When you’re looking to buy a property in Las Vegas, you might wonder what the difference is between a real estate agent and a realtor. After all, they both help people buy and sell property, right? While that’s true, there are actually some key differences between the two professions that you should be aware of.
Monarch Property Management & Realty, a legitimate realtor in Las Vegas, explains the main distinctions between real estate agents and realtors.
REAL ESTATE AGENTS VS. REALTORS: WHAT'S THE DIFFERENCE?
In general, a realtor is a licensed professional who belongs to the National Association of Realtors (NAR). Real estate agents are also licensed professionals, but they don’t necessarily belong to the NAR. So, what’s the difference?
BECOMING A REAL ESTATE AGENT
In order to become a real estate agent in Las Vegas, you must simply pass an exam administered by the Nevada Real Estate Commission. There is no minimum education requirement and no need to be affiliated with any particular real estate company. Once you’ve passed the exam, you’re free to work as an independent agent or to join any real estate brokerage firm in the state.
Real estate agents are not bound by the same code of ethics from NAR. While most agents are honest and ethical, there is no guarantee that they will be. And, while many agents are members of their local MLS, it’s not a requirement.
LAS VEGAS REALTOR
The requirements for becoming a realtor are slightly more stringent. In addition to passing the Nevada Real Estate Commission exam, you must also be a member of the National Association of Realtors (NAR). The NAR is a professional trade organization that requires its members to adhere to a strict code of ethics and to complete ongoing education courses on topics related to the real estate industry. Because of these additional requirements, there are far fewer Realtors than there are real estate agents in Las Vegas.
They must adhere to a strict code of ethics set forth by the NAR. This code of ethics includes standards for honesty, fairness, and integrity in all dealings with clients, customers, other realtors, and the general public. In addition, realtors must be members of their local Multiple Listing Service (MLS) in order to list properties for sale.
So, does that mean that you should only work with a realtor in Las vegas, when buying a property? Not necessarily. While it’s true that realtors must adhere to a higher standard of ethics than real estate agents, that doesn’t mean that all agents are unethical. But if you’re thinking about buying or selling a home, working with a realtor may give you some peace of mind. You can be sure that your realtor will have your best interests at heart and will work hard to get you the best deal possible.
FOR SEAMLESS AND LEGAL PROPERTY ACQUISITIONS, GO FOR MONARCH PROPERTY MANAGEMENT & REALTY!
When you’re ready to start looking for property in Las Vegas, you’ll likely come across both real estate agents and realtors. While both types of professionals can help you buy or sell property, there are some key differences between them that you should be aware of.