REALTOR® A Definition, And Facts About Them

A REALTOR^® is a real estate agent who is a member of the National Association of REALTORS^® (NAR). This means they are required to follow a code of ethics outlined by NAR.

Real estate agents aren’t the only real estate professionals who can be members of NAR. Real estate brokers and property managers can, too. Regardless of what type of real estate work they do, a member of NAR comes with advantages for the clients they serve.

Staying up to date on the latest in real estate trends and leveraging the expertise of a network of agents across the country are two key features found in NAR members. In addition, members are held to a high standard of integrity that they must adhere to when serving their clients.

What Does A REALTOR® Do For Buyers And Sellers?

For homebuyers, a REALTOR® offers a variety of services geared toward getting them into their next home. First, they can recommend a lender to help buyers get preapproved for a loan. This is an important first step so buyers get an understanding of what they can afford before they go home shopping. It also allows them to move quickly if they find a home they like because a preapproval letter is needed to submit an offer.

REALTORS® also help buyers find homes to look at, negotiate offers on homes they are interested in, attend the home inspection, and finalize everything before closing. From start to finish, REALTORS® help homebuyers navigate the complicated and exciting home buying journey.

For home sellers, a REALTOR® does everything a homeowner needs to get their home sold at a price they are comfortable with in a reasonable amount of time. This includes pricing the home correctly, making sure the buyer is qualified, getting the best possible price for the home, and taking care of all the subsequent steps to make sure the sale gets finalized.

Real Estate Agent Vs. Broker Vs. REALTOR®: Meanings

Understanding the definitions of a real estate broker versus agent versus REALTOR® is useful during any real estate transaction. These people are all real estate professionals, but they aren’t interchangeable.

REALTOR® Vs. Real Estate Agent

A real estate agent is someone who helps people navigate the process of buying and selling property. A REALTOR® is a real estate agent who is a member of the National Association of REALTORS®. This is an important distinction because of the ethical standards REALTORS® are held to by NAR, as previously mentioned.

Are All Real Estate Agents REALTORS®?

Not all real estate agents are REALTORS®, but all REALTORS® are real estate agents. Only real estate agents who are members of NAR can be considered REALTORS®.

REALTOR® Vs. Real Estate Broker

A real estate broker is a real estate agent who has been practicing real estate long enough to become a broker. They also need to pass a broker’s exam and obtain a broker’s license. Real estate brokers typically have their own real estate brokerage and recruit other real estate agents to work for them. Real estate brokers can also be members of NAR, just like REALTORS®.

Real estate brokers also maintain their status as a real estate agent or REALTOR® after they become a broker. They usually continue to help their clients buy and sell property while at the same time managing the other agents at their brokerage.

The Bottom Line: A REALTOR® Can Help You Through The Home Buying And Selling Process

A REALTOR® is an excellent resource for you to use when buying and selling a home. From listing a property, to finding a home, to securing financing, to navigating the plethora of hurdles on the way to the closing table, they are there for you every step of the way.

A real estate agent can get some of these things done for you, but they don’t have the code of ethics and continuing educational requirements that REALTORS® have. NAR holds their members accountable, ensuring that they provide clients with the highest levels of service in the real estate industry. Ready to get going on a real estate transaction with a REALTOR®? Work with a Rocket Homes^SM Verified Partner Agent to get started!