If you clicked A, you’re right. Anyone who earns a real estate license can be called a real estate agent, whether that license is as a sales professional, an associate broker or a broker. State requirements vary, but in all states you must take a minimum number of classes and pass a test to earn your license.
A REALTOR® is a real estate agent who is a also a member of the National Association of REALTORS® (NAR), which means that he or she must uphold the standards of the association and its code of ethics. When you are looking for a real estate professional, it is wise to work with a member of the National Association of REALTORS® who is committed to maintaining the professionalism of the real estate business. You still can choose to work with a salesperson or an agent, but in any case you should take the time to interview your agent and ask for references.
If you clicked B, you’re wrong. There is no difference in cost between a REALTOR® and an agent. Both are paid according to the rules of real estate sales commissions. Both agents and REALTOR®s can have different commission rates on different properties. This commission is usually determined by the selling agent’s broker. So what the heck? Hire the one who is held to a higher standard by NAR to represent you fully and ethically.
If you clicked C, you can see from the above that there is a HUGE difference between a REALTOR® and just a real estate agent.
If you clicked D, you’re just being silly.
Thank you for taking our quiz! We hope knowing the difference between a real estate agent and a REALTOR® will make a positive difference in your real estate selling or buying experience.