Definition of Realtor
Relator is the trademark name for a real estate agent who is a member of a licensed member of their local or national real estate organization.
To become a real estate broker, you must first be a real estate agent. Real estate brokers choose to further their education by passing a broker licensing exam and completing additional real estate courses. These courses are meant to qualify a broker to run their own brokerage firm where they will be able to hire and lead a team of real estate agents. Real estate brokers extensive knowledge of real estate laws and regulations and also have more power and responsibilities than real estate agents.
Why is this term important?
Realtors are not only licensed real estate agents but these property professionals are required to maintain a higher standard of conduct that requires ongoing education and licensing requirements.
As a result, a person who uses the Realtor designation is considered to have more consistent training an more up-to-date knowledge than real estate agents.
Keep in mind, however, that every Realtor has different specializations within the property marketplace. Like a real estate agent, a Realtor can focus on residential or commercial or choose to work in both spaces.
To ensure you’re working with the right person, remember to interview a few Realtors and focus on their knowledge, experience and whether or not they can and will work with your needs and requirements.