What’s the difference between a Realtor® and a real estate agent? Did you know there is even a difference? Many people don’t know there is a distinction, let alone that they should choose one or the other.
Buying or selling a home is likely to be one of the biggest, most important financial transactions of your life. You need a qualified representative to help you navigate the process. A real estate agent and a Realtor® are both qualified to assist you in your transaction, but which should you choose?
Real estate agents are also known as sales associates or salespersons. To obtain a real estate license, agents are required to complete a course of study and pass the school’s final exam. They must also have a background check and pass the state licensing exam. In addition to their state license, they must also be a member of the recognized realtor association in their region.
Once they obtain their license, agents are authorized and qualified to represent buyers and sellers in real estate transactions. Real estate agents and Realtors® both go through this process.
So…What’s the Difference Between a Realtor® and a Real Estate Agent?
Realtors® and real estate agents are legally recognized as mediators during real estate transactions. Both represent buyers and sellers of property. So what’s the difference? The simplest explanation is this: all Realtors® are real estate agents, but not all real estate agents are Realtors®.
In order to have the widely respected title of Realtor®, an agent must be a member of the National Association of Realtors® and abide by its strict Code of Ethics.
The National Association of Realtors®
The NAR was founded in 1908 and is one of the largest trade associations in the country. Its Code of Ethics was one of the first codes of ethical practices adopted by any business group.*
Members of the NAR are held to a higher standard and pledge to put buyers’ and sellers’ interests above their own, and be honest with all parties to the transaction. The Code of Ethics contains 17 Articles that outline a Realtor’s® duties to clients/customers, to the public, and to other Realtors®. **
This Code of Ethics is what separates Realtors® from real estate agents.
When you choose to work with a Realtor® you can rest assured that you’re working with someone who has honesty and integrity. Someone who won’t exaggerate, misrepresent or conceal pertinent facts about a property. Someone who will put your best interests first, while being upfront with all others involved including the other real estate agent and his or her clients.
Contact The Donnelly Group!
When you decide sell your home in metro Phoenix, or buy your first home, contact the Donnelly Group at 480-792-9700 or by email. Our small team of Realtors® will always put your best interests first as we help you through your purchase or sales transaction.