If you’re thinking of buying or selling a home, you’ll likely come across the terms “Realtor” and “Broker.” But what’s the difference between them? And which one should you work with? In this blog post, we’ll break down the differences between Realtors and Brokers, so you can make an informed decision when choosing a representation for your home sale or purchase. Stay tuned!
Who is Realtor?
Realtor is a title that refers to a real estate professional who is a member of the National Association of Realtors (NAR). Realtors are required to uphold high standards of ethical conduct and must adhere to a strict code of conduct. In addition, Realtors must complete ongoing education in order to maintain their status. Realtors are typically involved in all aspects of the real estate transaction, from helping buyers find properties to guiding sellers through the marketing and negotiation process. As such, Realtors play an important role in ensuring that real estate transactions are conducted smoothly and efficiently.
Who is Broker?
Broker is an online real estate brokerage that enables people to buy and sell homes without the need for a traditional agent. The company was founded in 2013 by Adi Tatarko and Alon Cohen and is based in Palo Alto, California. The broker offers a flat-fee commission structure, and allows users to search for properties, schedule showings, and make offers directly through the Broker website. The company is licensed to operate in all 50 states and currently serves over 1,000 markets across the United States. Broker has raised $12 million in venture capital funding, and is backed by investors such as Andreessen Horowitz and Formation 8.
Difference between Realtor and Broker
Realtors and brokers are often used interchangeably, but there is actually a difference between the two.
- Realtors are licensed to work as agents, representing buyers or sellers in real estate transactions.
- Brokers, on the other hand, are licensed to work as both agents and brokers. This means that they can represent clients in transactions, as well as manage their own real estate businesses.
- In order to become a broker, an agent must first complete additional training and pass a broker’s exam.
- As a result, brokers generally have more experience and knowledge than agents.
- However, both Realtors and brokers must adhere to a strict code of ethics and meet ongoing education requirements.
Whether you’re working with a Realtor or a broker, you can be confident that you’re working with professionals who are committed to helping you achieve your real estate goals.
Conclusion
If you are looking for someone to help you buy or sell a home, it is important to understand the difference between a realtor and a broker. A realtor has passed state-required exams and is licensed by the state, while a broker does not have any specific licensing requirements. A broker can be more helpful when it comes to contract negotiations and complex transactions. When choosing someone to help you with your real estate needs, make sure you understand what services they offer and what their qualifications are.
