What is the Difference between a Real Estate Agent vs Realtor vs Broker

Real Estate Agent

There are many different terms in the real estate space so let’s detail out what each of the above do and how they differ.

Many times, these terms are used interchangeably but there are differences.

A real estate agent is a professional licensed person who assists with the buying or selling of a home. Licensing is typically done at a state level and the number of hours can vary by state. Once this prelicensing training is completed, the person can take the written exam. The test is broken into two broad sections – Federal Laws and State Laws.

Upon successful passing of the exam the person is now considered a real estate agent and can join a broker and begin helping consumers to buy, sell or rent a property.

A realtor is a real estate agent who becomes a member of National Association of Realtors (NAR). NAR has their standards of professionalism and ethics a realtor attests to abide to.

A real estate broker is a real estate agent or realtor who continues their education to gain a deeper knowledge the real estate space. Again, there is a certain level of coursework required and one must pass a broker’s license exam. Here they will learn more about property management, construction and how to operate a brokerage. There is also a certain level of experience which is required.

There are 3 levels of brokers in this space – Principal Broker, Managing Broker and Associate Broker.

It is always best to work with a trusted real estate and mortgage professional to gain the best advice in buying or selling a house and mortgage financing.