The terms “realtor” and “real estate agent” can sometimes be very confusing for anyone unfamiliar with the real estate industry. This confusion usually happens because people use the terms interchangeably and define them generically.
Although both terms refer to the sale and purchase of real estate, they differ in their specific responsibilities and educational requirements. Knowing their difference is handy, as you’ll know who to call, especially if you have plans on buying or selling a property.
Both a realtor and a real estate agent are licensed professionals who can help consumers buy or sell a property, whether it’s residential or commercial. To better understand their minute distinctions, let’s take a look at their varying responsibilities and membership requirements.
What Is a Real Estate Agent?
Real estate agents are certified professionals who assist people with home purchases and sales. Depending on what they specialize in, real estate agents can work with both residential and commercial properties. Given their education and specialized training, real estate agents are highly capable of representing both buyers and sellers in any real estate transactions.
Responsibilities of A Real Estate Agent
- Generate leads for customers looking to buy, sell, or rent a property
- Advise customers on prices, the market, and mortgages
- Compare properties to establish a fair market price
- Create lists of real estate selling properties that include details such as square footage, characteristics, and location
- Show homes to prospective tenants and buyers
- Present vendors with purchasing offers
- Assist in the negotiation of a price between buyers and sellers
- Review purchase agreements to confirm that conditions are met
- Promote homes through advertisements, listings, and open houses
- Compose deeds, leases, purchase agreements, rental agreements, and other legal papers for each real estate transaction
- Keep your real estate knowledge and license current
How to Become a Real Estate Agent
- Enroll in courses for real estate education that have been approved
- Take pre-licensing training
- Take the real estate licensing exam
- Obtain the minimum score required in the state where you plan to work
- Pass the written test
- To start working in the industry, submit an application for a real estate license
- To obtain experience, work with a real estate broker
- Maintain your education and renew your credentials as necessary
What Is a Realtor?
Generally, a real estate professional who is a member of the National Association of Realtors (NAR) is referred to as a “realtor.” Realtors are obligated to uphold the NAR code of ethics by their membership in the organization. Additionally, house appraisers, property managers, real estate counselors, and NAR-member real estate agents are all included under the umbrella word “realtor.” This expands the definition of “realtor” much beyond that of “real estate agent.”
Responsibilities of A Realtor
- Assess properties using extensive local real estate market knowledge
- Inspect houses before putting them up for sale
- Advise sellers to make upgrades that will make their houses more marketable and increase their worth
- Promote, market, and address the appropriate audience with each listing
- When necessary, hire experienced house stagers to make interior design modifications
- Arrange for open houses and showings
- Being the principal contact and lead negotiator for all legal documents, such as contracts, deeds, and closing statements
- Act as a buyer’s agent when required
- Put together formal, written offers for purchasers in response to a property inspection
- Guide and point buyers and sellers through the closing procedure to properly close transactions
How to Become a Realtor
- License for a broker or real estate agent
- Membership in the National Association of Realtors member (NAR)
- A history of successful real estate work
- Achievement in sales
- Independence of thought and action
- Excellent interpersonal abilities
- Strong communication, sales, and negotiation skills
- Ethical and responsible
- Knowledgeable about the markets and ideals for real estate
Find the Best Real Estate Agents at Team Garner Realty Group!
It doesn’t matter much which one you choose between a realtor and a real estate agent. If you want to buy, sell, or invest in a property, the right question to ask is, “Which real estate company has the experience and the heart to look out for the best interests of their clients?”
So, if you live in South Shore, Massachusetts, and need a team of real estate experts to help you sell, buy, or invest in a property, Team Garner Realty Group is the company to go with. We have the most experienced and skilled real estate agents in the area, all accomplished and dedicated to providing you with professional assistance.
We specialize in selling homes, land, and other types of assets in the South Shore, MA area. Since our realtors live in the area, they know all the little details about it better than anyone else.
Call us today at 781-829-4301, so we can help you with your next real estate transaction!