Difference between Broker and Realtor
Basis |
Broker |
Realtor |
---|---|---|
Licensing |
Brokers have a special license to work in real estate and can work alone or run their own company. |
Realtors are licensed real estate agents who join a group called the National Association of Realtors (NAR). |
Membership |
Brokers don’t have to join any specific group. |
Realtors are members of NAR, which has rules about how they should behave. |
Code of Ethics |
Brokers follow laws but don’t have special rules like Realtors. |
Realtors must follow strict rules about honesty and fairness set by NAR. |
Professional Standards |
Brokers have different levels of expertise and may not all be equally trustworthy. |
Realtors are expected to be very professional and treat clients well. |
Networking Opportunities |
Brokers might know people in their local area but don’t have a big network like Realtors. |
Realtors can connect with lots of other real estate professionals through NAR. |
Representation |
Brokers can help clients with transactions but don’t have to follow NAR’s rules. |
Realtors represent clients and must follow NAR’s rules, so clients can trust them more. |
Consumer Trust |
Some brokers are trusted, but it can vary. |
Clients often trust Realtors more because they have to follow strict rules and standards. |
Difference between Broker and Realtor
The terms “Broker” and “Realtor” are sometimes used interchangeably, but have differences. While a broker is a general term used to describe individuals or firms that facilitate transactions across various industries, a realtor specifically refers to a real estate professional who is a member of the National Association of Realtors and adheres to its Code of Ethics.
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