Many
people commonly use the terms Salesperson, Broker, Agent and
REALTOR® interchangeably, as if they are all one and the same.
The truth is that these terms have different meanings and we
should be careful in their use.
Salesperson
The term "Salesperson" (as in Real Estate Salesperson
or Real Estate Sales Representative) refers to someone who has
attained all of the licensing requirements needed to help the
public buy, sell, lease, exchange or negotiate for any interest
in either real property or a business opportunity. All
Salespersons must work under the direct supervision of a
licensed Broker.
Broker
The term "Broker" (as in Real Estate Broker)
specifically refers to someone who has the required
qualifications and license to be in the Real Estate brokerage
business. Brokers can do everything that a registered
Salesperson can, but in addition they are also qualified to own,
operate and supervise an actual Real Estate company and employ
Salespeople to work for them.
Agent
While the term "Agent" is not specific to the Real
Estate industry, most Real Estate Salespeople, Brokers and
REALTORS do act as agents when conducting business. An Agent is
defined as anyone who represents another in a business
transaction.
REALTOR®
The word REALTOR® is actually a registered trademark that can
only be used by someone who has been accepted as a member of the
National Association of Realtors (NAR). This organization
requires all of its members to adhere to a strict Code
of Ethics and Standards of Business Practice. The Code and
Standards are very important because they assure that all
REALTORS offer the highest level of service, honesty and
integrity possible. All REALTORS are subject to constant
professional monitoring that keeps them directly accountable to
the individual consumers they serve. NAR also ensures that all
of its members are knowledgeable and highly trained in order to
better serve the public and offers ongoing education courses so
that REALTORS continue to meet the highest professional
standards in an ever-changing industry.
