When it comes to finding a real estate agent, you might assume that all agents are created equally. In reality, there are several different levels of agents that you can select from and it is very easy to get confused by the various titles and what they mean. To make matters worse, many agents add extra titles after their names in order to make themselves sound more important or knowledgeable. So, what exactly do these titles mean and how can they potentially affect the type of service the agent provides to you.
Real Estate Agent
One title you will certainly come across is that of a real estate agent. An agent is someone who is licensed to sell homes, but who is unable to work for him or herself. As such, agents work for licensed brokers. In turn, these brokers are responsible for the actions of the agents.
Real Estate Broker
Another title you will likely run across is that of the real estate broker. In general, a broker will have more education than an agent, though this isn’t always necessarily true. In order to become designated as a broker, the individual needs to meet certain requirements that are above and beyond those required of agents. Usually, these requirements involve obtaining a four year degree as well as completion of a certain number of college level realestate courses. For those without a degree, completing a certain number of classes in combination with a certain number of years of experience in the industry is necessary to obtain a broker’s license. Either way, the individual also needs to successfully complete a broker’s exam. This exam is typically longer and more difficult than the one completed by an agent.
After meeting the necessary requirements and obtaining the proper licensure, a realestate broker may chose to work independently or may hire real estate salespeople to work in his or her office.
Broker Associate
Yet another title you may see is that of a broker associate is someone who has obtained broker certification, but still works for another broker. Although broker associates can work for themselves, many choose to work within a larger network of RE professionals instead.
Realtor
When you see the title of Realtor, it means the person is either an agent or broker who is a member of the National Association of REALTORS(R) (NAR). In order to be a Realtor, the agent or broker must adhere to a Code of Ethic and must pay annual dues. Realtors also belong to various state and local trade associations and complaints against the may be filed with the local board. Although all real estate agents and brokers are not Realtors, many prefer to work with those who are because a Realtor must meet certain professional criteria in order to obtain this designation.
Although you can obtain exceptional service from people with all four of these designations, knowing what and who you are getting involved with is an important first step toward ensuring that you enjoy a smooth transaction.
Ryan Lynch is part of the marketing team for an Austin Real Estate Company: http://www.jimolenbush.com/
They specialize in West Austin: http://www.jimolenbush.com/west-austin.htm and Lake Travis: http://www.jimolenbush.com/laketravis.htm
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