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- April 8, 2025
- Building, Education, Land Banking, Real-estate
- 02 Mins
CHECK WHERE YOU BELONG AS A PROPERTY DEALER
In the realm of property transactions, the terms “PROPERTY AGENT” and “REALTOR” are often used, sometimes interchangeably, but they carry distinct meanings, particularly in the UNITED STATES.
HERE’S A BREAKDOWN:-
1: PROPERTY AGENT (General Term):-
•A property agent, also known as a real estate agent or, in the UK, an estate agent, is a licensed professional who helps clients buy, sell, or rent properties.
•Their primary role is to facilitate real estate transactions. This involves various tasks such as:
•Listing properties for sale or rent.
•Showing properties to potential buyers or tenants.
•Advising clients on market conditions and property values.
•Negotiating offers and contracts.
•Guiding clients through the transaction process.
•Property agents typically work on a commission basis, earning a percentage of the property’s sale or rental price.
•In most jurisdictions, property agents must be licensed to practice. The specific requirements for licensing vary by location.
2: REALTOR (SPECIFIC TO THE USA).
•A REALTOR is a Real Estate Agent who is a member of the National Association of REALTORS (NAR) in the United States.
•The term “REALTOR” is a registered trademark and can only be used by members of this specific association.
•To become a REALTOR, a licensed real estate agent or broker must join NAR and agree to abide by its strict Code of Ethics and Standards of Practice. This code outlines professional responsibilities to clients, customers, and the public.
•While all REALTORS are licensed real estate professionals, not all licensed real estate agents are REALTORS.
•NAR membership provides REALTORS with additional resources, training, and networking opportunities.
They often have access to Multiple Listing Services (MLS), which are databases of properties for sale.
•The key distinction is the membership in the National Association of REALTORS and the commitment to their Code of Ethics. This often implies a higher standard of professionalism and ethical conduct.
IN SUMMARY:-
-Think of a property agent as the general term for a licensed professional in the real estate industry.
-A REALTOR is a specific type of real estate agent in the USA who has chosen to become a member of the National Association of REALTORS and adheres to their code of ethics.
Therefore, all REALTORS are property agents (or real estate agents), but not all property agents are REALTORS.
The term REALTOR carries the weight of membership in a well-respected national association with a focus on ethical practices.
THEREFORE,WHICH OF THE CATEGORIES DO YOU BELONG TO WHEN IT COMES TO PROPERTY DEALINGS?
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