You will no doubt have heard of the realtor and the real estate agent and you could be forgiven for thinking that they are one and the same, when, in actual fact, there are a few differences, which we point out in this article.
The Realtor
If you thought that a realtor and a real estate agent do the same job, you would almost be correct; they can be involved in the same tasks, although the major difference is that the realtor is a member of the National Association of Realtors and they are supposed to adhere to higher ethical codes than an estate agent. The code of ethics is very clear about what the realtor can and cannot do; Articles 1-9 of the code, for example, deal with the behaviour of the realtor and their clients, while articles 10-14 deal with how the realtor behave with the general public and numbers 15-17 are concerned with how realtors behave with other realtors. All NAR members are bound by this code of ethics and should there ever be a claim of unethical conduct, the association would carry out an investigation.
The Real Estate Agent
A real estate agent is a professional who is trained to work in both residential and commercial real estate, plus they must have a licence from the government to be able to offer their services. Take luxury La Cala de Mijas real estate agents as an example. They abide by a set of rules that is issued by the government and they must display their licence at their business offices. If you wish to become a real estate agent, there are online courses that you can take and when you pass the examination, you can find a job with an established agency. You would work under the supervision of an experienced real estate agent, who would assist you whenever necessary and as you develop, you would eventually have your own agency. Of course, the goal is to gain the trust of your local community and over a period of years, this can set your business up.
Some Professionals Are Both
Being a realtor is a full-time job. It’s what you do to make a living. Being a real estate agent, on the other hand, is more of a hobby. Sure, you may do some real estate transactions on the side to supplement your income, but it’s not your main focus. There’s actually a lot of gray area when it comes to differentiating between being a realtor and being a real estate agent. In fact, depending on where you live, the definitions may be different.
It is possible for a real estate agent to also be a realtor; indeed, around 50% of real estate agents are members of the National Association of Realtors, or its equivalent in a European country. There are benefits to being both a realtor and a real estate agent, as you have a higher level of legal protection in the case of litigation, not to mention the elevated status that comes with being an NAR member. Check out the stunning properties on view at https://luxuryapartmentsmarbella.com/, for example, and feel free to ask as much information as you can on what their specialists can do for you.
When you are looking to either buy or sell real estate, you will need to engage the services of either a realtor or a real estate agent, or a professional who is both. Many professionals are looking further afield, as land prices in areas such as those in the United Kingdom are ridiculous and in places like Marbella, you can buy a luxury property for much less than you could in the UK. Start by browsing the real estate agent websites and see what they have listed that is within your budget.