What Is a Realtor?
Photo by NAR
Realtor, real estate agent, salesperson, broker – there are many names and although there is a lot of overlap in the responsibilities of these roles, there are significant differences. And how do you choose the right Realtor for you? Thanks to this realtor.com article, we can help explain the differences and give you a list of questions you should consider when “shopping around” for your perfect Realtor!
Realtors are licensed real estate agents that belong to the National Association of Realtors (NAR), the largest trade group in the nation. Every real estate agent is not a Realtor, but most are. Realtors are held to a higher ethical standard than real estate agents and must adhere to a Code of Ethics. All three of our Neighborhood Realty agents are Realtors!
There are several reasons you should buy or sell with a Realtor, including the high ethical standards mentioned previously, wide network, access to market data, and searching and negotiating expertise. Most Realtors are also members of their local boards. (Our Neighborhood Realtors are members of the North Central Mississippi Board of Realtors.) These memberships provide continuing education classes and seminars to help fine-tune a Realtor’s skills. Plus, Realtors have access to the forms and disclosures that buying and selling a home requires.
Are Realtors also Brokers? They can be. A Broker owns their own real estate company or manages a large franchise company and has real estate agents under them as salespeople. A real estate agent or salesperson sells or represents a buyer on behalf of their broker. It is also worth mentioning that some Realtors have a broker license, but choose to work as a salesperson and not manage other agents. These real estate professionals are sometimes referred to as broker associates.
So, how do you find the right Realtor or real estate agent for you? Referrals are always great and don’t be afraid to ask the tough questions. And it’s always a good idea to speak with at least 3 agents – you want to find the Realtor that works best for you and your real estate needs.
Consider the following questions:
How long have you been in the real estate business?
What’s your schedule and availability?
How many houses did you sell last year?
Are you a member of the National Association of Realtors?