When you’re looking for a new home or you want to sell your property, you will be faced with the choice of hiring a real estate agent, realtor, or real estate broker. You might initially assume that these are all the same or are very similar to each other.
While they do share similarities, there are differences between these three roles. It’s useful to understand how they’re similar and how they differ, too. Knowing what each professional does will help you to choose what sort of service you need to help you buy your home.
Understanding the Difference between a Real Estate Agent and Realtor
Real estate agents
Real estate agents have gained all of the qualifications, certifications, or experience required to sell property in the state where they reside. A real estate agent can offer you assistance in a variety of ways when you’re looking for a home, showing you the listings they have on their books that they think would be suitable for you.
Real estate agents can act on behalf of a buyer or seller, providing the essential services needed to deal with property sales or purchases. This is where most agents start, and they might go on to train in other roles.
Realtors
A realtor is a real estate agent who is a member of the National Association of Realtors. If your real estate agent is also a realtor, it offers further reassurance that you will receive a quality service. A realtor must follow the standards set out by the National Association of Realtors and stick to their code of ethics, too.
Any real estate agent can join by becoming a member of a local real estate association, which is then extended to state and national membership. If you think a realtor has broken the association’s code of ethics, you can make a complaint.
Real Estate Brokers
So now you may be wondering what exactly is the real estate broker definition. It’s actually that a real estate broker has added to their qualifications so they are licensed to practice as a broker, and not just a real estate agent. Brokers might work independently, or they sometimes hire other agents to help them. In contrast, agents and realtors need to work for a broker.
Part of a real estate broker job description is they have greater knowledge of real estate law and also have more power and responsibilities than a realtor or real estate agent. If you’re looking for a comprehensive service when you buy your property, you might choose a real estate broker.
Mortgage brokers
As well as real estate brokers, you might also decide to use a mortgage broker. A mortgage broker helps you to find the best deal when you’re looking for a mortgage for your home.
Mortgage brokers show you a range of options and help you to pick out the best lender and best loan for your circumstances. They know which lenders are most likely to accept you and can help you work out how much you will be able to borrow.
Find the Real Difference at First Choice Mortgage
With First Choice Mortgage, you have access to the best mortgage brokers in Georgia. We are here to help so you can utilize the most knowledgeable professionals in this industry. Our skills and experience make a big difference when you’re looking for a new home. Visit our website, or contact us today to see how our mortgage brokers can help.
