There are several different professionals in the real estate industry - all with separate titles - and it can seem a bit confusing if you have never dabbled in real estate before. Though some may use these terms interchangeably, there are some key differences:
- Real estate agent - Any person who has passed the exams and received a real estate license is a real estate agent or salesperson. Usually, a real estate agent will work under a broker and by so doing, must report to the broker for each transaction.
- Real estate broker - A broker is an experienced real estate agent who receives further education and passes a broker's license exam. A broker can work as an associate broker for another broker or work independently.
- Buyer's agent - A real estate agent who only represents buyers purchasing a home.
- Listing agent - A real estate agent who only lists properties for sale.
- REALTOR® - This designation means the real estate agent is a member of the National Association of REALTORS® (NAR), which requires standards and a code of ethics be upheld by the agent.