Realtor vs. Real Estate Agent: What’s the difference and How to Choose one?
Before someone can hold him or herself out as a “Real Estate Agent,” he/she must be licensed by the state in which he/she plans to work, either as an agent/salesperson or as a broker. Before a license is issued, minimum standards for education, examinations and experience, which are determined on a state by state basis, must be met. After receiving a real estate license, most agents go on to join their local board or association of REALTORS® and the NATIONAL ASSOCIATION OF REALTORS®, the world's largest professional trade association. They can then call themselves REALTORS®. An agent may still practice Real Estate without being a REALTOR®, however this means that the agent has not completed the steps in becoming a REALTOR®.
A REALTOR® is held to an even higher standard of conduct under the NAR’s Code of Ethics. In recent years, state laws have been passed setting up various duties for different types of agents. As you start working with a REALTOR®, ask for a clear explanation of your state's current regulations, so that you will know where you stand on these important matters. 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 its strict Code of Ethics (which in many cases goes beyond state law). In most areas, it is the REALTOR® who shares information on the homes he or she is marketing, through a Multiple Listing Service (MLS). Working with a REALTOR® who belongs to an MLS will give you access to the greatest number of homes.
As a consumer, you are not bound to choosing only REALTORS® or Agents, you may work with either. There are many excellent agents that are not REALTORS®, however read on to discover some strategies in choosing the best REALTOR® or Agent for you. Real Estate Agents, whether REALTORS® or not, are bound by certain legal obligations. Traditionally, Agents must consider and weigh your interests ahead of anyone else's; maintain the confidentiality of your information; obey your lawful instructions; be responsible for reporting anything that may be useful or of consequence to you; and account for any money involved in your transaction
CRESTICO is a full-service Real Estate Brokerage and Mortgage Lending firm in Los Angeles, California.
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