Difference Between Real Estate Agent And Realtor
Are the terms Real Estate Agent and Realtor… the same? Those in the real estate industry must know that they are not, but they also know that Many consumers are not entirely sure what the difference is between a Real Estate Agent and a Realtor Agent and if there is even one. It is important to realize the difference between a Real Estate agent, and an agent with the designation of REALTOR®.
Real Estate Agent License
Because the use of the term “real estate agent” is common, those unfamiliar with the differences between the two denominations often use the term REALTOR as an abbreviation to refer to anyone who is in the business of helping people buy and sell in real estate.
Although both Real Estate Agents and Realtors are licensed in real estate, each title refers to a specific type of Real Estate agent and there is a big difference between the two. We will comment on it below.
Realtor vs Real Estate Agent
Real estate agent – This is a professional who has passed his exam in the real estate field and is licensed as a real estate agent. His work is described as assisting and advising buyers and sellers in marketing and buying properties. Neither Real Estate Agents nor Realtors can accept remuneration from a real estate business, that is, handle cash transactions, for you would need to be a licensed broker.
Real estate agents facilitate negotiations on behalf of the broker. Therefore, agents can only sell properties if they work for a real estate broker, or for a real estate firm.
Realtor – A REALTOR is a term that refers to a real estate agent who is an active member of the National Association of Realtors (NAR), the largest real estate association in the United States.
The term is a registered trademark of the National Association of Realtors. This means that only real estate agents registered with the NAR are allowed to be called Realtors.
National Association of REALTORS®
National Association of REALTORS® (NAR)
The association was originally founded in 1908 as the National Association of Real Estate Boards and changed its name in 1916 to the National Association of Real Estate Boards.
That same year, Charles N. Chadbourn, a Minneapolis real estate agent and Vice President of the National Association of Real Estate Boards proposed the use of the term “REALTOR” to give Association Members a way to distinguish themselves.
Terminologies in the real estate market tend to be confusing. A real estate agent is a realtor® when he or she becomes a member of the National Association of Realtors® (NAR), the largest professional association in the world. If you belong to this association and want to get the best real estate education, we invite you to check our extensive catalog of continuing education with online courses via zoom with a live instructor.