DIFFERENCE BETWEEN REAL ESTATE AGENTS, BROKERS, AND REALTORS®

Real estate pros go by many names and titles, three of which are real estate agent, broker, and Realtor. They all deal with the buying and selling of real estate, but are they different? Do they work together? Continue reading to get your questions answered.

WHAT IS A REAL ESTATE AGENT?

An agent is someone who has a real estate license. Agents rent, buy, and sell property for their clients. There are also different types of agents, including buyer’s, dual, listing, and transaction.

WHAT IS A REAL ESTATE BROKER?

A broker is a real estate agent who also has a broker license. Brokers can be labeled designated, associate, or managing.

SO, WHAT’S THE DIFFERENCE BETWEEN A REAL ESTATE AGENT AND A BROKER?

The main difference is that brokers can own a real estate company and/or hire other agents to work for them. In other words, brokers can do everything agents can, but they also negotiate, arrange, and oversee real estate transactions, in addition to being able to own or manage brokerages.

WHAT IS A REALTOR®?

Realtors—with a capital R and a “®” next to it–can be an agent or a broker. The Realtor® title comes from another certification, called the NAR Realtor® designation. NAR’s (National Association of Realtors®) certification means that an agent has an impeccable professional record. As Fortune Builders says, “All Realtors® are required to adhere to an extensive Code of Ethics.”

SO, IF YOU’RE BUYING OR SELLING YOUR HOME, WHO SHOULD YOU WORK WITH?

We suggest you start by finding a broker you trust. Read online reviews, talk to your friends, family, and coworkers, and ask potential broker partners lots of questions. Once you have your brokerage firm chosen, talk to their best agents to find one with the experience that fits your needs. If you’re looking for a home in certain part of Madison, ask your broker who’d be the best fit. Lastly, if you’re looking for a little extra peace of mind, opt for an agent with the Realtor title—that way, you’ll know you can trust them to do great work for you.

If you’re on the hunt for an experienced, trustworthy brokerage firm, you’re in the right place. Our Realtors know the Madison area top to bottom and are ready to help you buy, sell, invest, and more. Give us a call today at (608) 957-2683.