A real estate agent and a Realtor are similar, but there are some key differences between the two.
In Idaho, a real estate agent is a professional who is licensed by the Idaho Real Estate Commission to help individuals buy and sell real estate. They can work for a brokerage firm or be self-employed if they have their broker license. Real estate agents can assist with a variety of tasks, such as listing and advertising properties, showing properties to potential buyers, negotiating deals, and facilitating the closing process. But they only have social media and publications to list the properties they are selling.
On the other hand, a Realtor is a specific type of real estate agent who is a member of the National Association of Realtors (NAR). In order to become a Realtor, a real estate agent must be a member of the NAR and must adhere to the organization's code of ethics. The NAR is a professional organization that sets standards for the real estate industry and provides additional resources and support for its members.
One key difference between the two is that all Realtors must follow a strict code of ethics that goes beyond state laws. Additionally, Realtors have access to the Multiple Listing Service (MLS), which is a database that contains information about properties for sale in a specific area. The MLS is an important tool for Realtors as it allows them to access information about properties that are not publicly listed and to promote the properties to other Realtors.
Another difference between the two is that only Realtors are allowed to use the term Realtor, which is a registered trademark, and the use of the term is closely monitored by the NAR. Using this term can only be used by members of the NAR.
While a real estate agent and a Realtor are similar, the main difference is that a Realtor is a specific type of real estate agent who is a member of the National Association of Realtors and adheres to a strict code of ethics. Realtors also have access to the Multiple Listing Service and are able to use the term Realtor, which is a registered trademark.