I am planning on selling my home and buying another. Do I need to hire a real estate agent or a REALTORâ? Is there a difference?
Absolutely, there is a difference! Not every person who is licensed to represent Buyers and Sellers in a Real Estate transaction is a REALTOR®
In order to represent a buyer or seller of real estate an agent must be licensed by the state where the real estate is located, and must be supervised by a real estate broker. A REALTOR®, on the other hand, is a licensed real estate agent or broker who has taken the additional step of affiliating with the National Association of REALTORS® (NAR). In Pennsylvania, fewer than 70% of the licensed agents and brokers are also REALTORS®.
The Pennsylvania Association of REALTORS® (PAR) reports 34,500 current members. It is a member organization of the 1.3-million member National Association of REALTORS®, and is comprised of residential and commercial REALTORS® who subscribe to a strict Code of Ethics and Standards of Practice.
The web site of the Pennsylvania Association of Realtors identifies the goals of the association as follows:
· Promote homeownership
· Encourage investment in real estate
· Protect the right to own and use private property
· Enable members to transact business to the advantage and protection of the public and members
· Promote and maintain high standards of conduct
· Advance civil development and economic growth in the Commonwealth and among its citizens
· Work for economy and efficiency in government
· Lend assistance to the PA State Real Estate Commission and the State Board of Certified Real Estate Appraisers in the enforcement of their regulations.
REALTORSâ must participate in quadrennial ethics training, over and above the basic continuing education requirements for sales agents and brokers required at the state level. In addition to belonging to the National Association of Realtors and their respective State Associations, Realtors also belong to local associations and are encouraged to participate in committees and task forces in advancement of the Real Estate profession. The agents and brokers of Elfant Wissahickon Realtors are represented by the Greater Philadelphia Association of Realtors®. and the Montgomery County Association of REALTORS®.
When you are ready to engage the services of a real estate professional, ask if the person you are engaging is a REALTOR®.
Posted by Larry DiFranco