The terms “Realtor” and “real estate agent” are often used interchangeably, but there is a key difference. Here’s an overview:
- Realtor:
- A Realtor is a real estate agent who is a member of the National Association of Realtors (NAR).
- The term “Realtor” is trademarked and signifies a commitment to a higher level of professionalism.
- NAR membership provides access to various professional tools, benefits programs, educational resources, and research statistics.
- Realtors are part of America’s largest trade association, representing over 1.2 million members involved in various aspects of the real estate industry.
- NAR has a strict Code of Ethics & Professional Standards that members must adhere to, covering duties to clients and customers, duties to the public, and duties to other Realtors.
- Real Estate Agent:
- A real estate agent is a licensed professional who can help buyers and sellers in real estate transactions.
- To become a licensed real estate agent, individuals typically undergo 30 to 90 hours of real estate classroom instruction and must pass a licensing exam.
- While real estate agents may offer similar services to Realtors, they are not members of the NAR and are not bound by its Code of Ethics.
In summary, all Realtors are real estate agents, but not all real estate agents are Realtors. The distinction lies in NAR membership and the commitment to uphold the organization’s Code of Ethics. When working with a Realtor, clients can expect a higher level of professionalism, ethical conduct, and access to additional resources and benefits.