Many people that are not close to the real estate industry ask us what the difference between agents, REALTORS and brokers are. It can be confusing because a lot of times individuals in the real estate professional can sometimes be lumped into a group together.
A lot of people use the blanket term "agent" to describe someone who is licensed in their state to buy, sell and negotiate the sale of real estate. An agent has taken the courses and has passed their exam as well as paid any necessary dues required.
A "broker" is similar to an agent in that they too are also required to take classes, pass an exam and pay required dues. However a person with a "broker" license usually has a little more education and experience that that of an agent. However, in the state of North Carolina, there technically are no real estate agents, but rather brokers. In NC you take the broker class and exam and are not given the option of just being an agent.
A "broker in charge" is a agent/broker that has been in the business for a specified period of time and now has acceptable experience in the real estate profession. A broker in charges job is oversee all of the agents and/or brokers that hold active licenses under him and the representing brokerage or real estate company. The broker in charge is responsible for the actions of all the agents and brokers under them and needs to make sure that everyone is doing their job and upholding the code of ethics and the law.
All the agents, brokers and brokers in charge all have to take classes and pass exams. That is how you get your real estate license. It is not an easy process and can actually be a lengthy one at that. Once an individual holds a license they need to have a broker in charge "activate" it and move their status from inactive to active. Once the individual holds an active license with a brokerage they can then become a REALTOR.
A REALTOR is an agent/broker that has applied for membership to the Realtor Association and has made an oath to uphold the REALTOR Code of Ethics and act in the best interest of their clients while still maintaining the respect and trustworthiness to others. Not all individuals that hold a real estate license are actual REALTORS. A lot of time people are so familiar with the term that they classify everyone in the real estate sales business a REALTOR. Though it is not required by law that a licensee be a member of the Realtor Association, many brokerages highly recommend it or even require it. Their resources and reputation give that extra bit of credibility to those agents and/or brokers that choose to be members.
Another area in which a lot of people are unfamiliar about is Designations. What are they? Designations are accomplishments an agent/broker has worked hard to obtain. Many of them are based on experience, while some are based on in-class courses and exams, and some are a combination of the two. An agent/broker that is equipped with a few designations is relaying a message of professional. A professional is someone that strives to better themselves in an effort to better the quality of service they bring to their clients. Designations come in all shapes and sizes and of course relevancy. No matter how you look at them, designations are another way agents are able to stay on top of the market, technology and your best interests.
Tim Brown
Owner/Broker, Realtor®, ABR,CRS,CDPE®
Auctioneer NCAL#8560
Hines & Associates Realty
TeamHeidi
Direct Line: 704-619-1008
Client Care Line: 704-815-3208
www.CarolinaHomes4Sale.com
Comments(1)