Many people are under the misconception that a Realtor and a real estate agent is the same thing, according to Dean Graziosi. A real estate agent is only allowed to use the title of Realtor if they are members of the National Association of REALTORS. This means that only members are allowed to use the term REALTOR in their logo and marketing materials. To help you better understand the difference, I have listed some helpful information below.
The National Association of REALTORS, also known as NAR is the largest trade association in the United States. Commercial and residential realtors can join the association; as well as brokers, agents, appraisers, and provisional brokers. To become a member of the NAR, one simply needs to join a local Board of REALTORS. This is the first step in becoming a member of such a highly respected group. The annual membership fees for members of the NAR are $120. Once you join the NAR, you must follow the National Association of REALTORS code of ethics whenever you conduct business.
As a REALTOR, your responsibility to your clients includes protecting their interests. A member of the NAR can represent either buyers or sellers. They help buyers form and write up their offer, walking their clients through the next steps after their offer is accepted, and help create a final agreement between buyer and seller to ensure that it is legally binding and that there are no errors.
Throughout the entire process, it is the job of the REALTOR to remain on top of the process and take care of any issues that may come up. They will help buyers interpret home inspection reports and help them act in the appropriate manner should something unexpected be discovered. When necessary, they can also renegotiate the contract to include any repairs that the home inspection may have found.
When a REALTOR represents a seller, one of their top priorities is to create a solid marketing plan which will meet the needs of the seller while also attracting the right type of buyer. They will take a walk-through of the home and take note of any cosmetic work or small repairs the seller should perform prior to listing. They will help sellers improve their curb appeal and make their home as appealing to potential buyers as possible. They will also discuss with sellers what repairs should be made now and what they may be able to use to their advantage during negotiations with buyers; states Dean Graziosi.