Homebuying October 22 2018

What Does a Realtor Do?

Ever wonder about the difference between a real estate agent and a realtor? They’re the same, right? Not so. Working with a real estate agent can take a lot of time and stress out of the home buying process, but not all real estate agents are the same. Some agents go on to become Realtors. The title is sometimes used interchangeably with “real estate agent,” but it shouldn’t be. Here is why it matters to buyers.

What is a real estate agent?

Real estate agents have taken required courses and passed a state examination to buy and sell properties. They have obtained a real estate license, and may sometimes also call themselves brokers. They have typically completed between 30 and 90 hours of coursework and may be required to renew their license ever one to two years, depending on the state.

What is a Realtor?

A Realtor is a real estate agent who has become a member of the National Association of Realtors (NAR)—the largest professional association in the world.[1] Realtors can also be brokers, salespeople, property managers, appraisers, counselors, and others in the real estate industry. NAR boasts about 1.3 million members spread across 1,200 local associations and 54 state and territory associations.[2] The association obtained a copyright for the term “Realtor” to set its members apart. NAR has faced legal challenges arguing “Realtor” is a generic term and shouldn’t be a trademark, but so far, the U.S. Patent and Trademark Office has upheld the title registration.

Why does the distinction matter to buyers and sellers?

  • Membership Requirements. NAR members must have a valid real estate license, have no record of official sanctions, and have no recent pending bankruptcy. This helps to ensure you are working with a reputable agent.
  • Code of Ethics. Members of NAR are held to a higher ethical standard than other licensed real estate agents. They must follow the organization’s Code of Ethics, which includes duties to protect and promote their clients’ interests beyond what the law requires. The code also addresses Realtors’ duties to the public and fellow Realtors. If a member violates the code, they could be removed from the association. Here are a few things Realtors promise to do:
    • Be honest with clients.
    • Cooperate with other brokers/agents when it is in the best interests of the client.
    • Not solicit another Realtor’s client.
    • Not collect any commission without the seller’s knowledge.
    • Strive to ensure all documents are easy to understand and provide copies for all parties involved.
  • Expanded industry knowledge. Realtors have taken an extra step to continue to learn and grow as a real estate agent. As NAR members, they can take advantage of several business tools and educational opportunities. They also have access to helpful real estate market data, and can often view properties that aren’t listed on other home search sites.

How do I find out whether my real estate agent is a Realtor?

Most agents are Realtors, but to find out for sure, you can search for them on the NAR website.  

 

 

Search Results for query

April 18 2019

What is HBSG?

If you’re ready to buy a home, but are unable to qualify due to credit challenges, our HBSG team is here to help you get the education and advice you need to turn “not today” into “You’re a homeowner!”

Read More

March 27 2019

Interest rates have dropped!

Get Your Home Equity Working for YOU and Refinance Today 

Read More

March 25 2019

5 Steps to Kickstart Your Mortgage Refinance

Ready to refinance your home, but don’t know where to start? Here are some necessary steps to get you started to possibly decrease your monthly payments!

Read More

March 15 2019

Student Loan Debt? How You Can Still Get A Mortgage.

While your student loan debt may look like the biggest obstacle getting in the way of homeownership, a lender may not see it as much of a threat. Here are what lenders are looking at and how your student loan debt affects your approval.

Read More

February 07 2019

A Modern Mortgage with a Personal Touch

In the digital age, we know that you expect a simple online experience that is quick, easy and guides you step-by-step through the mortgage process. With Eagle’s Digital Mortgage, you can apply for a home loan faster and easier than ever before –...

Read More

February 04 2019

How Secure Is Financing Your Home Online?

Technology has changed the way we live our lives – including home financing! Eagle’s Digital Mortgage has been found to save days (even weeks!) in the mortgage process by providing a more complete pre-qualification upfront and an easy way for you to...

Read More

January 23 2019

A Community That Fits Your Lifestyle

You’ve worked your sixty-hour weeks and raised your family, now is the time to live the lifestyle you deserve. Lennar's award-winning Active Adult communities create a relaxed and stress-free setting while also offering a variety of amenities and...

Read More

December 17 2018

FHA Announces New Loan Limits for 2019

The Federal Housing Administration (FHA) has announced their new loan limits—and it looks like it’s another increase in 2019!

Read More

November 15 2018

The Impact of Rising Rates

If you’ve ever had a credit card or purchased a car, you should be familiar with interest rates. An interest rate is the percentage of the amount you are borrowing (known as the principle) charged by the lender as a fee for allowing you to use their money....

Read More

12345Last

Mortgage Calculators

Crunch the Numbers With Our Helpful Mortgage Calculators

Payment Calculator

payment calculator

Payment
Calculator

Affordability Calculator

affordability calculator

Affordability
Calculator

Refinance Calculator

refinance calculator

Refinance
Calculator

The Modern Digital Mortgage with a Personal Touch

Paperless. Effortless. Awesomeness TM

Simplify the home financing process with our Digital Mortgage. We'll be here to help navigate you through the entire process.

Get Pre-qualifiedWhat is a Digital Mortgage?