Whether you want to buy or sell a home, you'll want some help. So who should you hire? A real estate agent, real estate broker, or realtor? Sometimes the lines between the roles of these individuals may get a little blurred.
While there may be overlaps in what they do, the three are distinctly different. Let us understand their difference below.
Real Estate Agent
A real estate agent is someone who has a professional license to help people buy, sell, or rent all sorts of housing and real estate. They are the industry professional who serves as the facilitator of real estate transactions.
Agents are responsible for carrying offers and counteroffers between each party, along with any queries they may have. An agent will work with another agent once an offer is accepted, guiding clients through the process of filling in paperwork.
Real estate agents work for brokers or agencies and are normally paid on a commission basis.
Real Estate Broker
A real estate broker is someone who continues their education past the real estate agent level and successfully receives a state real estate broker license.
Brokers who work with buyers normally look for properties that match the criteria set forth by their clients, conduct negotiations, prepare offers, and help the buyers with any other issues leading up to the closing date.
Like real estate agents, brokers receive a commission once a sale is completed.
Realtor
To become a Realtor—a licensed agent with the ability to use that widely respected title—an agent needs to be a member of the National Association of Realtors.
Realtors, regardless of their role, should be experts in their field and, as noted above, are bound by the association's code of ethics.
Whether you choose to hire a real estate agent, a realtor, or a broker, you should be careful. Hiring someone to represent your interests is one of the most critical aspects of buying or selling a home.
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