Should you hire a Realtor or a Real Estate Agent?

What is the difference between a Colorado Springs Realtor and a Colorado Springs Real Estate agent?

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Most Home buyers and home sellers the Colorado Springs area use the terms REALTOR® and Real Estate Agent interchangeably, but that is not correct.   There are many differences between REALTORS® and real estate agents.    They are not the same.................

What is a  Realtor®?

1. Realtors® subscribe to a strict Code of Ethics set forth by the National Association of Realtors, which contains 17 Articles and various underlying Standards of Practice.
2. Realtors® must complete mandatory quadrennial Code of Ethics training.
3. Realtors® belong to the local Realtor® boards, which contribute listings to the MLS (Multiple Listing Service®).
4. Realtor® agree to arbitration procedures used to settle any complaints, whether from consumers or other Realtor® members.
5. Realtors® belong to the professional organization, National Association of Realtors®.
6. Realtors® also belong to a one of the 54 state or territory associations and one or more of over 1600 local membership associations.
7. Realtors® can use the term Realtor® which is a membership mark of the National Association of Realtors.

 What is a Real Estate Agent?

1. A real estate agent is licensed to do real estate related business in the state.
2. A real estate agent does not have any access to MLS services or properties.
3. The co-broking of properties for sale is normally done by Realtors® through the MLS, not through a real estate agent.
4. A real estate agent is licensed to sell real estate, but can not use the term Realtor.
5. A real estate agent is not held to the Code of Ethics and does not need to complete the Code of Ethics training.
6. Only about half of all licensed real estate agents in the U.S. are Realtors or members of the NAR.

Knowledge is Power!

Original article was posted at:  Real Estate Agent or Realtor?

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