What is a Realtor?

A Realtor is a licensed real estate professional who is a member of the National Association of Realtors (NAR). Realtors adhere to a strict code of ethics and professional standards, providing services in buying, selling, or renting real estate properties. They have access to resources such as the Multiple Listing Service (MLS) and market data, and offer negotiation skills and marketing expertise to assist clients in navigating the real estate market.

The terms "realtor" and "real estate agent" are often used interchangeably in everyday conversation, but there are specific distinctions between them in terms of affiliation, ethics, and sometimes qualifications.

Real Estate Agent

A real estate agent is a professional licensed by the state to represent buyers and sellers in real estate transactions. Most agents work on a commission basis, and their primary role is to help clients buy, sell, or rent properties. To become a real estate agent, an individual must:

1. Complete Pre-Licensing Courses: The required number of hours and the curriculum vary by state.
2. Pass a State Licensing Exam: This exam covers national and state-specific real estate laws and practices.
3. Work Under a Broker: Newly licensed real estate agents must work with a broker who oversees all transactions and ensures that the agents comply with real estate laws.

Realtor

A realtor is a real estate agent who is a member of the National Association of Realtors (NAR), the largest trade association in the United States. Realtors can include agents, brokers, property managers, and other real estate professionals. Being a realtor means adhering to a strict code of ethics, which includes a commitment to being honest and fair in all real estate transactions, and putting the clients’ interests ahead of their own. Here’s what distinguishes a realtor:

1. Membership in the National Association of Realtors (NAR): To become a realtor, a real estate agent must join the NAR and pay annual dues. Membership requires adherence to the NAR’s Code of Ethics.
2. Code of Ethics: This is a comprehensive document that outlines duties to clients and customers, the public, and other realtors. It is more restrictive and detailed than the standard state regulations governing real estate agents.
3. Access to Resources: Realtors have access to real estate market data, educational opportunities, and transaction management services provided by the NAR, which can enhance their professionalism and effectiveness.

Credentials and Continuing Education

Both realtors and real estate agents are required to engage in ongoing education to maintain their licenses. This education helps them stay up to date with real estate laws, regulations, and market trends. However, realtors often have additional training opportunities available through the NAR, which can include specialized certifications in areas like residential or commercial real estate, representing buyers, and real estate management.

Conclusion

While all realtors are real estate agents, not all real estate agents are realtors. The distinction lies in the membership with the NAR and adherence to its Code of Ethics. This ethical commitment provides an additional layer of trust and assurance for clients seeking real estate services, making realtors a preferred choice for many buyers and sellers. Regardless of the title, both realtors and real estate agents play essential roles in helping clients navigate the complexities of real estate transactions.