The general public perceives that all Real Estate Agents are the same. That perception is wrong. This article aims to correct that notion by clearly distinguishing the similarities and differences between a Realtor and a Real Estate Agent. After reading this article, you should have a clearer picture of what is a Realtor and how they differ from an “ordinary” Real Estate Agent.
Let’s start with the similarities.
- Both Real Estate Agents and Realtors help their clients buy or sell Real Estate Properties. They guide their clients navigate through the complicated transactions until a deal is closed.
- They both need licenses in order to conduct their business operations legally.
- They are private contractors and only earn money in the form of commissions if they can successfully close a deal.
- No deals closed means no money earned. It’s in the nature of their jobs.
Now, the main difference between a Realtor and ordinary Real Estate Agents.
- Realtors are Real Estate Agents who belong to the National Association of Realtors.
So, what makes a Realtor so special as compared to any other “ordinary” Real Estate Agent?
Realtor is the title given to Real Estate Agents who choose to become members of the National Association of Realtors. Just like the title of Doctor given to individuals people who go on to practice the Medical profession for a living. The title of Attorney is given to individuals who wish to practice Law.
Doctors, Attorneys or Lawyers, or Engineers abide by a code of ethics that guides them in the way they do their work. Failure to comply with their respective code of ethics means revocation of their licenses. Once their respective licenses are revoked, they can no longer practice their profession legally.
It’s the same with Realtors. They must abide by the National Association of Realtors‘ strict code of ethics so as to remain a member of their prestigious organization. The group has been established for nearly 100 years. The code of conduct is updated regularly to meet the needs of our changing society. This is to ensure that Realtors continue to conduct business up to the highest standards. If a Client lodges a complaint about the way the Realtor conducted business, he could get punished for his actions and lose his title and privileges that go along with being a Realtor if found guilty of such charge.
So, if you’re planning to make any Real Estate move, you could not go wrong if you plan to work with your local Realtor. You’ll have peace of mind knowing they are held responsible for their actions. You can bank on their experience as they have access to useful resources that “ordinary” Real Estate Agents don’t have.
Allow me to ask you these questions now that you know your better option. Which would you prefer to help you the next time you make your move in the Real Estate game? A Realtor or an “ordinary” Real Estate Agent?
I hope you make the right choice.