What is the difference between a Real Estate Agent and a Realtor®?
On a day to day basis, we hear the term “Real Estate Agent” being used to describe anyone helping consumers buy and sell homes. This term has become part of the popular vernacular which is why it is used so freely, whereas the term Realtor® is just simply not as common. Some might just consider the term Realtor® to be industry jargon, but it really is much more than that.The first thing to know, and be aware of, is that not every Real Estate Agent is a Realtor®.
To become a Realtor® you must be a member of CREA, which is the Canadian Real Estate Association. Realtors® are bound by CREA’s Realtor® Code which outlines ethical obligations such as integrity, honesty, competence and more which protects the rights and best interests of the consumer and sets very high standards for professional conduct, which are sometimes higher than those that are legally mandated.
Another thing that you may not know is that Realtors® are also the only ones permitted to market or list your home for sale on the MLS® system of their local real estate board. When it comes to selling a home, this factor is extremely important as nothing really compares to the exposure you get from placing your home on MLS.
If you are considering buying or selling a home, make sure you do your homework first. Find a Real Estate Professional that you trust and ensure they are members of CREA and therefore, a professional Realtor®. Ask to see their license... A Realtor® is required to carry their real estate licence with them whenever they are working. Research them online...The RECO website has a registrant search tool where you can verify that they are members in good standing.
For more information on the CREA Realtor® Code, visit the CREA website at crea.ca/code.