction in ways an agent cannot. That’s not to say an agent is not capable of providing an experience that matches or exceeds what a realtor can. Ultimately, it comes down to the individuals, their motivation, and how they conduct themselves.