Agent, broker and realtor® are are all terms that are often used interchangable and these three titles are all licensed professionals who help people buy, sell, rent, or invest in homes. That said, they are not exactly the same and there are differences between the three. Before you decide to hire someone to help you with the purchase or sale of your home you should know how they all differ.
Real Estate Agent
To become a real estate agent in Massachusetts, one must take a 40 hour real estate course from a certified institution and pass the state’s real estate licensing exam. Once they have passed the exam and have their license, an agent must affiliate themselves with a real estate brokerage.
Real Estate Broker
A real estate broker is a professional who has additional education beyond a real estate agent. To become a real estate broker in Massachusetts, one must have 3 years experience working as a real estate agent under a broker, take an additional 40 hour real estate course, and pass the state's licensing exam. Beyond the additional education, the largest difference between a broker and an agent is that a broker may work independently whereas an agent must be overseen by a broker. An associate broker or broker associate is one who has their broker license but chooses to continue to work under another broker as opposed to working independently.
REALTOR®
To become a REALTOR®, you must be a licensed broker or agent who is a member of the National Association of REALTORS®(NAR). By belonging to NAR, these brokers and agents make a commitment to follow a strict Code of Ethics which protects buyers and sellers.
A REALTOR® is a broker or agent who belongs to the National Association of REALTORS® (NAR). A REALTOR® commits to following a strict Code of Ethics intended to protect buyers and sellers. Anyone who is not a member of the NAR can not call themselves a REALTOR®.
Agents, Brokers and REALTORS® may represent buyers and sellers. Some choose to specialize in one or the other while others choose to work with both. One who represents both buyers and sellers within the same transaction is called a dual agent. Dual agents must disclose dual agency to both parties by law.
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