What is the difference between a Real Estate Agent or Associate, a Real Estate Broker and a Realtor?

Real Estate Agent

Sometimes called a real estate associate or real estate salesperson. A real estate agent is an individual who has obtained their real estate license throught the state in which they do buiness.  A real estate agent can list a property, arange showings, show a property, counsel home buyer's and home seller's, write a contract and perform other minesterial acts associated with a real estate transaction.  In the state of Massachusetts and New Hampshire, a real estate agent must be supervised by a real estate broker.

Real Estate Broker

A real estate broker usually has more training and experience then a real estate agent. A real estate broker is trained to supervise real estate agents.  All business of real estate agents supervised by a real estate broker are funnelled through the broker.  Real estate agents technically do business in the real estate brokers name.  A broker in Massachusetts and New Hampshire are bonded and are responsible for any real estate agents working on their behalf.

REALTOR®

Any real estate agent or real estate broker can be a REALTOR®.  A realtor must belong to the National Association of REALTOR®, a state board such as the Massachusetts Association of REALTOR® and a regional board such as the Eastern Middlesex Baord of REALTOR®.  A Realtor usually has more training than a standard real estate agent and has more resources available to them.  A Realtor also agrees to arbitration amongst its members and must adhere to the REALTOR® Code of Ethics.

REALTORs® Pledge

Buying or selling a home is never an easy process. All the different and confusing terms, the huge stacks of paperwork, all the forms that need to be filled out. Although it's an exciting experience, it can also be a very stressful one.

You need someone you can trust. Someone who can put your mind at ease because you know they're going to do the right thing and act in your best interest. Someone who will protect your rights.

When you enlist the services of a REALTOR®, you can be confident that you're being dealt with honestly. Every member of the National Association of REALTORS® makes a commitment to adhere to a strict Code of Ethics, which is based on professionalism and protection of the public.

The Code of Ethics is a promise—as a customer of a REALTOR®, you can expect honest and ethical treatment in all transaction-related matters. It is mandatory for REALTORS® to take the Code of Ethics orientation and they are also required to complete a refresher course every four years.

The actual Code itself contains 17 Articles and is quite comprehensive. To help you better understand exactly what the Code of Ethics is and how it benefits you as a customer; here is a summary of the key principles, which is referred to as the
REALTORS®' Pledge of Performance and Service.