Whenever a person is looking to buy a house or other type of property, they will look to seek assistance from a real estate agent, broker or realtor. People who are looking to find the best realtor will often want t know the difference between the a realtor and a real estate agent. The differences between agents and realtors will often depend on a number of factors. These factors often include the commission splits, the type of real estate professional that they are and also their status as a broker or an agent. Knowing these differences can help a person find the top real estate agencies in their area who will best meet their needs.
WHO IS A REAL ESTATE AGENT?
A real estate agent is a licensed professional who is authorized to represent buyers and sellers in a real estate transaction. An agent is tasked with helping buyers find a home, negotiate a price, make an offer and then close the real estate transaction. They may also assist a person who is looking to sell their property. Again, an agent will negotiate a sales price, talk to buyers and also help a seller stage their home for the sales process. Therefore, a real estate agent is a trusted professional who is available to help someone complete the steps necessary to close any type of real estate transaction.
WHO IS A REALTOR?
A realtor is a word that is used to describe either a real estate agent or a broker. Like agents and brokers, a realtor is someone who represents buyers or sellers in a real estate transaction. They are tasked with the same things as an agent or a broker when it comes to finalizing a real estate sale. They will be able to market the property, arrange pricing, stage the home and also negotiate prices and terms for any real estate sale. Therefore, a realtor is quite valuable when looking to buy or sell a home.
WHAT IS THE DIFFERENCE?
The main difference between real estate agents and realtors is that a realtor is affiliated with the National Association of Realtors. They are agents or brokers who have joined this organization and are therefore a member of one. As a realtor, they are able to provide a valid credential to clients. These professionals are able to prove to clients that they are among the most reputable and trusted real estate professionals in the nation. Therefore, people who are looking to work with the most reputable real estate professionals will often want to work with a realtor.
AGENT OR BROKER
When looking to find out more about a realtor, many people will wonder whether or not they are a broker or an agent. Many realtors are either one as they are affiliated with the National Association of Realtors. A real estate agent can be called a realtor as long as they are a member of this national organization. Brokers can also be a realtor if they are registered with and a member of the organization.
COMMISSION SPLITS
Anytime you work with a real estate agent or realtor, you will often consider the commission that you need to pay. Real estate agents and realtors receive a percentage of the total sale price when completing a real estate transaction. In most case, the commission is split at 3% for both the buyer agent and the seller agent. For realtors, the commission is the same. They receive a percentage of the sale price whenever they help someone sell or buy a home. With the same commission splits, there is no difference between realtors and real estate agents when it comes to compensation.
BUYER OR SELLER AGENT
A real estate agent represents either a buyer who is someone looking to purchase real estate or a seller someone who is looking to sell real estate. When it comes to realtors, they can be either represent the buyer or the seller. They regularly help people buy or sell homes just like agents and brokers. Therefore, when it comes to representation of buyers and sellers, there is no difference between agents and realtors.
SERVICES OFFERED
As stated earlier, real estate agents and brokers offer certain services that help people complete real estate transactions. Realtors provide these same exact services as well. A realtor will represent a buyer of a home. They will offer services such as negotiation, a market analysis, provide showings of properties and also make recommendations on what to look for in a home. A realtor who represents a seller will showcase the home, hold open houses, show the home to prospective buyers and also make recommendations to the seller on things such as price and maintenance.
SUMMARY
Anytime someone is looking to buy or sell a home, they will often rely on the expertise of a real estate agent or broker. At times there can be confusion for consumers as they wonder what a realtor is and how it differs from agents and brokers. The main difference between realtors and agents is that a realtor is just a member of certain organizations while an agent isn’t. Other than this, there is no difference between the two as either an agent or a realtor can help you with the process of buying or selling a home.
