This may come as a shock, but not all
licensed real estate agents and brokers are REALTORS®. What’s the difference
between a licensed real estate agent and a REALTOR®? We’re gonna cover that next.
Stay tuned. My name is Jason Allen-Rouman, and I’m a real estate agent in Palm
Springs, California. In another one of my videos, I talk about the difference
between an agent and a broker. There should be a link to that video in the
corner right now. What I didn’t cover in that video is the difference between an
agent or broker and a REALTOR®, and I’m grateful this question came up. In short
a licensed real estate agent, and a licensed real estate broker for that
matter, are individuals who’ve completed the necessary government requirements
and then passed an exam proving their knowledge. It’s the minimum requirement
to work in real estate. A REALTOR® is someone that has done that same work and
also joined the real estate industry trade group. This second step means they’re
committing time and money to staying up to date with the changing landscape of
this business, and that may seem trivial, but while all licensees are permitted to
join, membership comes with its own set of responsibilities and obligations.
Joining says you’ll act according to a set of ethical and professional
standards laid down by the membership. Step out of line and you won’t be a
member for long. Now, throughout the United States, the associations are
tiered at local, state, and national levels. The local association, and there
can be more than one in a geographic region, maintains their members’ multiple
listing service, among other things. They also follow the changes in local laws
and conduct seminars and continuing education sessions all related to real
estate. The state and national level associations tend to lobby governments
for laws that favor homeownership and first-time homebuyers. They also seek to
maintain reasonable property taxes and oppose unnecessary fees that impact the
housing market. They also published the REALTORS® code of ethics, which is an
important standard by we REALTOR® operate. If a member steps
outside of those ethics or bounds, I should say, they can be expelled from the
association, which means they lose things like MLS access. No agent wants to be
expelled from the National Association of REALTORS®, you can trust me on that.
It’s important for you to ask whomever you interview to be your agent if they
belong to the local, state, and national Association of REALTORS®. It’s an
important qualifier that demonstrates a commitment to the profession. Now I’ll
wrap up this video by saying that we aim to publish a new video on a weekly basis.
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send us your real estate questions like this one about real estate agents versus
REALTORS®, and we’ll do our best to answer them. That’s all for now.
Thanks for watching.