Difference Between Real Estate Broker and Realtor

Real estate broker and Realtor. Do you know the difference between the two? Don’t worry if not, most people don’t. This why the North Carolina Real Estate Commission has just released a video that explains the difference between a real estate broker and Realtor.  It’s called the, “Difference Between NC Real Estate Commission and NC Association of Realtors” and highlighs the difference, responsibilities and purposes of the two entities.

Real Estate Broker and Realtor

 

Real Estate Broker and Realtor

To be a Realtor you must first be a state licensed real estate broker. The National Association of Realtors (NAR) is a trade group representing these brokers. Each state has its own association as well as each local multiple listing service (MLS) area.

One of the cornerstones for NAR and its members is its responsibility to the consumer with their Realtor Code of Ethics. 2013 marks the 100 year anniversary for this standard of conduct. The Realtor code of Ethics is extensive. Each Realtor must study them and be able to pass a test on it. Below is a very small sampling of items taken directly from the code of ethics.

  • pledge themselves to protect and promote the interests of their client. This obligation to the client is primary, but it does not relieve REALTORS® of their obligation to treat all parties honestly.
  •  preserve confidential information (as defined by state law) provided by their clients in the course of any agency relationship or non-agency relationship
  •  shall avoid exaggeration, misrepresentation, or concealment of pertinent facts relating to the property or the transaction.
  •  shall not undertake to provide professional services concerning a property or its value where they have a present or contemplated interest unless such interest is specifically disclosed to all affected parties
  •  shall not accept compensation from more than one party, even if permitted by law, without disclosure to all parties and the informed consent of the client or clients.
  • keep in a special account in an appropriate financial institution, separated from their own funds

Margaret Hitchcock is North Carolina licensed real estate broker and Realtor. She is a member of the National Association of Realtors, North Carolina Association of Realtors and the Crystal Coast Association of Realtors. Ethics, honesty and hard work are the cornerstones for Margaret.

Real Estate Broker and Realtor

real-estate-broker-margaret-hitchcockkIf you have any questions about the difference between a real estate broker and a Realtor then contact Margaret Hitchcock of Hitchcock Realty. She’s both! Margaret is also a highly experienced listing agent and represents buyers from all around the country. Call Margaret direct at (252) 269-2893.

 

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