Have you ever wondered what the differences between realtors vs real estate agents are? It turns out, there’s quite a bit of difference between these two professional terms.
In this blog post, we will explore what makes a real estate agent different from a realtor and why it matters when you’re deciding to become a realtor vs. a real estate agent. There are some benefits of being a realtor vs a real estate agent that you should know about.
As many of you know, all of our agents at RE/MAX Northern RI area are actual “realtors” even though we often refer to them as “real estate agents.”
Requirements To Become A Real Estate Professional
In order to become either an agent or a realtor, you must have a valid state real estate license. However, that alone does not make someone qualified as either an agent or realtor. Becoming an agent requires passing your state’s licensing exam.
Not only does a realtor need to pass the state’s exam but also meets any other local requirements in their state. These may include completing additional training courses or having previous experience in the field.
To become a realtor, however, you must also be an active member of the National Association of Realtors (NAR). This means that they must abide by the NAR’s Code of Ethics and Standards of Practice.
Furthermore, it includes being honest with clients, providing accurate information about properties, and providing quality service throughout the transaction process.
Differences In Real Estate Services Offered
The primary difference between agents and realtors is that agents provide services only within their own state whereas realtors can offer their services across multiple states due to their affiliation with the NAR.
Another major difference is that agents typically work with buyers and sellers on behalf of their employer while realtors are generally independent contractors who work for themselves. Agents also tend to focus more on residential properties whereas realtors can specialize in commercial properties as well as residential ones.
Lastly, agents may not be members of multiple listing services (MLS) while all NAR members have access to MLS databases which helps them find more properties for sale or rent.
Realtors Have Additional Resources
In addition to agreeing to adhere to the NAR Code of Ethics, members also gain access to additional resources. These real estate resources can be helpful when working on transactions or advising clients.
For example, the NAR provides access to multiple listing services. These allow realtors to view listings from other agents in their areas so they can help their clients find homes more quickly and efficiently.
They also provide access to continuing education resources. Not only that but legal advice from experienced attorneys who specialize in real estate law.
When a realtor passes these courses they are designations they receive. It makes them an expert in a particular real estate niche.
For example, some may hold an accredited land consultant status. Or another realtor may have the NAR’s green designation. These niches can separate realtors from others if they specialize and become experts in a category of business.
All these benefits combine to make being a realtor an attractive option for those looking for an edge in their business offerings.
Benefits of Being Realtors vs Real Estate Agents
Real estate agents may lack the same level of expertise as realtors. They do not have access to educational resources or legal counsel offered by membership with NAR. Additionally, they may not have experience or knowledge regarding changes and trends within their local markets. They do not have access to multiple listing services like realtors do.
Also, some potential buyers or sellers might be wary about working with them. As they are often unable to provide up-to-date information about the neighborhoods they serve. Or know about the current market conditions related to pricing trends within those regions.
So there are benefits of being a realtor vs a real estate agent today.
Conclusion of Realtors vs Real Estate Agents
In conclusion, both real estate agents and realtors are licensed professionals who can help facilitate transactions involving residential or commercial properties. Hence, only actual realtors are members of NAR.
That means that these realtors have committed themselves to uphold higher standards set forth by this organization’s Code of Ethics. Furthermore, taking advantage of various resources such as MLS services is available only through membership with NAR.
It is well worth the time and investment to join NAR and become a full-fledged realtor and it will look good on your business cards and marketing materials.
Contact Me To Help You Get Start
Ultimately, whether you decide to become an agent or a Realtor depends upon your individual needs when it comes time to start your real estate career with RE/MAX. But knowing what sets each apart can certainly help inform your decision-making process.
If you are reading to become a realtor with RE/MAX contact me. I have 6 RE/MAX offices conveniently located in Northern Rhode Island.
My team of experienced agents also provides mentoring to help you get started with your real estate career. Our office assistants help with providing clerical services for you as well.
There is no time like the present to get started in a real estate career.
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