The real estate market is filled with different terms that may get confusing for beginners. If you’re getting started in the real estate world, you may have come across the terms “Real Estate Agent” and “Realtor.”
Many people confuse the terms, and though they’re similar, there’s a key difference between the two. The following article will answer the question: Are real estate agents and Realtors the same thing?
Keep reading to know the answer!
Are Real Estate Agents and Realtors the Same?
Technically speaking, real estate agents and Realtors are not the same. While Realtors are real estate agents, real estate agents aren’t Realtors, at least in the licensing department.
The primary difference between these two terms is the certifications required. In essence, a Realtor gets certification from the National Association of Realtors (NAR), which adheres to a particular Code of Ethics.
On the other hand, real estate agents must pass an exam from the state after taking a course. While real estate agents are not part of the National Association of Realtors, they must study local, state, and national guidelines regarding the real estate market.
Are Realtors Better than Real Estate Agents?
While Realtors comply with higher standards of ethics, it doesn’t mean that they’re necessarily better than real estate agents. Keep in mind that both parties are licensed to sell real estate. The main difference is that a Realtor is part of the NAR.
Some people may prefer to work with a Realtor due to the extra certification and higher standard of ethics that they offer.
What Do You Need to Become a Real Estate Agent?
Becoming a real estate agent requires the following:
- Studying the local, estate, and national real estate guidelines and laws through approved education courses.
- Passing the real estate license exam.
- Applying for a real estate license.
What Do You Need to Become a Realtor?
To become a Realtor, the person must do everything mentioned in the real estate agent requirements, as well as:
- Join the local NAR chapter in their locality.
- Pay the required dues.
- Pass the Code of Ethics course.
- Comply with the NAR’s standards of practice.
Becoming a Realtor isn’t necessary to sell real estate, although many people in the country prefer to do it due to all of the benefits and influence it brings. However, both parties are licensed to sell real estate, so people may decide to go with the option that best fits their needs.
To summarize, a real estate agent and Realtor do the same thing, which is selling real estate. The difference is that a Realtor abides by a Code of Ethics, 17 other articles, and guidelines from the NAR.
In any case, people should make sure they’re working with a professional in the market, whether it’s a real estate agent or a Realtor. The licensing requirements are hard for both, so these are certainly professionals that can be trusted.