Why Choose a Realtor® (and Not Just a Real Estate Agent)
Deciding that you are ready to buy or sell a house is a big decision. But once you make that decision, you probably want to get going as quickly as possible. Before you search for “real estate agents near me,” take a moment to decide if working with just any real estate agent is the right thing to do. Are you looking for a professional you can count on to make your deal happen smoothly in the competitive Spokane, Washington, real estate market? If so, you may want to work with a Realtor®.
If you’re just now realizing there’s a difference between real estate agents and Realtors®, don’t feel embarrassed. The terms are often used interchangeably, which means the difference is easy to miss unless you are familiar with real estate jargon.
While both real estate agents and Realtors® can assist individuals in buying, selling, and renting properties, there are some notable differences between them. Understanding these differences will ensure you choose a professional who can truly meet your needs.
The Key Differences
Both real estate agents and realtors are professionals in the real estate business. But not all real estate agents are Realtors®.
To become a real estate agent, individuals need to take an accredited course and pass a real estate exam administered by the state where they want to do business. Beyond that, the requirements for obtaining a real estate license vary from state to state. But once a person meets all the state criteria, a real estate agent may represent clients to purchase and sell residential and commercial real estate.
Some real estate agents then decide to become Realtors®. The term “Realtor®” is a trademarked title that indicates that the agent you are working with belongs to the National Association of Realtors® (NAR), the largest professional trade association in the United States. Realtors®can be real estate agents but can also include property managers, appraisers, or other professionals in the industry.
To become a Realtor, an agent must apply for membership with the NAR. Initially, this means applying to be a member of one of NAR’s local associations. If you are not a principal at a real estate firm, you can only join NAR if at least one of the principals in your firm is already a member. The minimum requirements for membership are that a person holds a valid real estate license, is currently involved in a real estate business, and has not been officially sanctioned for unprofessional conduct. A person also cannot have had a recent bankruptcy or be undergoing bankruptcy proceedings.
So, if you work with a Realtor®, you know that your agent already meets specific professional criteria. But perhaps the most critical distinction is that Realtors® must agree to adhere to the NAR’s Code of Ethics and Professional Conduct.
This Code is not just a vague list of rules used for window dressing; it currently has 17 articles and 71 standards. Individuals seeking NAR membership must undergo orientation on the Code and will often need to participate in ongoing training. The Code addresses specific duties members owe to clients, customers, the public, and other Realtors®. When your agent belongs to the NAR, you will know that your agent will adhere to the highest ethical standards with respect to you and every other party to your real estate transaction.
In addition, membership in the NAR gives your agent access to greater resources for marketing properties and some unique resources if your transaction involves foreign properties or foreign currency transactions.
Other Reasons to Choose a Realtor® in Spokane
Being a member of NAR means that your Realtor® has valuable connections in the industry, both local and nationwide. If you are selling a property, your agent will have in place an extensive network of fellow Realtors® with whom they can share your listing. If you are buying, your realtor will use their connections to find exactly the type of house you are looking for.
You can be confident that your Realtor®, as a member of NAR, is current on the latest tools and trends affecting the real estate industry. This means that your Realtor® is knowledgeable and informed about everything going on in the industry, both locally and nationwide.
You will also know that your Realtor® is adhering to the highest standards of professionalism and ethics and that your interests will be well-served. Your Realtor® will not conceal or misrepresent facts, and you can be assured that all parties involved in the transaction are treated fairly. Realtors® adhere to the Code diligently because the consequences for violating the Code are severe and may include expulsion from NAR.
Skip Searching for “Real Estate Agents Near Me”
When you need someone to help you navigate buying or selling a home, you want to ensure that the person is a professional with the demonstrated ability to perform the task. In addition, you want that person to adhere to the highest ethical standards and who will have a keen sense of duty and responsibility toward you.
Don’t risk your financial situation and your peace of mind by choosing to work with someone who isn’t committed to their career in real estate. Instead, choose to use a real estate professional who has taken the extra steps to become a Realtor®. At the Legacy Group, our experienced real estate professionals are prepared to assist you every step of the way. Contact Legacy Group Real Estate today.