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Value
Of An Agent
Common
Errors to Avoid
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Value Of An Agent
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Common Errors to Avoid
Preparing Your Home
Should
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Best
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Why Use
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What Do
They Mean?
20
Mistakes To Avoid
Mortgages Explained
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Agent, Broker & REALTOR®
What Do They Mean?
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.
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