In the process of purchasing a property or if one wants to sell a property, it is vital to know who the people in this industry are. Many clients do not know the difference between real estate agents and realtors. In this article, we will clearly distinguish between a real estate agent and a realtor, looking at their function, qualification, and service offering. Moreover, a brief description of similarities and differences will also be discussed.

Difference Between a Real Estate Agent and a Realtor?

1. What Is a Real Estate Agent?

A real estate agent is a person who has a license to sell or negotiate the sale of land, homes, or other buildings. They have completed the required schooling, taken their state-mandated test, and can practice legally. Real estate agents must, therefore, involve the clients in appreciating their needs and take them through the entire procurement or selling of the property.

Key Responsibilities:

• Assist Clients: Real estate agents act on behalf of a buyer or seller by assisting them through the lengthy process of involving themselves in the real estate business.
• Market Properties: There are different marketing tactics; among the best tactics is marketing them on multiple listing services (MLS) and through various social networks.
• Negotiate Deals: Real estate brokers negotiate to ensure they get the best price in line with their client’s requirements.
• Provide Local Market Insights: This makes them well-informed of the local markets and assists clients in making the right choices.

2. What Is a Realtor?

A realtor is an estate broker member of the National Association of Realtors, with no tolerance for ethical professionalism. Just as a reminder, a realtor is a real estate agent, but not all agents are realtors, and all realtors included must have a license. The source is called the NAR, which offers more training for realtors and information that could improve real estate services.

Key Responsibilities:

• Adhere to a Code of Ethics: The realtor’s agents are bound by a code of conduct. Hence, they are bound to stick to specific regulations that are required to always act in the client’s best interest, among other protocols such as honesty.
• Access to Additional Resources: As a realtor, one has more privileges than access to stock images; for example, there are extra resources in training and connections.
• Better Marketing Tools: Realtors have better marketing tools and techniques to market their properties effectively than individuals.

3. Education and Licensing

To become a licensed real estate agent, one must complete a series of steps, including:

• Completing a state-sanctioned course in real estate.
• Passing a licensing exam.
• Gladly perform such background checks if there is any need to do so.

The NAR is an association of real estate agents who usually issue their members a code of ethics they must follow, and to become a realtor, the real estate agent who already has a license must join the NAR.

4. The Role of Real Estate Agent Broker

A real estate agent broker is elevated in the real estate field. Brokers have extra classes and credentials to control, own, and manage others in a real estate company. Though all realtors can become agents, not all these agents can become brokers.

Responsibilities of a Broker:

• Manage Real Estate Offices: Real estate agencies are owned and operated by brokers who supervise the work of other brokers.
• Supervise Transactions: They also ensure that all completed transactions meet the legal requirements of the particular county and the country.
• Provide Advanced Training: It will interest you that most brokers offer assistance in training and mentoring new agents, which is how they grow in the business.

Similarities and Differences between a real estate agent and a realtor 

Similarities:

• A real estate agent and a realtor assist clients in purchasing, selling, or leasing out property and help them in other aspects of the transaction process. 
• Both demand a real estate license that involves coursework as well as examinations. 
• Both offer their clients information about properties’ value and map market trends. 
• Both work through commission-based income, which means they earn money relative to the number of transactions done. 

Differences:

• Unlike all other agents, realtors belong to the NAR; therefore, they are bound to the code of ethics. 
• NAR provides several resources and tools for professional development that are only available to members of this organization. 
• NAR members are the only ones allowed to use “Realtor,” a unique career title. 
• Real estate agents agree to adhere to higher ethical provisions than the NAR’s code of ethics requires.

Frequently Asked Questions

Q1. Is it better to say, realtor or real estate agent?

Ans: Realtors and real estate agents mean the same thing: agents assisting people in the purchasing, selling, or leasing of buildings or homes, only that the former is a registered trademark. Realtor is simply another name for a licensed real estate agent. However, not all agents practicing real estate are members of this group. According to the rules of NAR, a realtor is a specific protected title to be used only by its members. These professionals have given their word to observe a higher standard of ethics as indicated by the NAR.

Q2. What is the difference between a real estate agent and a realtor? 

Ans: A real estate agent is principally an intermediate who, having passed a relevant exam and acquiring a special license, assists people in purchasing, selling, or leasing a real estate property. They fulfill the basic training requirements and pass examinations to obtain a real estate license.

Still, a realtor is an agent and a National Association of Realtors member, often abbreviated as NAR. They automatically must adhere to high levels of professional standards, and this is because they have sworn to uphold some ethical principles that the NAR provides. 

Q3. How does working with a realtor benefit a person as a buyer or seller?

Ans: They get into an agreement with a realtor because the realtor has special training and knowledge in real estate. As a buyer, a realtor assists in determining the type and the best price of the house according to your wishes and budget, as well as offering direction on the legal procedure for buying and the inspections. To the sellers, a realtor makes it easier to determine an appropriate price for your house, market your home to potential buyers, and negotiate favorable terms for you. In summary, a realtor simplifies the real estate experience and increases its likelihood of being successful.