What are the different types of real estate agents?

By: inman 

At the height of the Great Recession, the most Googled job search was for real estate agent. And why not? The job offers flexibility and the opportunity to build a business within a well-defined existing framework. What new agents find, though, once they’re in the industry is that “real estate agent” isn’t a one-size-fits-all job description. There are many different types of real estate agents and a host of ways to make your mark on the industry.

Whether you’re a brand-new agent who’s launching a real estate career or a more experienced agent who’s looking for a way to better define and market your services, learning about the different types of real estate agents — and carving your own individualized path — is an important part of growing your business while increasing your effectiveness. 

What are real estate agents?

Real estate agents are licensed professionals who represent various parties in a real estate transaction. In order to be authorized to work as an agent, the licensee must be affiliated with a brokerage, which is headed up by a managing broker or broker-owner. 

The real estate agent, then, serves as a representative of the broker and the brokerage. This is where the idea of “hanging your license” comes from — a time when a real estate agent’s license would literally be framed and displayed on the wall of their brokerage. 

What is a Realtor?

The term “Realtor” is often used interchangeably with the terms real estate agent or broker. In reality, however, Realtor is not just a generic term for a real estate professional. It has a specific, trademarked use and should only be used in accordance with its particular purpose.

The term Realtor is trademarked by the National Association of Realtors(NAR), a real estate industry trade group. Just as with many other trademarked brand names and logos, use of the term Realtor and the NAR logo is highly regulated and controlled. The term Realtor properly only refers to members of NAR and can include both agents and brokers.

NAR provides additional information to help members ensure that they’re using the term Realtor correctly. If you’re in doubt, however, it’s best to use the terms real estate agent, real estate broker or real estate professional rather than Realtor when referring to yourself or others.

In addition, be very careful when using the term Realtor in marketing, branding or advertising. If you’re in doubt about your use of the term Realtor, contact NAR or your local association for specific guidelines and information.

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