Last week I spoke to a group of wealth managers, financial advisors, and hedge fund types in New York. I started my presentation with the question "What's the difference between a Realtor © and a Real Estate Agent?” Of the 150 in the room, no one, not one, knew the answer. In fact the consensus was that they are the same, that a Realtor © means nothing more than being an agent.
The question and answer session at the end of my session was a lively one. Turns out that a lot of confusion is out there on this topic. It appears that there’s also no perceived difference between an agent and a broker, “Isn’t that the same too?” said one, and even worse “What does it matter what they are called? The majority can’t be trusted, there’s no ethics involved whatever they want to call themselves.” This coming from a banker, like he can talk!
Regardless, how do we overcome this confusion? Any Ideas?
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