Too often, the terms real estate agent, real estate broker and REALTOR® are utilized conversely by individuals who don’t have the foggiest idea on how they are used. So how about we clear this from the start.
A real estate agent is any individual who’s taken some essential instructional courses and afterward has applied for, and finished, a state authorizing test. Fundamentally, anybody can turn into a realtor and keep on rehearsing as long as they hang their business permit with an authorized intermediary.
They’re additionally required to take a set number of continuing education courses in order to keep their license up to date.
A real estate broker, on the other hand, is required to take an extra number of classes in different subjects in order to qualify to sit for the broker license exam. In contrast to a real estate agent, brokers can open their own office and sell land without affiliating with any other individual.
Brokers are likewise required to take continuing education training courses so as to keep their license in good standing and meet different necessities that are past the extent of this article.
Both a broker and a real estate agent, when authorized, can lawfully speak to purchasers and sellers in land exchanges. In any case, what they can’t do is consider themselves a REALTOR® except if they’re a paying member of the National Association of REALTORS® (NAR) and follow the exacting Code of Ethics portrayed by that association.
NAR likewise claims the REALTOR® trademark, and it pays attention to infringement of that trademark very closely.