There are certain words that we can interchange because they mean exactly the same thing. If you walk down the street and ask people if the term real estate agent and realtor mean the same thing almost, if not every single person will say yes. However, this is not the case. There is, in fact, a difference between a realtor and a real estate agent. Although no one will jump down your throat for using either of these words, by definition, there is a right and wrong one to use depending on which one you are referring to. Yes, both terms refer to people who represent a party looking to buy or sell real estate. However, knowing the differences between these two can clear up some confusion.
Real Estate Agent
Real estate agents are professionals who represent buyers and sellers in real estate transactions. Most agents work for a larger real estate broker or realtor. These brokers or realtors have additional training and extra certifications. The interesting thing about being a real estate broker is that you get paid based on your productivity. Typically, real estate agents work entirely on commission, so their income depends on their ability to close deals. Sellers are the ones who benefit most from this. If your home does not sell than the real estate agent makes no money, because of this there is a huge incentive for them to do everything they can to sell your house. Real estate agents perform different duties depending on if they work for the buyer or seller. When working for the seller, the agent will advise the client on last minute additions or fixes that can raise the value of the home, which they will also help set. When working for the buyer agents look for properties that match the buyer’s price range and wish list.
A realtor is someone who is a member of the National Association of Realtors. NAR, for short, was founded more than a century ago. However, the term realtor has only been in use for about forty years. The association was originally established in 1908, then known as the National Association of Real Estate Exchanges. The current name was adopted in 1974. Realtors must follow the Realtor Code of Ethics. Local real estate boards strictly enforce the Code of Ethics. This code realtors must follow is more restrictive and confining to conduct than the state guidelines governing agents who simply hold a real estate license. The Code of Ethics is made up of seventeen articles. In these seventeen articles, seventy-one support Standards of Practice, and one-hundred and thirty-one explanatory case interpretations.
The National Association of Realtors headquarters is in Chicago. The National Association of Realtors is the largest trade organization in the country, with over one million members nationwide. However, membership is not only limited to real estate agents and brokers. Members can be property managers, appraisers, real estate counselors and other professions involved in the real estate industry. There are only a few requirements you have to meet to join NAR. The requirements include a valid real estate license, actively engaging in the real estate business, no official record of sanctions for unprofessional conduct and no recent or pending bankruptcy. Once you have joined the National Association of Realtors, there are fees you have to pay. The annual membership dues are $120 per member currently. There is also a Special Assessment fee for its Consumer Advertising Campaign which cost another $35.
Why Scott Gordon Realty
Scott Gordon has been one of Palm Beaches most renowned realtors since 1983. He has an unmatched reputation in the Palm Beach real estate industry. Scott Gordon Realty only hires the most knowledgeable palm beach real estate agents. Mr. Gordon has grown his company to the forefront of the industry. Mr. Gordon and his company specialize in luxury oceanfront & lakefront condominium sales. Mr. Goordon is also an expert in the residential market on the Island of Palm Beach.
If you are selling your home, Scott Gordon is definitely the man to turn to. Mr. Gordon has various skills and resources to help you sell your home fast and for the most value. The in-house marketing team will professionally take pictures of your house making it look its best for potential buyers. Mr. Gordon has an ever expanding network of fellow realtors and brokers. This web of connections gives you the best chance to sell your home as fast as possible. Mr. Gordon and his staff will also host open houses for you for other brokers and the public to see your home. Scott Gordon Realty can also place your home in for sale ads in various local, national and international newspapers such as the Palm Beach Post, Palm Beach Daily News, New York Times, and Wallstreet Journal.