A recent article that appeared in the Washington Examiner discusses a topic that many people want to know: what is the difference between Realtors®, real estate agents and real estate brokers? With the federal tax credit drawing more and more first-time home buyers to the real estate market, many people have no idea about what differentiates one type of real estate professional from another. Here are some brief explanations of the differences:
- Real estate agents – real estate agents have passed any licensing requirements of the state or states where they conduct business. They have also passed the real estate exam issued by the state or states as well as a national exam.
- Real estate brokers – brokers are real estate agents who have several years of experience selling real estate, have passed additional education courses and have passed their state’s real estate brokers exam. They are licensed to buy and sell real estate and are able to open their own real estate business.
- Realtors® – A realtor is a real estate agent who has taken additional classes on real estate ethics, is a member of the National Association of Realtors® and agrees to uphold the stringent business principles outlined in the ethics class.
Most real estate agents take the extra classes and invest the time to become Realtors®, but there are several different ways that a Realtor® or real estate agent can perform their duties. The majority of real estate professionals are independent contractors who are professionally affiliated with a real estate firm. It can be a difficult business to gain traction in, as most home buyers and sellers prefer to work with real estate agents with many years of professional experience. Instead of relying solely on experience, home buyers and sellers should seek out a Realtor® with whom they are comfortable. When you need an all-around Louisville real estate agent who has the knowledge and experience in real estate transactions, rely on LouisvilleProperties.com to make the process fast and easy! To contact Louisville Properties, call 502.744.9504 or fill out the contact form.
