What Differentiates a Realtor from a Real Estate Agent and a Real Estate Brokers
By Space Coast Daily // November 19, 2021
Having a reliable and passionate real estate agent by your side gives you complete peace of mind during real estate transactions whether you are buying or selling any property. Most importantly, the agent must be right for you even if it might not be the best because a good working chemistry between real estate agents and their clients is essential for a fulfilling experience in property transactions.
You must set the right goals when engaging a real estate agent for which you must have complete clarity about the role, they play in dealing with the property. To understand what to expect from the real estate agent you must first understand their status whether they are realtors, real estate agents or real estate brokers that helps to understand what to expect from them. Many real estate agents try to remain transparent to their clients by requesting to ‘check my blog.’
Especially when you are buying or selling properties in Florida, it is essential that you know the difference between realtors, real estate agents and real estate brokers.
The National Association of Realtors (NAR) owns the trademark of the term Realtor which is applicable only for real estate agents registered with the association.
Therefore, when someone introduces himself as realtor you can assume that the person is a member of NAR and you can always check the correctness of the claim by enquiring with the association.
Realtors enjoy high credibility because of the endorsement by the association that allows them access the MLS, upgrade their knowledge and stay tuned to the best practices of the industry by participating in continuing education and regular training programs and abide by the code of ethics of the association.
In Florida, most real estate agents are realtors as they are members of NAR. Realtors have access to a wealth of information as well as listings and support networks that empower them to offer better and more professional services to their clients.
Real estate agents
All realtors are real estate agents but the converse is not true. Real estate agents have licenses to deal in property issued by the state after passing their real estate exam. They have their task cut out in assisting property buyers and sellers in marketing the properties to ensure a fruitful closure.
Real estate agents perform the same functions as realtors but have limited access to information as they depend only on the internet as they do not have access to the MLS. They operate with limited resources which can impact their performance as compared to realtors. Both realtors and real estate agents cannot handle cash in any property transaction.
Real estate brokers
Real estate brokers are also licensed professionals who deal in property transactions and share a similar scope of work with realtors and real estate agents but enjoy some additional powers as they are eligible to handle the financial aspects of real estate transactions. The licensing level of real estate brokers is higher than real estate agents and they have more formal education than others.
Realtors and real estate agents owe allegiance to real estate brokers as the latter takes the legal responsibility for the conduct of the former.