Differences Between Real Estate Agents, Brokers and REALTORS®

If you’re like many people, you know that a real estate agent is a real estate agent – but what’s the difference between real estate agents, REALTORS® and brokers?

Here’s what you need to know.

Differences Between Real Estate Agents, Brokers and REALTORs

When you’re buying or selling a home, there’s a good chance you’ll hire professional help – and that comes in the form of a real estate agent, REALTOR or broker.

Everyone who wants to buy and sell homes for clients has to have a license, so whether you work with a real estate agent, a REALTOR or a broker, you’re working with someone who’s gone to school to learn about California’s real estate laws, rules and regulations, and who has passed an exhaustive exam (or more than one exam, when it comes to continuing education and earning other designations) to earn a real estate license that enables him or her to practice in the state of California.

Real Estate Agents

Real estate agents are people who have professional licenses that enable them to help you buy or sell a loft, condo or house in DTLA. Only people who attend a real estate school and complete all the coursework are eligible to test for a license. The written exam covers federal real estate laws, basic principles of real estate (including all the terminology real estate agents use and the nuts and bolts of real estate transactions), and California real estate laws.

REALTORs

REALTORs are licensed agents that go through the same training that real estate agents do. However, these agents are members of the National Association of REALTORS®. That means these agents also fall under the standards of NAR and have to stick to its code of ethics.

Brokers

Real estate brokers are people who have gone beyond real estate licensing requirements and hold a special license – a broker’s license. Brokers have a certain level of experience as real estate agents – that’s the only way they qualify to take the coursework, actually.

Brokers take courses on ethics, contracts, insurance and more, like real estate agents do, but the courses are more in-depth. When brokers complete their coursework, they can take a written exam and earn a broker’s license.

Are You Buying a Loft or Condo for Sale in DTLA?

Call us at 213-254-7626 or get in touch with us online to start exploring your options when you want to buy a loft or condo in downtown Los Angeles.

While you’re here, check out our:

Bunker Hill, Downtown Los Angeles: A Brief History

If you’re like many people looking for a condo or loft for sale in DTLA’s Bunker Hill, you know it has a rich history – but where did it begin, and why does it look the way it does today? Here’s the scoop on Bunker Hill. Bunker Hill, Downtown Los Angeles: A Brief History Bunker […]

What Do Equifax, TransUnion and Experian Do?

If you’re buying a loft or condo for sale in Little Tokyo, you’ll probably need to get a mortgage loan – but whether you’re able to or not depends largely on your credit score. Usually, lenders check your credit score through the three main credit bureaus: Equifax, TransUnion and Experian. They also look at your […]

How to Get Mortgage Preapproval From a Lender

If you’re buying a condo or loft for sale in Little Tokyo, you’ll probably need a mortgage loan – most people do. The first step in your home search should be getting preapproval for that loan. Here’s how. How to Get Mortgage Preapproval From a Lender After you’ve shopped around for the best rates and […]