Types Of Real Estate Agents
They come in multiple flavors, but I’m going to do the best I can to describe the different kinds of real estate agent and the services and experience each one provides. You don’t need one or the other; they can all help you in finding and buying a house. But certain levels of agency come with success and experience, so the agent you choose is completely up to you.
Sales Agents
The first is your average real estate agent. They are called simply ‘agents’ or ’sales agents’ because they are licensed to act as the facilitator of property transactions. In order to become licensed, real estate agents are required to take a specified number of hours of coursework depending on the state where they work, and to pass an exam within a certain high percentile range.
Realtors™
A Realtor™ is an agent who is also a member of the National Association of Realtors. Benefits of membership with the NAR include a wealth of information, sales and marketing tools, and other services and resources related to the realty business. Everyone who is a member of the NAR is supposed to have been certified as a legitimate real estate businessperson and has to agree to a code of ethics. Not that there are a ton of frauds running around out there pretending to be real estate agents, but it does happen, so be careful. Working with a certified Realtor™ who is a member of the NAR is supposed to help keep you safe from fraudulent activity.
So to recap, all Realtors™ are real estate agents, but not all real estate agents are Realtors™, and for that matter, not all non-Realtor™ real estate agents are really real agents at all! It’s almost like one of those word puzzles about whether Tom, Frank, Bob or Susan is the tallest.
Brokers
This is the big boss. All the other guys work for one of these. A broker usually has several sales agents who work for her to conduct transactions. The broker often provides office space and a business location, and as a result the sales agents under her split off a portion of their earnings for the broker. Requirements for becoming a broker vary by state, but they tend to be much more difficult to achieve and often include a certain period of time having been spent as a sales agent.