Realtor

Most people, when buying or selling a home, seek out a professional for help. A REALTOR® or real estate agent can fulfill that role, and, although they are similar, they are not the same.

A real estate agent is simply a person who is licensed to buy or sell homes. A REALTOR®, on the other hand, is a member of  the National Association of REALTORS® (NAR), which is the nation’s largest professional organization.

A membership in NAR indicates that the REALTOR® is nationally accredited. It also means that s/he has agreed, and is thereby obligated, to abide by NAR’s strict Code of Ethics. The fact that the REALTOR® has committed to a certain expectation of professionalism can be reassuring to a potential home buyer or seller.

Surprisingly, a REALTOR® does not have to be real estate agent. REALTORS® can be mortgage brokers, attorneys, insurance agents, title agents, etc. Because of this, it is important that you make sure the REALTOR® you choose is licensed to buy and sell real estate, too. It is likely that whomever you find will be, but it is a good idea to confirm.

REALTORS® typically work on a commission basis. It usually works like this: the seller pays the listing agent a 6 percent commission, which is then split between the buying and selling agents. Often, the buying and selling agents have to pay a portion of this commission to the firm that employs them.

A great tool for finding a REALTOR® is the Find a REALTOR® program through our partners at RealEstate.com. Through this online program, you choose a real estate company. Then, you consult with a Relocation Director from that company. This person will personally match you with a local REALTOR®. After closing with that person, you receive a gift  card. The program not only helps you find a qualified REALTOR®, but also provides you with a financial incentive.


Disclosures
REALTOR® -- A registered collective membership mark that identifies a real estate professional who is a member of the National Association of REALTORS® and subscribes to its strict Code of Ethics.

Not  available in all areas. Amount of incentive is based on purchase price of home and a 6 percent commission evenly split between listing and buyer’s broker. Changes in the commission or commission split will adjust incentive proportionately. Click here for full terms and conditions [http://www.lendingtree.com/stmrc/realestate/reterms.asp]