Word on the street is that there’s a common misconception between realtors and real estate agents. We’re thinking that one would automatically assume that the two entities seem closely related based off of the name itself. But contrary to popular belief, the two are slightly different.
A licensed real estate agent takes 30 to 90 hours of classroom instruction in real estate fundamentals then passes an exam that covers standards, practices and laws that affect the particular state the agent is pursuing a license in.
Not far on the other end of the spectrum is where the Realtor lies. To be considered a Realtor, an agent must be an active member of the National Association of Realtors (NAR). NAR’s membership entails taking an online course on the strict ethics code and passing an exam. Once that’s out the way, every 4 years members have to take a refresher course that reassesses the core value to “treat all parties honestly.”
Here’s where the two differentiate: not all realtors are real estate agents. Property managers, home appraisers, and real estate brokers and counselors can also be members of the NAR; thus earning them the title of a Realtor. Realtors promise to never mislead or withhold information from anyone party involved in the transaction in its entirety. In addition, they have access to a large number of homes through the Multiple Listing Service.