Many people unfamiliar with the real estate industry use the terms Real Estate Agent, Broker and Realtor interchangeably. There are differences between the three titles, however, the most important being the services each real estate professional offers to those in need of real estate services.
A real estate agent is a real estate professional who has taken and passed all required real estate classes and passed the real estate licensing exam in the state in which he or she intends to work. Agents are also referred to as real estate associates. Agents are licensed salespersons. They are not real estate brokers. A real estate agent must work for an employing broker and cannot work independently. Brokers are responsible for their real estate agents’ actions.
A REALTOR® can be a real estate broker or a real estate agent. To become a member, a real estate agent has to agree to abide by the association’s standards and uphold the code of ethics. Not every real estate agent belongs to NAR.
A real estate broker has continued his or her education past the real estate agent level and passed the real estate broker license. Real estate brokers can work as independent real estate agents or have other agents working for them.
The biggest distinction between the three is that a broker can work on his or her own, while an agent or associate has to work under a licensed broker. Real estate brokers can work as agents but agents cannot work as a real estate broker without a broker’s license.
Here at LuvNaples, out team is made up of Realtors and Brokers. Thank you for allowing us to help you with all your Real Estate Needs.