What is the difference between a Realtor and real estate agent?
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What is the difference between a Realtor and real estate agent?


bjbjs What is the Difference Between a Realtor
and Real Estate Agent Hello. Welcome to Todd Miller TV. The topic today is what is the
difference between a realtor and a real estate agent? You probably have seen the two words
used interchangeably. And so, I m going to go through and explain it. OK. So a long time
ago, actually like almost a hundred years ago, states decided that people who are helping
other people in real estate purchases should have a license. They should go through some
minimal training to understand the whole process and be licensed by the state to do that because
this was a very big deal at the time. So the states that you had to get a real estate license
to become a real estate agent and represent a person in the sale, you had to get a state
license. That s the based level. OK. Now, later on, people realized that we needed a
professional organization to sort of have the ethical code of conduct for real estate
agents. So, the realtor which is the professional association was born and all the states adapted
them and of course, even Canada has realtors. And so, a realtor is a real estate agent.
So you have a real estate agent here and then you have a realtor who has to be a real estate
agent to be a realtor. So you can t be a realtor unless you re a real estate agent. Now, everyone
is not a realtor. Here are some examples of people who are not realtors. If you go into
a new home subdivision, a lot of times those people are real estate salespersons but they
re not always realtors. Some of them are if they re a brokerage house that s running the
subdivision but usually, they re not. Typically, they re not. A lot of commercial agents, they
re not realtors. OK? Realtors have been predominantly for residential homes. So, you can be a real
estate agent without being a realtor. But you can t be a realtor without being a real
estate agent. You re probably saying, Well, why do I need a realtor like can I is it different
if I list my home with a real estate agent? You can list your home with a real estate
agent but a real estate agent who s not a realtor doesn t have access to the MLS. You
have to the MLS is only for realtors. It s a system that we came up with as realtors
that we use to cooperate with each other. And we only cooperate with other realtors.
So if a real estate agent can t list a home and go put it in the MLS, they don t have
access to it so they don t have any way to share it with realtors. Some people say this
is anti-trust, that it s not fair. No. I mean there are thousands of ways you can get you
can market your home. This is just one system. This is just one MLS. It just happens to be
kind of widely adapted. A couple other differences between a realtor and a real estate agent,
real estate agent is only bound by state law and whatever the licensing of the state law
says. A realtor has a much higher code of ethics. There is a very thick book, that s
a code of ethics manual that talks about all the extra things that we have to do as realtors
for our clients as far as being fair and protections and disclosures and things. A real estate
agent doesn isn t bound by those things. So if you have a real estate agent and you think
they re doing something unethical, you can turn them into the state but if the state
says, Well, they re not violating any license law. That s it. But if you don t like what
they re doing and they re realtor, you can turn them into the real estate the board of
realtors and then there are higher code of ethics for that. So I just thought I d share
that, the difference between a realtor and a real estate agent. Here in Las Vegas, probably
two thirds of our real estate licensees are realtors. The other third are just real estate
agents. So of course, we re realtors. Everyone in our company is a realtor. They have to
be. It can t be a realtor company without also being a realtor. And it s like that in
Las Vegas. It s like that in a lot of other places as well. I thought I would share that
with you. That s my update for today and hope to see you on another video. Thanks. PAGE
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What is the difference between a Realtor and real estate agent

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