60 Seconds of Real Estate - What is a Realtor?

60 Seconds of Real Estate

 Philip Rosenberg, owner of ValleyWide Property Services, www.azvps.com

Do you know the difference between a real estate agent, a Realtor, a Broker and an Associate Broker?

A Realtor is a currently licensed agent in any state, who belongs to the National Association of Realtors and subscribes to a strict code of ethics.

 A real estate agent can be a Realtor or if they do not belong to NAR, then they are simply an agent and are not permitted to use the Copyrighted Realtor identity logo.  Most agents are Realtors but not all.

A Broker, or Designated Broker is the sole person who is ultimately responsible for all transactions within a real estate company.  Every contract goes before him or his appointed designate, and is checked for accuracy and completeness.  Only 1 Designated Broker exists in a company. 

 All agents who wish to become a Broker must return to school to get an additional 90 hours of training, pass various school and state tests, and take a Broker Management Class.

 When a Broker is in a company that already has a Designated Broker, then he is referred to and has the title of Associate Broker.

 I hope this clarifies the titles of Agent, Realtor®, Associate Broker and Designated Broker.

 ValleyWide Property Services assist families and investors in purchasing, selling, leasing and performing Property Management Services including Home Watch Service.