People often used the titles real estate agent and realtor interchangeably when they’re referring to anyone that’s in the business of helping people to buy and sell real estates. However, the two titles don’t refer to the same people. Not all real estate agents are realtors and not all realtors are real estate agents. It can get confusing for people that are not a member of the industry, especially since the one agent can sometimes have both titles. What makes the two titles different?
Real Estate Agent
A real estate agent refers to someone with a license to help people buy and sell their real estate properties whether it’s residential or commercial. These agents can work as either as sales professionals, an associate broker or a broker.
Real estate agents have completed at least 30 hours of classroom instruction. Then, they have to pass a state exam before getting their license. These licenses have to be renewed every year or every two years, depending on the state. Some states require further classroom instructions each time a person wants to renew their real estate license.
Corona Del Mar Realtor
A realtor is not necessarily a real estate agent, but they often are. All realtors work in the real estate industry as well. However, some of them may be home appraisers, property managers, real estate brokers and real estate managers. The one thing they have in common is being a member of the NAR. NAR is a huge trade association in the United States.
Agents that wish to become realtors have to first join their local real estate association. So, an agent who wishes to become a Corona Del Mar realtor has to join a real estate association in Corona Del Mar that is part of NAR. In order for the firm to be approved as one of NAR’s associations, every agent in the firm has to become a realtor.
Before receiving approval into the association, all agents have to agree and subscribe to Realtor’s Code of Ethics. This code of ethics is what separates realtors from other agents in the real estate business.
