As a real estate agent, you do things like categorize buyers. By categorizing buyers, you can determine what actions you perform will best help you find a house for those buyers. You perform a similar process for sellers. You determine how quickly they wish to sell, why, and for how much.
Although you both perform buying and selling functions for your clients, did you ever take a step back and determine what kind of real estate agent you wished to be?
What Kind of Real Estate Agent Do You Want to Be?
Per Rebecca Lake on SmartAsset.com, there are three types of real estate agents that you can be. Rebecca wrote her blog from a home buyer’s or home seller’s point of view. We’re approaching the subject from a real estate agents point of view.
The 3 types of real estate agent that you can be are: the traditional real estate agent, a real estate broker, and a realtor.
Traditional real estate agent – The traditional real estate agent has completed all necessary forms, and has passed all necessary tests, to acquire a license to sell property. The license assumes that you can sell property. A license implies that the real estate agent is capable of selling a home or finding a home for a buyer.
Home sellers don’t have to hire a real estate agent to sell their homes. They can negotiate the sale of their home on their own. That’s probably not wise, though, whish is why there’s plenty of business for real estate agents.
Real estate broker – Real estate agents work for real estate brokers. Real estate agents cannot run their own companies while real estate brokers can. Most real estate brokers started out as real estate agents. To become a real estate broker, you must often pass a state administered broker’s exam. You must also take advanced real estate agent courses.
Realtor – The only way you can become a realtor is if you are in good standing with the National Association of Realtors. In fact, the National Association of Realtors has copyrighted the term “Realtor”. Realtors are real estate agents that are held to The Code of Ethics.
The Code of Ethics has seventeen guidelines that realtors must follow. The guidelines are of the ethical nature. Both realtors and real estate agents follow the same laws. The Code of Ethics is in addition to following laws.
Being a real estate agent isn’t just about buying and selling houses. You can decide that you like being a traditional real estate agent, which means you work for a real estate broker. Or, you can decide you wish to become a real estate broker, meaning that you own your own real estate agent business.
You can also decide to become a realtor. It’s up to you!