Realtor? Agent? Broker? Whats the Difference?

  A real estate agent is a professional who assists in the buying and selling of properties, and has obtained a real estate license to do so. Real estate agents can work with residential properties, commercial properties, investments and land depending on their specialty. Agents can also practice with a certain focus like a listing or buyers agent, as well as a rental agent or property manage. 

A  REALTOR® is a real estate agent who is an active member of the National Association of Realtors (NAR). Another way REALTORS® differ from real estate agents is a REALTOR® must abide by the Realtor® Code of Ethics, which includes 17 articles. The 17 Articles of the Code of Ethics contain various underlying Standards of Practice. 

 A managing broker is a professional who has taken additional education. The difference between broker and Realtor is more closely related to the roles and responsibilities handled by each professional.  Brokers are also knowledgeable in real estate legal issues and how the law applies to operating a brokerage, real estate investments, construction, and property management. While brokers can become Realtors, and vice versa, the two terms are not interchangeable. 

There are certainly people who are capable of selling their own homes, but the process isn't as simple as many people think. When you get into a difficult situation, it pays to have a professional on your side. The agent is bound by their license/law to act in their clients' best interest. They  must adhere to a strict code of ethics, which is based on professionalism and the protection of the public. As a client, you can expect honest and ethical treatment in all transaction-related matters. 

 A knowledgeable expert will help you prepare the best deal, and avoid delays or costly mistakes. There’s a lot of mumbo jumbo involved, so you want to work with a professional who can speak the language. Never bring a fist to a gun fight! You want someone who is prepared to deal with out-of-the-box offers that can be difficult: all-cash offers, bidding wars for the home, low-balling offers, and more. Professional real estate agents are skilled negotiators who will always strive to get the best possible price. 

Buying and selling a home usually requires dozens of forms, reports, disclosures, and other technical documents. An experienced real estate professional deals with all these forms on a regular basis and is familiar with the conditions of how they should be used and how to use the contract to protect you, whether you're buying or selling your home.