Real estate terms often confuse commons, mainly when people use them interchangeably. If you are someone new to real estate, you might have been confused about terms like realtor or real estate agent. However, both are licensed experts in their field to help you with your property hunt or home hunt. But they are distinct from each other in their qualifications. This blog has compiled the capabilities, similarities, and differences between real estate agents and realtors. Scrolling the blog to the end will help you to make a better choice between realtor and agent, wherever required.

Who is a real estate agent?

In the US, a real estate agent helps people buy and rent property, commercial and residential. They are licensed to help people buy, rent, or sell real estate properties. They might work for a sponsored broker or firm as real estate associates or salesperson. The ultimate purpose is to bring buyers and sellers together to catalyze the deal. Once the agreement is completed, they are given a commission. The commission is a part or share of the agreement price.

What are the requirements to become a real estate agent in the US?

To become a licensed real estate agent in the US, one must meet the following criteria.

1. Must be a legal citizen of the US.
2. Must be 18 or above.
3. Complete the required course and pre-licensing class.
4. Must appear and pass the real estate license exam.
5.  Sponsored by any real estate business, like a broker or firm.

Who is a realtor?

Like a real estate agent, one must complete a course and pass a licensing exam to become a realtor. On the other hand, a realtor in the United States is an active member of the National Association of Realtors (NAR). After participating in NAR, a realtor can work as a real estate or commercial broker, property counselor, manager, or appraiser. In other words, a realtor may be a real estate agent who is also an active member of NAR. Also, realtors have high work ethics and standards than their agent counterparts.

What are the requirements to become a realtor in the US?

To become a realtor in the US, the person must meet the following five criteria.

1. Hold a valid real estate license.
2. Must be practicing real estate business.
3. Must not hold any official record of unethical practice.
4. Must not file any pending or recent bankruptcy.
5. Must be a National Association of Realtors (NAR) member.

How to become a member of NAR?

In the US, joining NAR to become a realtor is mandatory. To join NAR, the candidate must pay a one-time application fee to register. Besides, all realtors should also pay membership dues yearly to maintain their realtor status.

Do you know that NAR is one of the most prominent trade associations in the US? All realtors agree to adhere to NAR’s code of ethics which requires them to put their client’s interests above their own. Further, they should practice transparent and honest conduct of business.

What is the difference between a real estate agent and a realtor?

We hope the concepts of the realtor and real estate agent are clarified from the above sections. Both are licensed and practice real estate business. A realtor can be an estate agent, but a real estate agent does not need to be a realtor. To be a realtor, he must join the National Association of Realtors (NAR).

Here is a comparison table to get a better understanding of the subject.

Which should I choose for my property deals: Realtor vs. Real Estate Agent

Now comes the main question, whom should you choose, a realtor or a real estate agent, to sign your property deal? Well, the choice between a realtor and a real estate agent depends on your needs and the professionalism level you demand. It would be best to consider interviewing multiple professionals before making your decision. You may count a few factors:

1. Licensing: Either choosing a realtor or a real estate agent, ensure that both must be licensed to practice real estate business in the US.
2. Professionalism: If you’re seeking an extra layer of professionalism, consider choosing realtors over real estate agents. As realtors are National Association of Realtors (NAR) members, they adhere to a strict code of ethics.
3. Expertise: You may also consider and compare the experience between your choices. Go through their client testimonials and work portfolio before making a final decision.
4. Industry skills: The real estate sector requires practitioners to possess skills like negotiations, effective communication, etc. To sustain in the market, you must choose someone who is a brilliant communicator and knows about market analysis and research.
5. Networking: For making any property deal, finding someone with a broader network and connections in the industry is crucial. Realtors may have wider connections because of their association with NAR.
6. Behavior and compatibility: A deal in real estate can be a time taking and energy-draining process. Thus, choose someone you’re comfortable working with to stay productive throughout the deal cycle. You should always prefer someone who understands your needs and preferences.

When choosing between a realtor and a real estate agent, consider your specific needs, preferences, and the level of professionalism you desire. Conduct thorough research, interview multiple professionals, and make informed decisions aligning with your property goals.

In summary, while both realtors and real estate agents are licensed professionals, the key distinction lies in their affiliations and the additional benefits that realtors bring to the table. Realtors, as members of the NAR, adhere to a strict code of ethics, have access to valuable resources, and offer a higher level of professionalism. Hiring a realtor can provide expert guidance, extensive networks, and effective negotiation skills, streamlining your property transaction process.