What is the difference between Real Estate Agent, Broker and Realtor
If you desire to purchase a new home, you no doubt have many questions, even if this isn’t your first home purchase. It will make a significant difference if you have a Real Estate partner on your team, and the earlier in the process you align with one, the better!
The terms Agent, Broker and Realtor all have educational requirements.
What is a Real Estate Agent?
Real Estate Agents have a professional license. They are required to have pre-licensing training and depending on which state they live in the training hours do vary. Once the training is completed, they will take a written exam and once they pass this exam they have earned a license for that state and the title of Real Estate Agent.
What is an Realtor?
A Realtor is a licensed agent that also is a member of the National Association of Realtors. They subscribed to a set of standards and its code of ethics. The NAR holds Realtors to a higher standard of practice.
Listing Agent- represents a home seller
Buyer Agent- works with and can represent a home buyer through every step of the home purchase
What is a Real Estate Broker?
A Real Estate Broker is someone who has taken education beyond the agent level as required by states and passed a broker’s license exam. To sit for the Broker’s exam, Real Estate Agents must already have acquired a certain level of experience, generally 3 years of agent experience. Brokers can work independently and hire real estate agents to work with them.
There are three types of Brokers.
- Managing Broker- will oversee day-to-day duties of Real Estate office
- Principal Broker-every Real Estate Office has one. Oversees all Real Estate Agents
- Associate Broker-is a Real Estate Professional and works under a Managing Broker
How do you find the right “fit” for you?
Ask for referrals from family and friends. Referrals are a best practice I work hard to attain from every client I work with! A referral is the best compliment a client can give. If you receive a referral, you should be confident the person giving you that name had a great experience!
Set up “get to know you” interview calls with several agents. I love having the opportunity to get to know my clients before I get to work with them. It reassures us both we are committed to the partnership and the process.