The terms “real estate agent” and “REALTOR®” are often used interchangeably, but there are key differences. Those differences could make a big impact on the level and quality of the services you receive as well as impact the outcome of your purchase or sale. Here's why:
1. Real Estate Agent: A real estate agent is a licensed professional who helps buyers and sellers with real estate transactions. They have completed the required education and licensing in their state or jurisdiction to practice real estate. Real estate agents can represent clients in buying or selling properties and provide various services related to real estate transactions.
2. REALTOR®: A REALTOR® is a real estate agent who is a member of the National Association of REALTOR® (NAR) and adheres to its strict Code of Ethics. The term “REALTOR®” is a registered trademark of the NAR and signifies a commitment to ethical conduct and professionalism in the real estate industry. Not all real estate agents are REALTOR®s, but all REALTOR®s are real estate agents.
• Code of Ethics: REALTOR®s are obligated to follow a comprehensive Code of Ethics and Standards of Practice, which includes principles of honesty, integrity, and client confidentiality. They are held to a higher ethical standard.
• Membership: To become a REALTOR®, a real estate agent must join their local NAR association and adhere to its rules and ethics standards. This typically involves paying membership fees.
• Additional Training: Some Realtors may choose to pursue additional training and certifications offered by the NAR or other organizations, demonstrating their commitment to professional development.
While both real estate agents and REALTOR®s can help you buy or sell property, the term “REALTOR®” emphasizes a higher level of ethical commitment and professionalism. It’s essential to work with a reputable and experienced real estate professional, whether they are a REALTOR® or a licensed agent, to ensure a smooth and ethical real estate transaction.
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