What is the Difference between a Realtor and an Estate Agent? It is the question that is asked by most of the people who wills to sell to buy a real estate. Several terms are used for real estate agents, which often leads to confusion among clients and agents themselves. For making a strong position in the market, some agents are often inclined to the use of titles along with their names. They could be recognized as a real estate consultant, an associate, a Realtor, or a salesperson. The agent is responsible for selling real estate under the light of a license. Similarly, real estate brokers are able to work as an agent, while agents are limited to work as a real estate broker due to their ineligibility to obtain a license under specific laws.
If you are stepping into the real estate market for the very first time, it is necessary for you to explore what is the difference between a Realtor and an estate agent? To avoid misunderstandings. In most cases, people use the highlighted titles interchangeably, but the difference lies in the roles played by involved professionals on the basis of client’s need and titles given to them. Following is the description of some of the major terms that will help in understanding what is the difference between a Realtor and an estate agent?:
- Real Estate Agent: A person who is able to earn a license to legally work is known as a real estate agent. It is not important that he/she has secured a license of an associate broker or a sales professional. However, it is necessary for the person to appear in minimum classes and secure good grades for earning a license.
- Realtor: Considering the duties and responsibilities of a real estate agent are assigned by the guidance provided by the National Association of Realtors. The National Association of Realtors was formed in the year 1908. In other words, the person is liable to ensure codes of ethics and standards provided by the highlighted association.
- A real estate broker: A person who is qualified above the level of an agent, which is required by the laws of a state. Additionally, the person has also passed the license exam to become a broker. A broker can perform their roles independently or they are able to hire agents who could work for them.
- Real estate salesperson: it is the name used by a real estate agent.
- Real estate associate broker: A person who has earned a license to perform the roles and responsibilities of a broker by taking additional education classes. However, the person is more inclined to work under the supervision of a broker.
With the information about what is the difference between a Realtor and an estate agent? you could wisely choose the person you are willing to work with to maintain professionalism in the area of real estate business.