In general, most people are under the impression that all real estate professionals have the same level of educational requirements and adhere to the same ethical guidelines; however, this is simply not the case.
In fact, there are three types of real estate professionals: real estate agent, REALTOR® and real estate BROKER. If one were to compare the three types to our education system; the real estate agent is the equivalent of obtaining a bachelors degree, a REALTOR® is the equivalent obtaining a master’s degree and becoming a real estate BROKER is the educational equivalent of earning a doctorate degree in the real estate world. In addition to supplementary education requirements for both REALTORS® and BROKERS, these professionals take an oath to uphold strict ethical guidelines that someone with the title of real estate agent is not required to take.
Statistically, only 18% of all real estate professional have earned the right to have the title of “BROKER.” In addition due to his sales volume he has achieved top 12%. Paige Slyman of Slyman Real Estate is proud to say that he has joined the ranks among the “real estate elite.” The information below is meant to inform you of the differences between the three types of real estate professionals and help you make a more educated decision on choosing the real estate professional that is right for you.
In most states, real estate professionals can only become a real estate BROKER after an extensive period of time serving as a real estate agent or REALTOR® before the real estate profession qualifies to take the additional training required to become a real estate BROKER.
The difference between Real Estate Brokers and Real Estate Agents
Real Estate BROKERS have additional rights and responsibilities to serve the public that real estate agents do not have. These rights include but are not limited to having the ability to managing other real estate professionals and the right to own and operate their own real estate firm. Of course, as stated earlier in this blog, there are tremendous educational, experience and ethical obligations that also separate a real estate agent from a real estate BROKER.
The difference between Real Estate BROKERS and REALTORS®
Not all REALTORS® can be a real estate BROKER. The reason is because to become a real estate BROKER, one must obtain additional educational requirements and a REALTOR® does not qualify to sit for these educational components to get their brokerage license until they have a certain amount of experience either as a real estate agent or a REALTOR®. At the most basic level, to be a REALTOR® means that the professional is a member of the National Association of REALTORS® and have taken the association’s oath to uphold its strict and highly enforced code of ethics and standards of care. Most real estate BROKERS are members of the National Association of REALTORS®, but the fact is, some are not.
What is the code of ethics taken by REALTOR®?
The REALTOR® Code of Ethics is strictly enforced and contains 17 Articles of Standards of Practice that is designed to hold the industry and its professionals to a high level of integrity, ethics and educational requirements.
In closing, when choosing a real estate professional it is crucial that you choose someone that is knowledgeable, experienced and committed to upholding ethical standards that protect you as a home buyer or seller. Paige Slyman has earned the title of real estate BROKER and has proudly taken the ethical oath given by the National Association of REALTORS®. He has over 2 decades experience honorably serving the Atlanta real estate community with that title. If you hire someone that does not have the title of REALTOR® or real estate BROKER they are NOT bound by the same ethics and guidelines and you are literally putting the biggest investment of your entire life… You’re home… in the hands of someone that has not taken an oath to ensure that you are treated fairly and ethically or with the most education and experience in the real estate market.
Give us a call at 770.405.0100 x 2 or email us at firstname.lastname@example.org.