If you are a newbie to the world of real estate, you would probably be wondering what the difference is between various industry titles being thrown around like realtor, broker, or salesperson. This might be a little bit confusing for someone who is not fully grounded in the profession, especially because some of these titles are used interchangeably, even though they have distinct differences. Thus is necessary to understand the distinctions between a realtor, estate agent and an estate broker, in order to get a better understanding of the type of real estate professional that may best suit your needs.
For the purpose of this article, we will be focusing on. Who a realtor is and other things you need to know about one.
What is a Realtor?
Simply put, a realtor is a real estate agent who is an actor. Member of the National Association of Realtors (NAR), which was founded in 1908. The National Association of Realtors (NAR). Stands as the largest trade association in the United States. Active real estate agents who desire to join the organization. Are expected to have a valid real estate license as well. As an immaculate professional conduct record. Real estate agents have an incentive to join. Because of their good reputation. Which can become attractive to more clients. All Realtors are to adhere to an extensive Code of Ethics. To enable consumers to feel at ease with the knowledge that they are working with. Agents who are dully vetted and have sworn to uphold certain professional standards.
As stated by NAR, about half of all real estate agents who are in the United States. Are certified, Realtors. Many real estate agents are known to tow this path owing to the organization’s active work in. Protecting the interest of its members. NAR as a trade association has strong bargaining power in both state and federal governments. Now this influence can be useful in obtaining better. Legal protections and benefits for Realtors across the country.
Even though it is not required to become a realtor, some real estate agents rather find this path, to be in their best interest
Realtors are quite different from real estate agents, in that, they abide by a code of ethics and 17 additional Articles.
How to Become a Realtor
To become a realtor:
- Firstly, start by identifying and joining the local chapter of the NAR in your county or state.
- Secondly, pay your dues so as to become part of the association.
- Thirdly, you are required to take and pass an online course on the Code of Ethics.
- Also, comply with the NAR’s standards of practice throughout your career.
- Then, retake the online course every four years, in order to maintain the certification.
How Many Realtors Are There?
The National Association of Realtors as earlier stated. Was founded in 1908 and has a membership strength. Numbering more than 1.4 million as of 2019. If it happens that an agent is not a member. It is often because they do not have enough business which justifies the expense of membership.