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Charlotte, Home Buyer in Paris, France

what's the difference between, realtors, agents, brokers?

Asked by Charlotte, Paris, France Wed Jan 16, 2008

what's the difference between, realtors, agents, brokers?

first time buyer in US

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To add on to what has been said, Realtor is a trademark of NAR. Not all real estate agents are Realtors. Realtors answer to a Code of Ethics, real estate agents do not.
Web Reference: http://GailGladstone.com
0 votes Thank Flag Link Wed Jan 16, 2008
Hi Charlotte,

Agents are people who have passed a state exam and received a license to engage in the practice of real estate for a given state.

Brokers are people who have passed a state exam and received a broker's license for a given state. Many times the requirements for becoming a broker include having been an agent for a certain number of years. When you are a broker you can then open your own real estate brokerage. Although you can be a broker and simply work for another broker, which is what many brokers do. It is often seen not only as a stepping stone but as an indicator experience and knowledge.

As for a Realtor, I took this directly from the Realtor.com site:
" A real estate agent is a REALTOR® when he or she is a member of the NATIONAL ASSOCIATION OF REALTORS®, The Voice for Real Estate® -- the world's largest professional association.

The term REALTOR® is a registered collective membership mark that identifies a real estate professional who is a member of the NATIONAL ASSOCIATION OF REALTORS® and subscribes to its strict Code of Ethics.

Founded in 1908, NAR has grown from its original nucleus of 120 to today's 720,000 members. NAR is composed of residential and commercial REALTORS®, who are brokers, salespeople, property managers, appraisers, counselors and others engaged in all aspects of the real estate industry. Members belong to one or more of some 1,700 local associations/boards and 54 state and territory associations of REALTORS®. They can join one of our many institutes, societies and councils. Additionally, NAR offers members the opportunity to be active in our appraisal and international real estate specialty sections.

REALTORS® are pledged to a strict Code of Ethics and Standards of Practice. Working for America's property owners, the National Association provides a facility for professional development, research and exchange of information among its members and to the public and government for the purpose of preserving the free enterprise system and the right to own real property. "

Realtors are agents who have
0 votes Thank Flag Link Wed Jan 16, 2008
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