By Melissa Forte-Litscher
If you’re planning on buying or selling your home in this rapidly changing market, you’re going to want to work with a real estate professional. But what kind of professionals are available to help you buy or sell your home, and what are the differences between them?
A recent article from realtor.com answered key questions about the different types of real estate professionals, including real estate agents, brokers and REALTORS®—and the differences between the three.
First let’s look at a real estate agent. This is a real estate professional that has completed the basic educational, training and licensing requirements (including passing a licensing exam), which allows them to help people buy, sell and rent real estate. Real estate agents must affiliate themselves with a broker to legally transact real estate business in the state of Florida.
A REALTOR® is a licensed real estate agent that’s also a member of the National Association of REALTORS® (NAR), an industry group that holds agents to a certain set of standards and ethics. Essentially, REALTORS are real estate agents, but with an extra level of accountability thanks to their association with NAR. The national association membership as well as the state, Florida Realtors, and local, Emerald Coast Association of Realtors, hold all members to a higher standard and have processes in place to protect the public in real estate transactions. We currently have more than five thousand REALTOR® members in the ECAR.
A real estate broker is a real estate agent that has pursued further education on a variety of real estate-related issues, including ethics, contracts, taxes and real estate law—and has passed a broker’s license exam. In order to get their broker’s license, candidates need a certain level of experience and tenure as a licensed agent for twenty-four months in Florida. As such, real estate brokers are generally more experienced and well-versed in all things real estate. Some brokers use their license to manage or run a company or an office of other agents, and do not work with clients anymore. Others continue to help buyers and sellers. A good broker helps train a new agent, supports the agent in their growth and education and is a reliable resource for their agents. The broker is liable for the agent’s actions, file keeping and is the entity through which commissions are paid when a transaction is completed.
Understanding the different types of real estate professionals that are available to help you buy or sell real estate can ensure that you partner with the right professional for you. Ask your friends, neighbors and family, look to local business relationships you may have, and ask them who served them well. Buying and/or selling a home is one of the largest financial decisions you will make, and you will spend considerable time with the person assisting you. We are blessed to have a great number of REALTORS® in our area. Take some time to meet with them and see which one is a good fit for you and your needs.
