Difference Between a REALTOR® and Real Estate Agent
A REALTOR® is a member of the National Association of REALTORS® (NAR) and the Pennsylvania Association of REALTORS® (PAR). Many are also part of local REALTOR® groups such as the Greater Harrisburg Association of REALTORS®. Also, realtors adhere to a strict Code of Ethics, which sets higher standards for honesty and integrity in business. This distinction is important because it assures that your REALTOR® is committed to conducting business with the highest levels of professionalism and ethical standards.
REALTORS® Code of Ethics
The REALTOR® Code of Ethics, set by the NAR, is a comprehensive document outlining the professional responsibilities and ethical obligations of REALTORS®. This code covers a range of topics including loyalty to clients, the obligation to present all offers, and the duty to avoid exaggeration and misrepresentation. It is a significant factor that sets REALTORS® apart, ensuring they conduct their business with the utmost integrity and professionalism.
Types of REALTORS® and Real Estate Agents
Specialized Real Estate Agents
The real estate market is diverse, and as such, some agents choose to specialize in specific niches. Specializations such as Senior Real Estate Specialists (SRES) cater to the unique needs of senior citizens. In addition, a Spanish-speaking agent is crucial in serving the Hispanic community effectively. Also, other agents may focus on luxury properties, commercial real estate, or specific geographical areas. Lastly, these specialized licenses and skills ensure that every client’s unique needs are met with the highest level of expertise.
Buying Agent vs Listing Agent
In the realm of real estate, agents typically specialize as either buying agents or listing agents, though some serve as dual agents.
A buying agent focuses on assisting buyers in finding their perfect home. Also, buying agents help you find and secure a home that meets your needs and budget.
On the other hand, a listing agent helps the home seller market and sell their home. In addition, they offer expertise in home valuation, marketing strategies, and negotiation tactics.
A dual agent, while less common, represents both the buyer and seller in the same transaction. This offers a more streamlined process, however, it requires careful management of potential conflicts of interest.
Real Estate Agent and Real Estate Broker Differences
The difference between a real estate agent and a real estate broker is another crucial consideration. While all brokers can act as real estate agents, not all agents are brokers. In addition to real estate training, brokers have undergone additional training and licensing.
A real estate brokerage normally includes multiple real estate agents or REALTORS®. In addition, the brokerage itself acts as a guide for agents, helping them make the process as smooth as possible. So, when you contact a real estate brokerage like Century 21 Realty Services, you have the opportunity to choose from a diverse pool of agents. Ultimately, ensuring you find the perfect match for your real estate needs.
Which is Best for You?
For your real estate transaction, it is ideal to work with a REALTOR® that you trust. All agents at Century 21 Realty Services are also required to be REALTORS® as we value the high standards that are necessary from the association.
However, many people know real estate agents that they know and love. The most important part of selecting a REALTOR® or real estate agent for your home-buying or home-selling needs is to find someone who fits your communication style and whom you trust. You can view our detailed article on this matter called “How to Find the Right Real Estate Agent for You.”