Whether you are selling or buying a home, hiring a competent real estate professional to assist you is a top priority. As you search for representation, you may come across agents with various titles. What is the difference between a real estate agent, REALTOR® or broker, and which one is right for you?
The terms REALTOR® and real estate agent are frequently used interchangeably, but that is incorrect. Not every real estate agent is a REALTOR®.
Real Estate Agent, Associate or Salesperson. If an individual holds a real estate license in the state in which you are buying or selling, he or she has earned the designation of real estate agent – and may also use the term real estate associate or salesperson. While requirements may vary from state to state, there is a minimum number of class requirements and a state test to be passed in order to earn a real estate license.
REALTOR®. The term REALTOR® is a registered collective membership mark that identifies a real estate professional who is a member of the National Association of REALTORS® and subscribes to the 17 Articles in the REALTOR® Code of Ethics.
To earn the REALTOR® designation has taken the requisite coursework and demonstrated specific skills, performance and knowledge in a particular area of the real estate industry.
Real Estate Broker. A broker has taken courses beyond the agent level that are required by state laws and has passed an additional broker’s license exam. Some brokers work independently, while others hire real estate agents to work for them. In a practical sense the Broker is usually referred to the as the manager as well. Every real estate offices is required to have a Real Estate Broker associated with the office. A broker bears responsibility for the actions of the real estate agents under his or her supervision.
Real Estate Associate Broker. An associate broker has taken additional courses and earned a broker’s license, but works under the management of another broker.
While individuals with any one of the previous designations will be qualified to help you buy or sell a property, performing your due diligence on their background is the most crucial aspect of hiring the right real estate representative. Conduct interviews, research sales track records and seek out references before hiring a real estate representative.
Wallingford PA Real Estate – Wallingford, PA 19086