Difference between Agent and Realtor
The real estate industry is a vast and complex field, with numerous professionals playing different roles. Two of the most common terms used in this industry are “agent” and “realtor.” While these terms are often used interchangeably, there are significant differences between the two. Understanding these differences is crucial for anyone looking to buy, sell, or invest in real estate.
Realtor
A realtor is a licensed professional who is a member of the National Association of Realtors (NAR). To become a realtor, an individual must meet certain requirements, such as passing a state-specific real estate exam and completing a certain number of continuing education courses. Realtors are bound by a strict code of ethics, which ensures that they act in the best interests of their clients.
One of the key benefits of working with a realtor is their access to a wide range of resources and tools. Realtors have access to the Multiple Listing Service (MLS), which is a database of all available properties for sale in a particular area. This allows them to quickly and easily find properties that match their clients’ needs and preferences.
Agent
An agent, on the other hand, is a more general term that can refer to anyone who is licensed to sell real estate. This can include realtors, as well as brokers and salespeople. Agents are required to pass a state-specific real estate exam and obtain a license, but they are not necessarily members of the NAR or bound by the same code of ethics as realtors.
While agents may not have the same level of access to resources as realtors, they can still provide valuable services to clients. Agents can help clients navigate the real estate process, negotiate deals, and handle paperwork. However, they may not have the same level of expertise or experience as a realtor.
Key Differences
The main difference between an agent and a realtor lies in their membership and adherence to the NAR’s code of ethics. Realtors are required to follow a strict code of ethics, which ensures that they act with integrity and honesty. Agents, on the other hand, may not be bound by the same ethical standards.
Another key difference is the level of access to resources. Realtors have access to the MLS, which can be a significant advantage when searching for properties. Agents may not have the same level of access to this valuable resource.
Conclusion
When it comes to real estate, the terms “agent” and “realtor” are often used interchangeably, but there are significant differences between the two. Realtors are licensed professionals who are members of the NAR and adhere to a strict code of ethics. Agents, on the other hand, are a more general term that can refer to anyone licensed to sell real estate. Understanding these differences can help you make an informed decision when choosing a professional to assist you with your real estate needs.
