When you start your home buying or selling journey, finding someone to represent you in the process can be difficult. There are different real estate companies to choose from, then you have to choose from all of the agents too. You want someone who will act in your best interest and guide you through every step of the process. As you start your research, you might see the terms Real Estate Agent, REALTOR®, and Real Estate Broker as you are browsing through websites. But what do all of those terms mean and what does each person do? A lot of people think Real Estate Agent, Real Estate Broker, and REALTOR® are interchangeable. However, there is a difference between the terms. They are all licensed sales professionals who can help you buy and sell a home. 

As someone who is buying or selling a property, you will work with a Real Estate Agent. Your agent will assist in your search for properties or arrange showings of the house you’re selling. The agent you select will also handle all marketing for your listing, offer real estate advice based on market trends, represent and negotiate on your behalf throughout the transaction, and ensure all paperwork is signed and submitted. Just because an agent has been in the business for decades, doesn’t mean they have a different title. A real estate agent that has been in the business for a long time has the same title as one that just started. Sometimes agents don’t want to pursue further licensing or education, and they simply want to maintain their license to continue being an agent.

A Real Estate Broker has additional levels of licensing and has the capability of brokering a real estate deal independently, or working with an office and overseeing real estate transactions conducted by other agents in the office ensuring transactions are lawful, all paperwork is correct and complete, and that all monies are recorded and reported properly.

Once the paperwork is in place the Broker is responsible for all compliance regarding the transaction. When you sign the contract, you are actually signing with the broker and not directly with your agent. A Real Estate Broker can also act as a Real Estate Agent as they are still licensed to assist with both home buying and selling. 

A REALTOR® is Real Estate Agent who is also a member of the National Association of REALTORS® (NAR). When a Real Estate Agent is a member of NAR they have access to additional benefits. Some of those benefits include:

• Networking and leadership opportunities

• MLS Access which gives access to real estate data in the designated MLS area

• Additional training and educational requirements

• Must adhere to NAR Code of Ethics

To clarify, if someone is a REALTOR® or Real Estate Broker, then they are also a Real Estate Agent. However, not all Real Estate Agents are REALTORS® or Brokers. When you work with Berkshire Hathaway Homeservices PenFed Realty, our agents are all members of NAR meaning you are working with someone that has extra training and education to make your home buying or selling experience better, Contact us today if you are interested in buying or selling a home. We are happy to help you find your next forever home.