Difference Between a Real Estate Agent and a Realtor

Real Estate Agent vs. Realtor

Requirements to Become a Realtor

You might assume that in order to become an Orlando Realtor, the professional must first be a real estate agent, but that’s not necessarily true. Real estate agents, property managers, appraisers and even real estate counselors and other professionals can become Realtors, but they must be licensed in their field by the State of Florida. To join, they simply have to locate their local National Association of Realtors office, pay the one-time application fee and then wait for approval of their applications by the Board of Directors.

Of course, there’s some prerequisite requirements prior to getting approved, some of which include the following:

Hold a valid real estate license
Be active in the real estate community
Have no record of official sanctions involving a breach in professional conduct
Have no recent or pending bankruptcy
Complete ethics training and continuing education requirements

Also, the principal of their organization must join first before you they can join. (The principles are basically the owners of the real estate company the real estate agent works for, such as the sole proprietor, partners and corporate owners.)

Realtor Code of Ethics

Because the National Association of Realtors is an organized association, it naturally has certain rules and etiquette that must be upheld by members in order for them to remain in the association. This code of ethics is what allegedly separates realtors from non-member real estate agents. The entire code consists of 17 articles, 131 explanatory case interpretations and 71 supporting standards. Like the Constitution and many other documents, the National Association of Realtors’ Code of Ethics is a living document that’s been changed and amended many times as necessary over the years. Basically, the Code of Ethics demands that Realtors respect one another and their relationships with clients and that they work together to further the best interest of their clients.

Why Would You Want a Realtor?

While a real estate agent can help you buy and sell property without being a Realtor, having a Realtor just gives you that extra edge. Just like enrolling as a member of any other prestigious organization does, being a member of the National Association of Realtors shows clients that the agent holds himself or herself to a higher level of standards and that they’re truly committed to your profession, a particular code of ethics and what it stands for. You can be more assured that a Realtor will go out of his or her way to protect your interests.