| If you have been looking for property in the last | | | | reporting any issues etc, are some of the |
| few days, then there are chances that you have | | | | obligations of the agent. The broker also follows |
| come across the most confusing terminologies in | | | | these regulations but he also follows much more |
| the Real Estate directory. A Real Estate broker | | | | stringent regulations under the NAR. |
| and a Real Estate agent are two terms that you | | | | Which one to choose? |
| will hear from time to time. But what exactly is | | | | When it comes to finding a property or selling |
| the difference between the two? Well for | | | | your property, both of them can help you. On |
| starters, an agent may be a person who works | | | | many occasions the realtor will hire the agent |
| under a registered broker. Or in certain cases, a | | | | himself. When this happens, the agent's behavior |
| broker does not have anyone working under him | | | | and his performance is the responsibility of the |
| and he prefers to be the agent as well. In most | | | | realtor and you no longer have to worry. The |
| cases the person that you deal with when | | | | agent will follow the high code of ethics that are |
| finalizing Real Estate deals is a Real Estate agent. | | | | set by the more experienced realtor. It is also |
| A Real Estate broker is its true sense is the party | | | | important to mention that each one has its own |
| who acts as an intermediary between sellers and | | | | pros and cons. |
| buyers of real estate and attempts to find sellers | | | | Choosing one |
| who wish to sell and buyers who wish to buy. A | | | | You can look at certain points before choosing a |
| broker is a person with a lot more experience and | | | | Real Estate agent or a broker. You need to look |
| a lot more knowledge under his belt. | | | | at whether the broker is licensed or not. All |
| Credentials | | | | brokers and agents need to be licensed in the US |
| Both these people have licenses but the realtor | | | | but the rules may vary for other countries. There |
| broker has more credentials to his name. The | | | | are separate registrations and license needed by |
| training and the experience that one needs in | | | | certain states. Look for listing options, services |
| order to be a realtor is much more when | | | | and selling ideas that they may have. When you |
| compared to a Real Estate agent. Most realtors | | | | have this with you, you can always do a |
| are members of an organization called the National | | | | comparison between couple of brokers. Ask for |
| Association of Realtors. This is an extremely | | | | the pricing and the fee structure. Ask them to |
| professional organization which has strict code of | | | | cover all kinds of charges and fees that may be |
| ethics. These codes are a way of proving to the | | | | involved in the transaction. At any point of time |
| public that this is a profession that requires a lot | | | | during the transaction, if you do not feel |
| of dedication and integrity. Agents are also | | | | comfortable about anything make sure that you |
| required to have certain credentials when it | | | | negotiate it with the chosen party. The |
| comes to acquiring a license but it is far lesser | | | | commission, the term of the contract etc are |
| than a realtor. Confidentiality, obeying property | | | | some of the things that can be discussed and |
| rules, giving priority to the interests of the clients, | | | | negotiated openly. |