Realtor® vs. Real Estate Agent

by Sharon Hassler, President, Go Get Experts

Realtor®. When you see the term Realtor®, it means a member of the National Association of Realtors®, which is a real estate trade association. Every Realtor® is a real estate agent but not every licensed real estate agent can claim the designation of Realtor®. Realtors® have access to many resources, including the multiple listing service. Realtors® agree to abide by a 17-article code of ethics and to strive for professionalism.

Real Estate Agent. A real estate agent completes a state-approved exam to become licensed by their state. They represent parties in transferring real property. A licensed real estate agent can join the National Association of Realtors® to receive the designation of Realtor®.

Listing Agent. When real estate agents contract with the homeowner to sell their property, they are called Listing Agents. If the Listing Agent is also a Realtor®, the property can be placed in the Multiple Listing Service so it is available to thousands of potential buyers.

Buyer’s Agent. A Buyer’s Agent, also called Buyer Broker is a real estate agent hired by the person searching for a new property. Usually, the Listing Agent will pay the Buyer’s Agent from the commission agreed to by the seller.

Multiple Lsting Service (MLS). Realtors® have the benefit of placing property information in a database called the MLS. This information is then available for viewing by every other Realtor® which greatly increases the number of potential home buyers who will learn about this listed property.

Here’s an excerpt from preamble to the Realtor® Code of Ethics:

The term Realtor® has come to connote competency, fairness, and high integrity resulting from adherence to a lofty ideal of moral conduct in business relations. No inducement of profit and no instruction from clients ever can justify departure from this ideal. In the interpretation of this obligation, Realtors® can take no safer guide than that which has been handed down through the centuries, embodied in the golden rule: Whatsoever ye would that others should do to you, do ye even so to them.

©Copyright Sharon Hassler. All rights reserved. Sharon Hassler is president of Go Get Experts, LLC, owner and operator of GoGetRealEstate.com, GoGetLoan.com, GoGetNotary.com and GoGetEscrow.com. A former loan officer and real estate agent in Southern California, she served as Communications Manager for First American Title-Arizona for 11 years. For more about Sharon, visit GoGetEscrow.com/Get/Sharon.