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Your Real-estate Guide - What Is a REALTOR?
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What Is a "REALTOR?"
Many people commonly use the terms Salesperson, Broker, Agent and
REALTOR® interchangeably, as if they are all one and the same. The
truth is that these terms have different meanings and we should be
careful in their use.
Salesperson
The term "Salesperson" (as in Real Estate Salesperson or Real Estate
Sales Representative) refers to someone who has attained all of the
licensing requirements needed to help the public buy, sell, lease,
exchange or negotiate for any interest in either real property or a
business opportunity. All Salespersons must work under the direct
supervision of a licensed Broker.
Broker
The term "Broker" (as in Real Estate Broker) specifically refers to
someone who has the required qualifications and license to be in the
Real Estate brokerage business. Brokers can do everything that a
registered Salesperson can, but in addition they are also qualified to
own, operate and supervise an actual Real Estate company and employ
Salespeople to work for them.
Agent
While the term "Agent" is not specific to the Real Estate industry,
most Real Estate Salespeople, Brokers and REALTORS do act as agents
when conducting business. An Agent is defined as anyone who represents
another in a business transaction.
Realtor®
The word REALTOR® is actually a registered trademark that can only be
used by someone who has been accepted as a member of the Canadian Real
Estate Association (CREA). This organization requires all of its
members to adhere to a strict Code of Ethics and Standards of Business
Practice. The Code and Standards are very important because they assure
that all REALTORS offer the highest level of service, honesty and
integrity possible. All REALTORS are subject to constant professional
monitoring that keeps them directly accountable to the individual
consumers they serve. CREA also ensures that all of its members are
knowledgeable and highly trained in order to better serve the public
and offers ongoing education courses so that REALTORS continue to meet
the highest professional standards in an ever-changing industry.
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Your Real-estate Guide
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