Real Estate Agents vs REALTORS® – What is The Difference?
People use the terms REALTOR® and Real Estate Agent interchangeably, but did you know there is a difference!
Even though both are licensed to sell real estate, the basic difference between a real estate agent and a REALTOR® is that a REALTOR® is a member of the National Association of REALTORS®. Being a member of the National Association of REALTORS® means the REALTOR® must subscribe to and abide by a strict REALTOR® Code of Ethics. This Code of Ethics is a living, dynamic statement that has moved with the times, updating annually to guide REALTORS® in their daily professional lives and is the cornerstone of the National Association of Realtors ethics training. It guides REALTORS® and shows consumers the level of education, dedication and commitment to the Real Estate profession each member of NAR possesses.
Real Estate Agents vs REALTORS® – How does this difference benefit the consumer?
When you are making the biggest purchase of your life, it helps to know that you have a trusted professional on your side. Realtors have training in ethics for both their dealings with the public and with the real estate community. The REALTOR® Code of Ethics consists of 17 Articles and related Standards of Practice. It’s not just a collection of rules that agents swear to uphold and adhere to. The Standards are much more restrictive and confining as to conduct than those governing a Real Estate Agent that simply holds a real estate license. As an example the code’s articles include things like:
- Realtors protect and promote their clients’ interests while treating all parties honestly.
- Realtors refrain from exaggeration, misrepresentation, or concealment of pertinent facts related to property or transactions.
- Realtors cooperate with other real estate professionals to advance their clients’ best interests.
- When buying or selling on their own account or for their families or firms, Realtors make their true position or interest known.
- Realtors make sure that contract details are spelled out in writing and that parties receive copies.
- Realtors give equal professional service to all clients and customers irrespective of race, color, religion, sex, handicap, familial status, national origin, or sexual orientation.
- Realtors paint a true picture in their advertising, marketing, and other representations.
- Realtors make only truthful, objective comments about other real estate professionals.
Real Estate Agents vs REALTORS®
While there is no evidence nor guarantee that all REALTORS® are morally or ethically better than unaffiliated Real Estate Agents, it is a major effort by the industry to regulate and guarantee fair dealings with Clients, the public, and other Realtors . . . and clearly deserves recognition.
By selecting a REALTOR®, consumers are choosing a professional that voluntarily holds to a high ethical standard. Team members of the TCR Group proudly hold the title of REALTORS® that live by the code.